For consumers who would like to buy a home but aren’t quite ready or able, Coldwell Banker Residential Brokerage and Home Partners of America offer a new option. The Lease with a Right to Purchase program helps consumers get into their dream home today with the option to purchase it within the next three years.
“Our goal is to provide our clients a transparent and flexible path to homeownership in great communities,” said Bill Young, co-founder and chief executive officer of Home Partners of America. “Many people want the benefits of living in a single-family home in a good neighborhood with access to a strong school system, but are not yet ready to buy.”
So far, Home Partners of America has helped 7,900 Americans move into homes in strong communities across the country. The company is expanding rapidly, with plans to help 10,000 households move into homes in the next 12 months and has already purchased $900 million worth of single-family homes in more than 30 markets across the country.
To help establish its program in the Florida market, Home Partners has partnered with Coldwell Banker Residential Brokerage.
Here’s how the program works. After being approved through Home Partners’ application process, prospective residents work with a licensed Realtor® to select their home, which Home Partners then purchases. The resident’s only commitment is to lease the house for one year. The family is provided rent and purchase prices in writing for three years. Residents can renew the lease or purchase the home at any time during their residency.
The program focuses on acquiring homes in communities with an above-average school district based on published rankings, where there are historically few homes available for rent, but more homes for sale.
Coldwell Banker Residential Real Estate is a leading full-service residential real estate brokerage company with more than 85 offices and 5,100 sales associates serving the communities of Central Florida, Flagler, Brevard, Palm Beach, Southeast Florida, Southwest Florida, Tampa Bay and the Panhandle. Worldwide, the Coldwell Banker network includes 3,000 offices with nearly 86,000 sales associates. Every day, Coldwell Banker Residential Real Estate properties are exposed to 16 million buyers on more than 725 high-traffic websites. For more information or to view local listings, visit ColdwellBankerHomes.com. To learn more about a career in real estate or affiliating with Coldwell Banker, visit CareersCB.com. Coldwell Banker Residential Real Estate is a subsidiary of NRT LLC, the nation’s largest residential real estate brokerage company.