Option To Buy
Rent with Option to Buy
What is "Rent with Option to Buy?"
Vista offers this program to help you take a big step now towards homeownership.
We are very proud of our Option to Buy Program because it is unique when compared to other Option plans offered by others real estate companies.
Here is a brief summary of Vista'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
1.) obtain financing
2.) exercise your Option
3.) and purchase your Home
Most other programs charge an additional monthly fee for participation in an Option plan.
Vista actually discounts your monthly rent with your participation in our Option to Buy Program.
If someone approaches Vista 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 Vista customers may be offered Owner Financing, including no money down, after developing an excellent relationship with Vista Properties, Inc.
Option Fees are determined by the Sale Price of the Home and generally start at $1,500
What's The Catch?
( the fine print and ugly part )
Vista's Rent with Option to Buy Program details:
-You Are Purchasing An "Option" to Buy Your Home.
This is NOT a "down payment"... not yet, but it could be...
It becomes part of your down payment when you "exercise" your Option.
"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 Vista to qualify for Seller Financing.
If you have a "ding" or two on your credit report, you may enroll in our Free Credit Repair program to help you qualify for a great low rate fixed interest rate on your home loan as soon as possible, especially since rates are at an all time record historic low.
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."
You will immediately begin to discover all of the benefits available for "Home Owners". Such things as additional tax benefits where Uncle Sam allows you to deduct the mortgage interest paid directly from your earned income. For example, let's say you make $50,000 annually. If your house payment is $600
monthly and $500 goes toward interest, ($500 X 12 Monthly Payments = $6,000 ), then Uncle Sam immediately adjusts your taxable earned income from $50,000 down to $44,000 resulting in a huge drop in the amount of income tax you pay every year.
Your Option 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.
Vista'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. You have several choices:
a.) You will NOT forfeit your entire Option Fee (a portion equivalent to a security deposit is set aside for you )
b.) maintain excellent relationship with VISTA & pursue Owner Financing
c.) You may renew or purchase another Option