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 Dallas/Fort Worth market, Home Partners has partnered with Coldwell Banker Residential Brokerage.
“I have helped dozens of clients find a home through Home Partners of America – it’s a fantastic option for people who need a little more time before they buy,” noted Rick Baker, an independent sales associate with Coldwell Banker Residential Brokerage’s Frisco office and the #1 Lease with a Right to Purchase Realtor® in Dallas/Fort Worth. “Whether they’re first-time buyers saving a downpayment, newly relocated and want to ‘try before they buy’ or recovering from bankruptcy, the Lease with a Right to Purchase program gives them choices they didn’t have before. Just in the last year, I have been able to help families who were coming out of bankruptcy all the way to a CEO being relocated to Dallas who made hundreds of thousands of dollars per year. For each family, it wasn't the right time to buy.”
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.
To learn more about the program, contact Rick Baker at This email address is being protected from spambots. You need JavaScript enabled to view it. or 972.836.8880, or visit CBDFW.com or your local Coldwell Banker Residential Brokerage office.
