How much rent is applied toward the ownership of the home?
It varies based upon the seller and other factors. Generally, a significant credit can be applied toward the ownership.
How does a rent option work?
You are a renter who has been given the option to buy the property you
are renting. There is an option period to buy and a certain amount of
money given down for the option to buy.
What happens to the option money I give?
It is not to be
confused with a security deposit. It is a non-refundable amount of
money given towards the ownership of the home when you opt to do a
buy-out. If you opt to buy, the money is usually either applied to the
purchase of the home or towards closing costs.
How do I make sure I am successful - so that I don't loose my money?
Rent Augusta Maine partners with reputable mortgage brokers and other lending
institutions who will make sure that you are fully qualified with a
good possibility to buy the property down the road. It is critical that
the renter be responsible and follow Rent Augusta Maines' step by step
program for success.
What kind of identification and paperwork do I need to bring in order to be evaluated?
Be
sure to bring a valid drivers license or state Identification card,
proof of income, if self employed please bring previous tax year.If
joint venture all parties must be present at initial consultation
meeting.
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Rent to Buy/Sell Options 