Listed below is a typical list of questions relating to the types of opportunities we offer. Please note that some points may differ depending on individual circumstances. Specifically it will depend upon the financing options that are in place.

If you have a question that isn’t listed here, please feel free to contact us and ask it. We will gladly answer any questions related to home buying or financing your home.

General Home Buying Questions

What happens if I miss a payment?

Missing one or two payments is not the end of the world. If you stop paying altogether or are unable to catch up on your payments, you will lose your opportunity of home ownership. Late payment charges will  usually apply.

My credit is less than perfect, can you still help me?

Yes in many cases we can. If you qualify for a basic rental agreement, then we can likely help you procure a rent to own deal, or otherwise. The only way to find out for sure is to contact us with your home buying needs

What happens if I default?

During the default period you will be given fair and reasonable time to bring the payments up-to-date. Depending on how your home if financed, normally this is three months.

Can I have my solicitor look at the paperwork?

Yes, we prefer you have legal representation however if you choose not to, that’s fine as well. You are highly advised to consult a reputable licensed legal representative although there is no law that makes this compulsory.

We don’t have any references. Can you still help us?

Sure, we can go through alternative methods of verifying information however this will take longer than the usual methods. Therefore we recommend you get your references if you want to be approved fast. In order to secure the property for you we will require a security at time of offer and a further deposit upon attaining keys to the property.

Questions Pertaining to Rent to Own

Does the whole process work like a normal sale?

No, the process works a whole lot faster than the usual bank method. Approval can usually be granted and delivered within a few days. From there, all that is needed is for you to pay the deposit (if any), sign the paperwork and move in - it’s as simple as that…

Can I sell my home?

With a rent to own agreement, in most cases you don’t actually own the home. So generally you won’t be able to sell it. On the other hand, after renting to own for a while, it’s usually simple enough to procure financing for the balance owing and then you are able to do whatever you want.

Can I renovate my home?

It depends on the agreement that you have drawn up. In most cases you’ll likely be able to as long as the work is performed by qualified trade’s people – but you should consult your paperwork before planning/starting anything.

Questions Pertaining to Vendor Finance

Am I allowed to refinance financing?

Yes. The aim is for you to refinance your loan as soon as you can. We can recommend some lenders who are familiar with our concepts to help you, and they will help you get into a bank loan as soon as possible.

What happens if the bank will not refinance me after our agreement ends?

No problem, we can finance you until such times the bank will allow you to refinance.

What are you looking for when you look at our application?

We look for three basic things:

Rental Payments You must be able to verify that you have previously paid all you rental payments on time and in full as this is essential when preparing yourself for home ownership.

Employment History We need to see that you have been employed on a regular basis and that you have the income to sufficiently support the payments of your new home. All income coming into your household to be included in the assessment.

Credit History We understand that most people don’t have a squeaky-clean credit history. All we are really checking for is that you haven’t murdered somebody. So please, murderers need not apply! We need to be satisfied that you will pay your repayments when due.

Can I sell the home?

Yes, as long as you pay out the balance owing on your loan to the seller.  You can do this at anytime. All of this happens on settlement and is handled by your conveyancer or solicitor.

Can I renovate the house to my specifications?

Major works require local council approval so these projects will need to be approved prior to commencement. Apart from that we have no problem with it as you are improving the value of your home which is beneficial to you when it comes to refinancing. You will need to enlist the services of qualified tradesmen in order to acquire the relevant building certificates.

Can we use the Governments First Home Owners Grant (FHOG)?

Yes, however the governments payment will only be able to be processed when you receive legal title. This will occur at the end of your vendor finance agreement.

Have a question that wasn’t answered here? Please feel free to ask it. We will answer any question related to rent to own, buying a home and other topics related to real estate. We’re here to serve you, and our knowledgeable staff love to here from buyers and sellers! CLICK HERE to get answers to your home buying or selling questions!