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For "Rent 2 Own" Tenant Benefits
Click Here
Spring Valley
is the
largest un-incorporated community in the county of San Diego,
covering thirteen and a half square miles.
Located
11 miles East of
Downtown San Diego, Spring Valley is bordered by La Mesa and El
Cajon to the North, Jamul and Dulzura to the East, Sweetwater and
Bonita to the South, and Paradise Hills and Lemon Grove to the West.
Within Spring Valley's
boundaries can be found a variety of smaller communities - Casa de
Oro, Rancho San Diego, La Presa, Dictionary Hill, Mt. Helix, and
Bancroft.
Today it is dotted with
condos and affordable homes to house its population of 59,384 residents
(as of year 2000 census). *************
The information in the following section was
derived from analysis of data (such as age, occupation, and income)
from the 2000 U.S. Census. Using segmentation methods, analysts
created groupings based on the demographic and socioeconomic
composition of each city and neighborhood.
Who lives in Spring Valley?
Stretching Couples -
High-income, high- expense suburban couples. These married couples
without children earn handsome salaries, but have significantly
higher mortgages than the national average. Most own their homes,
and some have a college education.
Multi-lingual Suburbanites -
Middle-class, suburban individuals who speak a foreign language. Age
ranges from 30s to 60s. Some own their homes. Education varies from
high school to college, with some earning graduate school degrees.
New Suburbanites - Mobile
suburban singles. A high proportion of these pre-middle-age to
middle-age singles have moved to the suburbs in the past 4 years.
Some have a college education and work in professional or management
careers.
In this neighborhood, a larger number of people have these
characteristics than in surrounding neighborhoods:
Education
Did not complete college
High school graduates
Employment
Work for the government
Work in office and administrative support occupations
Income
High rent compared to income
People & Culture
Born in the Midwest
Born in the South
Retirees
Wealthy retirees
Transportation
Drive to work alone |
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"Use Your Rent Money
to Get Started Owning A Home..."
There is no bank qualifying
required to get started.
Pay $1,597 per month rent on time and receive a $000 per month rent
credit toward the purchase price. That comes to a $9,6 00 credit toward
the purchase price at the end of the first year.
If you can pay $1,897 per month
we will give you 100% rent credit.
At the end of the year that
comes to a total of $22,764 that you can deduct from the purchase
price just by paying your rent on time. There is no bank qualifying
required to get started.
If you would like to own your own home but are unable to secure
conventional financing today, leasing a home with an option to buy may
be your best option. A lease purchase (rent 2 own) can
make your rent
money work for you instead of making your landlord rich. Typically "Rent
2 Own" homes offer a 25% to 100% rent credit that reduces the final purchase price.
If you are like most people you dream about owning a nice
home in a nice neighborhood. If you can afford a reasonable down
payment (called 'option consideration'...a payment that "locks in" the
purchase price) and monthly rent payments, you can easily qualify to buy this home.
Our owner “Rent 2 Own” financing program makes buying this home easy. Here is your chance to make your dreams
come true. You can own this home today even if you have bad credit.
Click Here for Additional
Information About our Townhouse.
This is a perfect family home.
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2 Story Townhome
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Bedrooms 3
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Bathrooms 2.5
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Est. Square Feet 1222
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Fire sprinklers throughout
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2 Car Parking
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Year Built 1992
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New Paint, Marble & Bamboo Hardwood Floors
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New Kitchen Appliances
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Quiet Neighborhood
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$1,497 per month rent with $750 per month rent
credit toward Purchase Price
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Or
$1,897 per month
rent with 100%
rent credit
toward Purchase Price
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Down Payment (Option Consideration) = Negotiable-
Locks in purchase price up to 4 years.
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12 month lease option with right to extend
3 additional 12 month terms
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Our Rent to Buy Program
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3 Requirements
for Tenant
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Rent
2 Own Application
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Click here
for Interior Photos
After you have driven by the
complex to make
sure the location & neighborhood meet your needs
Click Here
and tell us about your home buying criteria
so we know how to have your rent money
help you get started owning a home.
And Then Call
Gar May at
858-272-5510
so we can
set up a time for you to see the inside.
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Calculate How Much
Money
You Have Wasted Paying Rent?
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Filling out the questionnaire below will help us put
together a "Rent 2 Own" Agreement that will work within your
budget. |
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What you will like best about this
quiet, charming,
completely remodeled throughout “Move-In Ready” two story, 3 bedroom, 2.5
bath, 1222 square foot townhome is its central location in the heart of
Spring Valley.
It is tastefully decorated with beautiful inlaid
marble and exotic
gleaming natural bamboo hardwood floors
throughout
plus professional designer touches
which are only some of the impressive attributes/ features of this
lovely home.It has an inviting private fenced back yard with a lush
flower garden with fruit and palm trees. The patio is perfect for
outdoor entertaining. You will feel safe knowing that you have a fenced
back yard big enough for your young children & pets.
It is very conveniently located close to schools, a community park and
downtown shops with easy access to
SIX Highways (Hwy 94, Hwy 125, Hwy 5, Hwy 8, Hwy 15 and Hwy 805) which is ideal for easy commuting. It is only a few minutes
drive to the San Diego International Airport and downtown San Diego attractions.
This is a highly sought after townhome that has a
large master walk-in closet, an upstairs laundry
closet and all new kitchen appliances.
8708 Lamar Street #6 is a charming owner-financed Spring Valley
townhouse condominium.
Click Here
and
give us the information we need in order for us to put together a
"Rent 2 Own" Agreement that will work within your budget. (i.e. Tell us about your home buying criteria.)
You are probably here because you are interested in
buying a nice condo for yourself and your family EASILY with minimal
hassles. If so, you have come to the right place.
Our "Rent to
Buy" program is perfect for the family who wants to own their own
home but can not yet afford to buy because of lack of funds for a
down payment, poor credit, or not being on the job long enough to
qualify for a bank loan. With our "Rent to Own" program you can fix
these problems while you live in the house.
Even if you have "SHAKY"
credit, that's all right. We don't have a required dollar
amount that is necessary for you to put down to move in. That amount
is negotiable and if your down payment offer is reasonable we will try to work
with you. We will do our best to work within your budget for your
monthly rent and your down payment (option consideration).
When you are ready to exercise your option to purchase and if you
are not in default of your lease
we will
carry the financing so there is no need for you to qualify for a
bank loan.
The question you need to ask yourself is
what would your budget
allow you to put down towards the purchase of your future home?
This down payment (option consideration) will "lock in" the purchase
price for up to 4 years.
Your next step is to drive by 8708 Lamar Street #6 and see the
location and neighborhood and judge for yourself how perfect this home is for you and
your family.
Map
After you have had a chance to see how much you like the
neighborhood and if "renting to own" this townhome is something you
would be interested in please
fill out the form below
and
tell us about your home
buying criteria.
Or after you have driven by
the property you can call Gar May at
858-272-5510 for an
appointment to see the inside.
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Benefits of Lease
Purchase for the Tenant Buyer
- Maximum Leverage: You don’t need a 10-20% Down Payment to get
into the Property. When you buy a Lease Purchase (Rent 2 Own) home, you
can put down as little as first month's rent, a security deposit and a
2% to 4% option deposit. We can even spread some of this over monthly
payments.
- You are spending very little money to control a very expensive,
and very profitable, piece of real estate. You will be put in full
legal control of the home for a specified period of time without
actually having to own it.
- Compare that to a typical bank or lender who requires 10-20%
down.
- What is Option Consideration (Option Deposit)?
- It is the upfront money you pay the seller in order to
"lock in" the purchase price for 1 – 4 years.
- When you sign a Lease Purchase contract, you will pay the seller
an option deposit. This money is your vested interest in the home
and will be fully (100%) credited toward purchase price when you buy
the home.
- Rent Money is Working Toward the Purchase of a Home: Every
month a portion of your rent payment (typically 25% to 100% of your
monthly rent/lease payment, depending on the home) is credited towards
your down payment or off the sales price. This rent credit goes toward
the final purchase price of the property. You are buying the property
while renting it. Equity accumulates much faster than with conventional
financing through a bank or lender.
- Why Does a Landlord Give a Rent Credit? The Landlord gives a
rent credit to the tenant as an incentive to pay their rent on time and
take care of the minor maintenance and repair on the property.
- How Can He Afford to Give a Rent Credit? Since realtors are
usually not involved with this type of transaction, there is no
commission and the landlord can afford to pass along the savings to the
tenant/buyer in the form of rent credits.
- Frequently No Down Payment at Closing - Minimum Cash Out of
Pocket : Since you have given the seller up front option money and you
have been receiving monthly rent credits, there will frequently be very
little or nothing left to pay for a down payment at closing.
- Profits from Appreciation: Since the sales price is locked in
before closing (as specified in your agreement), any increase in
property value will mean that your equity (the amount you owe minus what
it's worth) is increasing in the home.
- Credit Problems are Okay: Qualification restrictions simply
do not exist. You will be
approved at the sole discretion of the seller.
- No Lengthy Escrows or Mortgage Approvals: Your approval will
be based solely at the discretion of the seller instead of a lender who
can take up to a month (or longer) to render a decision.
- No Taxes, Less Liability: Since you do not own the home
(yet), you will not have to pay property taxes and your liability
exposure will be dramatically reduced.
- Quick Move In Time: You can typically take possession of the
home in less than one week instead of conventional move in times of one
to three months after your offer was accepted.
- Time: Before you actually buy the home, you will have 12-24
months (depending on your agreement) to save for a down payment, repair
your credit, find the best mortgage interest rates, investigate the home
and research the neighborhood and/or schools.
- Minimal Maintenance: Major maintenance and repair problems or
any maintenance problems that exceed a certain amount of money are the
responsibility of the owner.
- Privacy: Your name will not be on the deed (or any other
public records) until you exercise your option to buy.
- Peace of Mind: You will have full control of the home knowing
that you have the exclusive right to buy the home at a future date.
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| 3 Main Requirements
For The "Rent 2
Own" Tenant Buyer |
1. Pay Rent On Time:
Each and every month the Tenant Buyer must pay rent on or before the 1st
day of the month. Depending on which program is chosen, between 25% and 100%
of the rent will be credited towards the purchase price of your future home.
If the rent is not received on or before the 1st of the month you will lose
the entire rent credit for that month. When you just rent there is no rent credit. When you have a
traditional loan, in the early years very little of your monthly payment
goes towards reducing the loan amount. When you “Rent 2 Own” if you pay your
rent on time you will get a rent credit with a generous amount of that rent
going toward reducing the amount owed on the home.)
2. Maintain The Property:
This will be your home. You will be responsible for all the day to day
maintenance on the property. Anything major is usually the responsibility of
the owner. If you clog the toilet, break a window, or make a mark on the
painted walls it is your responsibility to take care of it. It is in your
best interest to maintain and improve the property because
eventually you will need to refinance the property and cash us out
and your lender will give you a larger loan if the property is in
good shape.
Plus, if you
make improvements to the property and the property goes up in value, (if you
exercise your option to purchase) that increase in the homes value is yours
to keep. Your purchase price is locked in at the beginning of the “Rent 2
Own” term and it cannot be raised for any reason. This is one of the huge
benefits of our “Rent 2 Own” program.
3. Pay Up Front Option Money:
An upfront “Option Consideration” payment is required to move into the
property. The amount is reasonable and negotiable. This payment is 100%
applied towards the down payment of the property when you exercise your
option to purchase the property. "Option Consideration" is what "locks in"
the purchase price for the term of the lease option. The lease term on each property is
different. During this time you will have the opportunity to save money,
repair your credit and locate the best loan. Usually you have the right to
buy the home at any time during the lease option period. If you do not
exercise your option to buy the property during the “Rent 2 Own” lease term the
upfront option money is forfeited. (Option money is not refundable.)
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