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New Lease Option Program For Previous Homeowners Who Lost Their Home To Foreclosure Or Short Sale
Finally, an Option to Select a Home at Today’s Prices while Rebuilding Credit
THIS PROGRAM IS OPEN TO THE CLIENTS OF ANY REAL ESTATE AGENT. IF A CONSUMER IS NOT WORKING WITH AN AGENT, CONTACT SIERRA HOME INVESTORS TODAY AND YOU WILL BE REFERRED TO AN APPROVED AGENT.
Upon inspection approval, the agent will put in an offer to purchase on behalf of Sierra Home Investors, the affiliated investor group paying cash for the home. When the home closes escrow, the consumer will take occupancy as a tenant with an option to buy the home within two to six years. Participating licensed real estate agents who bring a customer to the Home Again program earn 2.5% commission when the home closes escrow.
The program requires:
$75 with initial application
5% option consideration (minimum $5000)
Rent is determined at .9% of purchase price For example: $100,000 home = $900 Rent
10% of Rent is Set Aside for Down Payment* When the option is exercised, 10% of each months’ rent is credited
Option Price appreciates 8% annually
Market Value Option*
With the high percentage of families who have been negatively impacted by the loss of a family home, often times a result of circumstances beyond their control, Home Again offers a fresh start to rebuild their credit and work towards home ownership again in the shortest time possible.
Visit us at http://www.homeagainnv.com
* If the home has not increased in value at the 8%/year, the Market Value Option allows an Optionee to purchase the home at the market value in month 72 plus 10% (can not be less that 10% above original purchase price). They are still credited their Option Consideration and Security Deposit, but not the monthly credits that would otherwise be available when optioning in months 24-71.
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Home Again is an innovative lease/option program designed by Sierra Home Investors targeting previous homeowners who lost their home to foreclosure, short sale, or bankruptcy to take advantage of today's prices and lease/option the home of their choice.
Page Updated Last on: Dec 20, 2010