Option to Buy
Similar to putting “Dibbs” On Your Home
LOCKS in your purchase price for 12 months! Renewable yearly for up to 5 years.
Allows you opportunity to obtain financing, exercise your option, and purchase your home
Most other programs charge an additional monthly fee for participation in an Option plan.
If someone approaches First American Realtors and wants to buy the house you are leasing with an Option to Buy, — no deal — You have an exclusive Option to Buy on your home and nobody can buy it during your Option period.
What’s The Catch?
First American Realtor’s Lease with Option to Buy Program details:
You Are Purchasing An “Option To Buy” Your Home.
This is NOT “down payment”
“Exercise” your Option simply means when you “buy your home.”
Until you “Buy Your Home,” You have simply purchased an “Option.”
Your BENEFITS When You Purchase an OPTION TO BUY
Allows You to LOCK YOUR PURCHASE PRICE for the time period specified.
Gives You The Opportunity to Get Your Own Loan to buy your home.
Start building your excellent relationship with First American Realtors and helps you qualify for your home loan.
On this program you will see yourself feeling great about your home and you becoming a homeowner. There is a huge powerful feeling of being a “homeowner” vs. “just renting.”
Your Option Fee provides you the benefits listed above.
At the time you exercise your Option to Buy and actually purchase your home, your option fee, as well as any renewal fees, will be credited towards the closing costs and prepaids associated with your mortgage.
Option fees vary. Your option is renewable yearly for up to 5 years. Renewal fee is $1000. Each year you have to renew, the purchase price increases up to 5%.
We have mortgage brokers and credit repair specialists we can refer to assist you.
No part of the monthly rent is credited toward the purchase price of the home.