? Questions ?
FAQ (Frequently Asked Questions)
Lease-2-Own FAQ:
Q : What is the benefit of Lease-2-Own ?
A : Leasing is like renting but part of your money goes towards purchasing the house.
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Q : What are the terms of the lease ?
A : Each house is different. Typically we find a house you are comfortable with for your situation and make sure you are OK with the payment terms. A typical Lease is in 2 year increments up to 40 years. You know the purchase price on the house upfront so there are no hidden payments.
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Q : What if I decide to get out of the Lease-2-Own ?
A : It couldn't be simpler. We want the best for you. Consider a lease like a "Renting with benefits". If you decide during the process it isn't for you, you can walk away like you were renting it. You will forgo your upfront minimal deposit.
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Q: If I leave in 5 years can I cash out and get money?
A: This isn't a savings bank. Our goal is to Lease you a house and if you stay you get credit to purchase it. If you have to leave the lease, you aren't our any more money than rent.
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Q: What if I want a different house after I have been leasing my house for several years.
A: We are fluid. What that means is you can take the credit you have built up on the house and transfer it to another house. There are some minor fees involved but it won't be starting over from scratch again.
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Buy FAQ:
Q : Why should we buy through L.B.O.R. ?
A : There are many reasons. Here are a few :
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Long term renting doesn't get you ahead in the "game".
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You can rent the house you want before you buy it, to make sure you actually like it.
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There are no Realtor fees.
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There are no banks, therefor we don't go off of credit like traditional banks.
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We offer a variety of houses and locations and are here to assist you in your down payment when you become ready to buy
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Most of our houses are paid for so we have the flexibility to negotiate the buying process.
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We will guarantee the house. We have local consultants in your area to help facilitate any needs or questions.
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Rent FAQ:
Q : Why would I rent instead of buying or leasing ?
A : Buying isn't for everyone. The payments can be higher and you are locked into an area without the flexibility or relocating unless you sell the house you are in. Leasing requires larger deposits and on a lease-2-own if something goes wrong with the house like an air conditioner goes out, you are responsible for the costs since you are technically buying the house.
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Q : How much is rent ?
A : Rent varies on a lot of things. Form location to the size of the house. We specialize in finding places that are good homes at the best prices for you.
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Q : What happens if we miss a rent payment ?
A : The owner of L.B.O.R. has had financial difficulties in his life. He understands and will work with you. Our goal is to better everyone's situation. We can and have evicted renters but would like to have dialog early and often if a situation arises.