Rent to Own
What is "Rent with Option to Buy"?
ThirdEdge offers this program to help customers become homeowners.
We are proud of our Option to Buy Program because it is unique compared to most Option plans offered by others in our business.
Here is a brief summary of ThirdEdge's Option to Buy Program.
Option to Buy:
- - similar to putting "dibbs" on your home
- - LOCKS in your purchase price for 12 months!
- - monthly rent is discounted cheaper than regular rent
- - 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.
ThirdEdge actually discounts your monthly rent with your participation in our Option to Buy Program.
If someone approaches ThirdEdge and wants to buy the house you are renting 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.
Established ThirdEdge customers may be offered Owner Financing, including no money down, after developing an excellent relationship with ThirdEdge Properties, Inc.
Option Fees are determined by the Sale Price of the Home and generally start at $1,500
What's the Catch? (Here is the fine print, and the ugly stuff.)
- - Please note that with this Rent with Option to Buy Program, you are buying an "Option to Buy" on a house.
- - This is NOT a "down payment" on the purchase of a house.
- - Your Option to Buy fee provides you the benefits listed above.
- - At the time you exercise your Option to Buy and actually purchase your home, your fee will be credited to the purchase price.
ThirdEdge's program has discounted monthly rent for customers who purchase an Option to Buy; therefore, no part of the monthly rent is credited toward the purchase price of the home.
What happens if I do not exercise my Option to Buy?
Sometimes this happens. If this occurs you still have several choices:
a.) You will not forfeit your entire Option Fee
(part is set aside similar to a traditional Security Deposit)
b.) maintain excellent relationship with ThirdEdge & pursue Owner Financing
c.) You may renew or purchase another Option
(remember Houses usually go up in value)
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