FAQ’s

A Lease Purchase is essentially a purchase contract with pre-negotiated terms combined with a rental agreement.  The buyer leases the property for a specified period of time and then has the option of purchasing the property before or at the end of the lease agreement.  Sales price, length of rental, rent credits, escrow instructions, closing costs, maintenance, etc., are all negotiated, much the same as it is in a conventional Real Estate transaction.  A Lease Purchase, if properly utilized, is both the seller’s and buyer’s dream come true, because it can eliminate many of the negatives normally attributed to the selling and buying of Real Estate.

Real Estate agents list properties for sale and hope that someone will buy them. The agent shows the properties to potential buyers if there are
any, and then take a percentage of the sale price if they find a buyer. (the average time to sell a property in many markets now is 6 to 12 months).
Oftentimes the agents’ commission is 6% of the sale prices of your house (so if the value of your house is, say; $300,000.00 you’ll be paying about
$18,000.00 just in commission) Then on top of that you still have to continue to pay the mortgage, taxes, insurance and the expenses for upkeep
…also called “holding costs”.

Agents provide a great service for those who can wait 6 to 12 months to sell, and who don’t mind giving up a big chunk of the proceeds/profits to an agent. Our company actually BUY houses. We don’t list houses!
Since we’re the ones actually buying the house from you, we can make a decision to buy/lease within a couple of days (sometimes the same day).
Again we make our living taking the risk to buy/lease your house with our own cash, we repair the house, and market it to find a tenant/buyer.

We present You with a purchase offer based on market conditions and trends, plus a monthly lease amount which is then agreed to by all parties.
A lease option/purchase is basically a monthly lease set up over a pre-determined period of time. At the end of that time, we purchase the home
from you for whatever the pre-determined price that we agree is.

The basics are simple:

• You rent your property to SYNERGY RE GROUP, LLC.
•  You give SYNERGY RE GROUP, LLC., the right to buy your property for a set price.
•  SYNERGY RE GROUP, LLC., places a tenant/buyer in your property.
• The tenant/buyer receives the right to buy your property at or above your agreed price.

The answer is simple. It doesn’t cost you anything. We make our money from our tenant/buyers, not from you. If you decide to do a lease option with us, you do not have to pay us a commission.

There is absolutely zero obligation on your part. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out if it’s a good fit, if your house qualifies for our program, and if we feel we will be able to make an offer or create a situation which is fair to you and fair to us.
From there, it’s 100% your decision on whether you want to move forward with us…and we won’t hassle or harass you…it’s 100% your decision and we’ll let you decide what’s right for you.

For the most part, as the homeowner you don’t have to do anything. We take care of all the paperwork as well as the placement of tenants and monthly payments. And because you don’t have to worry about the day to day repairs, the only thing you need to decide is where you want your monthly checks sent. It is really quite simple.

There is a huge difference! With a lease purchase, we require that the tenant/buyer put up a large binder deposit that is to be applied toward the purchase of the property! If the tenant/buyer does not buy the property, that “deposit” is non-refundable, which gives the tenant a HUGE incentive to keep his/her part of the agreement! The deposit therefore serves as an “insurance policy” against non-performance as well as damage to the property. And because of the amount of the “deposit”, it assures us that they are serious buyers who truly desire to become homeowners, not just renters.

We make your monthly payments while our tenant/buyer is qualifying for a loan. All your expenses related to the house are taken care of.
Our main objective is to put only high quality tenant/buyers in the house since we make our profit by eventually selling your house.

Since we guarantee all minor maintenance on the house, it is in our best interest to ensure that our tenant/buyer will take care of the home and eventually secure financing to cash you (the seller) and us out. This means that we put our tenant/buyers through an intensive pre-screening process before they are even permitted to look at the house.

We also set the tenant/buyer up with one of our credit repair partners to ensure they take the necessary steps to clean up their credit and work with their banker to qualify for a conventional mortgage at the end of the agree period.

We don’t work for commissions. And, because our profits are made by selling for slightly higher than what we buy for, we have a vested interest in the house and in making sure it gets sold.

There’s no way that we can guarantee you that a tenant won’t damage your house since you or we won’t be living with them. But under the agreement we will have with you, as the seller, if that happens, we will repair it at our expense. Our objective is not to find a “tenant”; our objective is to find a Buyer who will eventually own your house. We investigate them thoroughly before entering into any agreement. Damages are rarely a problem. In fact, in most instances we have found that our buyers many times improve a house with new carpet or some other upgrades, such as fencing. Again, if it does happen, we’ll fix it, and we’ll put that in writing.

We cannot give you an exact date. It will be up to the tenant/buyer to make that decision within the time frame that they have. We can tell you that we don’t get paid until they buy, so obviously, we’ll be pushing them to do so… quickly! In the meantime, your payments will be made each and every month, even if the house is vacant, which will relieve you of the financial burden while we’re selling your house.

That can depend on a number of different factors. We work with many mortgage brokers that are usually able to get most people financed after they have paid for 12 months on the lease option. Since everyone’s credit history and circumstances vary, that time period can be shorter or longer for the tenant/buyer that we eventually put into the home. Because of this, we cannot guarantee the exact time our tenant/buyer will secure financing. However, until our tenant/buyer qualifies for financing, we continue to pay all the expenses related to the home. It is also in our best interest to get our tenant/buyer a new loan as soon as possible, since that cashes us out as well. We aggressively work to get our tenant/buyer financed as soon as possible.

Our tenant/buyers are carefully pre-screened to ensure that they want to buy the house and are able to do so at some point in the future. However, circumstances can change in someone’s life, such as an unexpected job transfer that can make it necessary to move. In situations like that, we continue to pay all the expenses for the house while we find another qualified tenant/buyer to put into the home. Remember, we make our money when your house sells.

You won’t because your tenant will be SYNERGY RE GROUP, LLC. We’ll agree on a lease term—3 years, 5 years, whatever you want. And that’s the end of your vacancy problem. If our tenant/buyer moves out, then that’s our problem, not yours. We’ll keep paying like clockwork.

You’ll have 4 levels of protection.

• First, Synergy RE Group, LLC., will purchase a homeowner’s warranty at no cost to you and will keep it in force for the life of the lease.
• Second, the tenant/buyer will be required, by the terms of his or her lease, to perform all regular maintenance and repairs.
• Third, if any problem comes up that the tenant/buyer is unable or unwilling to perform, SYNERGY RE GROUP, LLC., will have to fix it.
•  And, fourth, you’ll maintain your homeowner’s policy to protect against incidents covered by insurance.

Our attorney handles all of the necessary documents to make the transaction happen. And the best part is that you don’t need your PhD to be able to read them. Of course, you are always welcome to have these items reviewed by your real estate agent or lawyer at any time during the course of the transaction. We want you to be 100% comfortable with everything before moving forward.

We can set it up however you like. Some of our homeowners like for us to electronically send the payment each month straight to their bank account. Others prefer us to set up an escrow account where we mail the rent to the escrow account and the account pays the mortgage. (You can call the escrow account anytime and request a statement of activity so you can see when the rent was paid and when the mortgage was paid.) We normally set it up to automatically pay your lender each month and send you the difference. That way you won’t have to worry about a thing.

We are Professional Home Buyers who have been buying, selling and leasing homes for more than 14 years. We have bought,
sold, and leased dozens upon dozens of homes and have never had a single complaint against us from any buyer or seller, in
our entire history of doing business. Besides we are in business to thrive and stay in business, not to hide…

We pay your mortgage company directly. It is simple, if we don’t pay, the lender will immediately notify you. You are always in
the know. Further, you can contact your mortgage company at any time to verify they have received the payment.

That certainly is an option, but obviously a Realtor won’t make your house payments for you while they’re attempting to sell
your house. Also, according to a recent survey, less than half of the houses listed with Realtors sell during the initial listing period.

Great Question. We are not Real Estate Agents, and we don’t list houses. We are Professional Home Buyers. We buy houses
which meet our purchasing criteria but only if we can assist you the seller out of your current situation outside of the traditional method.
Depending on the method we decide works for both you and us, we may put a Tenant/Buyer in the house, we may repair the house
and resell it to another home owner, or keep it as a rental ourselves.

Like we pointed out above, we are not Realtors. We are Professional Home Buyers who have been buying, selling and
leasing homes for over 14 years and we know what homeowners go through when they try to sell their homes. You may
be in the “thinking about it” stage of selling. Maybe you’ve already tried listing your house with an agent… maybe you
haven’t decided that you’re not ready to go that route yet. No matter where you are in the process, we can help you get
your house sold.

These are always options available to you. The difference would be that you are responsible for your monthly payments, maintenance
and repairs during the selling period. You need to try to find someone who can actually qualify for financing, wait for them to get approved,
and hope that they don’t pull out of the deal, making you start the whole process over again. Renting during this period opens entirely
new difficulties that would-be landlords often overlook, especially when you are trying to show the home and sell while renters are living there.

If you have the expertise to screen potential tenant/buyers, check references, know what sort of credit scores will allow someone to
be able to be financed, deal with maintaining your home while someone else lives in it, work with mortgage brokers to get them financed,
and finally, process all the paperwork and set up a closing, then finding a tenant/buyer on your own would be a viable option for you.
If you lack the expertise in any of these areas, we are able to help.