TOKOPS 'HOME FREE' PROGRAM
You have found the key to unlocking a unique opportunity towards home ownership. The Home Free Rent To Own Program seeks to provide an alternative for those who find themselves in unique circumstances like, being new to the country or going through a divorce or rebuilding your credit, or circumstances that somehow disqualify you from being approved for a conventional mortgage.
NEEDED FOR APPROVAL:
To Get Started:
Sign up (upper right hand corner) and fill out the "Wishlist" and Application (which you will find under the "Forms" tab), we can determine the best possible situation for you.
KEY BENEFITS FOR TENANT BUYER:
Sign Up and/or Login above, to create your profile, submit a wish list, see current listings and have the necessary forms at your disposal to expedite the process.
1. The ability to provide a minimum 3% down payment of the purchase price of the home.
2. At least one year with current employer and proof of income.
3. Three references.
WELCOME TO THE:
KEY FEATURES:
A rent-to-own agreement is a binding contract that allows you to rent a property for a specified period of time ( in our case, it is typically 2 to 3 years) and provides you the option of purchasing that property within the term of that commitment.
- Faster equity growth: Your equity accumulates much faster than with conventional financing through a bank or lender.
- Rent money is working towards purchase: Every month a portion of your rental payment is credited towards your down payment or the sales price.
- Favourable financing: When you purchase a home the conventional way, you will pay up to a 20% down payment plus closing costs and other fees. With a Rent to Own, you only pay first month's rent with as little as 3% down.
- Credit issues: The beauty of Rent to own sales, is qualification restrictions are at a much lower threshold.
- Quick move in: You can typically take possession of the home in a week or less, instead of conventional move in times of one to three months, after your offer is accepted.
- Maximum leverage: You are spending very little money to control a potentially very expensive, and very profitable piece of real estate.
- Time: Before you actually buy the home, you will have 12-60 months (depending on your agreement) to repair your credit, find the best interest rates, investigate the home and research the neighbourhood and/or schools.
- Peace of mind: You will have full control of the home and can maintain or improve it however you wish.
If you are having difficulty selling your home or are burdened by the carrying cost, this could be the solution you are looking for.
- Less liability: You no longer have to pay property taxes and your liability exposure will be dramatically reduced.
- Vested Interest: Because we are vetting tenants who want to eventually own the home, there is a greater tendency to take good care of the investment. This also creates a "pride of ownership" which encourages on time payments, routine maintenance, even making improvements to the home.
- Highest quality tenants equals minimum risk: Only those qualified to purchase your property are considered.
- Maintenance Free: With this arrangement the day to day maintenance and upkeep of the property is the responsibility of the tenant/buyer.
- Tax shelter is held intact: Because you remain on title until the option is exercised, you maintain all of the tax benefits of ownership.
- Peace of mind: Someone is living on-site who can protect and guard the home against fire, theft, vandalism, etc.
KEY BENEFITS FOR SELLERS:
