How To Sign California Banking Lease Agreement Form

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in this video i'm going to be sharing with you three key documents that you need to easily buy rent to own real estate let's get started hey everyone i'm whitney from ashrendy and welcome to the number one community for real estate income and credit so if you'd like to know what these three key documents that you can use to easily buy rent to own real estate make sure you watch a video to the end and leave a comment below if you need help with anything so as i've shared here on my channel and many of my other videos rent to own is a process in essence it's a transaction that is done in stages unlike a regular real estate transaction that is consummated executed and then completed and the deal is done rent to own is actually a process that can span from anywhere from one to three years or shorter because it's based on terms and those terms are what make it important to be able to have the proper documents that you need to easily make the rent to own transaction goes smoothly so the first document you'll need for your easy rental on transaction will be your rental agreement so the rental agreement pretty much outlines the terms of your tenancy while you're renting as we know rent to own initiates are you starting to rent the property the seller has agreed to rent the property to you for a protracted period of time at which the end of it you'll consummate it by actually purchasing the property from them so it starts out by actually you being a tenant on in the property paying a agreed to rent amount and also the terms of the tendency are established in this rental agreement what's going to happen regarding the water what's going to happen regarding utilities if it's a private residence or a single-family property versus a condo etc all those terms are put in place based on the property type and also the terms that you've agreed to with the landlord just like you would in any other standard landlord tenancy agreement is basic rental agreement that you would consummate and that initiates and that's the first step in starting your rental owned transaction now the second agreement for an easy rent to own transaction and probably the most important will be your option agreement now this option agreement is probably the most important because this is what makes it a rent-to-own transaction the option agreement actually stipulates and establishes the timeline of what the rent to own how long it's going to be and also your purchase option fee as we know your purchase option fee is money that you actually put up basically to be able to have the option to purchase this property on a rent to own basis that can be anywhere from three to five percent depending on what the seller and the buyer tenant agrees upon again this is all based on terms so the option agreement identifies the time and also your purchase option fee it's important to make sure that you have this document because without this document you don't have a rental on transaction so your third and final agreement which is your deal sealer will be your contract of sale or standard purchase and sale agreement so this is actually used to establish the purchase price and also the terms of the sale so as we know with most rent to own transactions it's initiated by having a forecasted uh purchase price that the buyer agrees to to be able to purchase at a later date so they're purchasing the property at the time where maybe their credit is not in the best position or their circumstances that are positioning them where they're not able to go out and get an institutional loan so they've initiated this with their forecast and the hope that they will be able to qualify for a loan to purchase this property at this later date well this is the agreement that actually meets you at the later date and is ready to present itself so that you can consummate your purchase and buy your property so it's very important to be able to have this instrument because what this does is establishes and it has your your purchase amount in there it also have the terms of the sale if there's going to be anything included personal property or whatever the terms are that you've agreed to with seller this will be included in the contract of sale at the time that you guys go to initiate and actually do the real estate closing where you get the keys to your property not that you haven't gotten the keys to the property because a rent to own basically allows you to be able to live in the property and rent it with the option to purchase it but this is when you make it yours this contract of sale basically consummates deal seals the deal and moves you out from a rental owned to a purchase so please remember that these agreements are a very important part of the rent to own process they provide the seller and also the buyer tenant very much needed protection to consummate the transaction so if you'd like to learn more about how rent to own works how to easily do rent to own how to buy properties without credit how to buy properties without needing a bank how to buy properties without needing institutional lender or if you have bad credit and you're looking to try to get into home ownership and you don't know how you're going to do it rent to own is the way to go you can also buy multiple properties via rent to own seamlessly it's an easier way to do real estate so if you'd like to learn more about this process and how to get started make sure you go to my website askrenny.com and click on rent to own you can also access these three forms in our resource area just download them and actually read over them and get started if you have questions about anything would like to hear from you you can also email me my email address is ask rainynow gmail.com and also reach us right on our website at askrindy.com if you have any questions you can also leave them in the comment section below we'll be checking that and we'll be responding accordingly so i look forward to seeing you guys on the next video until next time thank you so much for watching you