VIEWS: 240 PAGES: 1 CATEGORY: Lease/Rental Agreements POSTED ON: 10/17/2008
The lease busters programs is designed for current renters that want to break their lease in order to purchase a property.
Lease Buster Offer Details The Lease Busters program is designed for current renters that don’t want to miss the best buyers’ market in decades. This is especially valuable if you’re on a month-to-month lease or near the end of your current lease. Some leases, however, do not have escape or early out clauses. Ask your landlord or review the lease you signed when you moved in. The Lease Buster program is not to be construed as an inducement for breach of contract. It is a tool that gives you more flexibility to purchase a home within the confines of your contract or lease. The fine Print: • You must have fun looking for your new home • The maximum value of this offer is $2,000. o The payment, if any, will be made at closing as a credit on your settlement statement. o We will only buy out the portion of your lease necessary to achieve your negotiated closing date. See examples below. • You must use Scott Ireland of 360 Realty Services to purchase your home. o A ‘Contract for Exclusive Right to Represent Buyer’ must be signed by 6/30/2007. o There are no real estate brokerage fees for the buyer when purchasing a home* • You must use Todd Ingebritson of Advisor’s Mortgage to finance your home. o You must submit a loan application by 6/1/2007. o You must close on your new home by 7/30/2007. • This offer may not be used in conjunction with any other offer(s) including 360 Realty Services’ 1&1 Program Lease Busters example payments Rent $ 750 $ 1,000 $ 1,250 $ 1,500 Close Date 6/15/2007 6/15/2007 6/15/2007 6/15/2007 End of lease * 8/15/2007 8/15/2007 8/15/2007 8/15/2007 Credit at Closing $ 1,500 $ 2,000 $ 2,000 $ 2,000 Rent $ 750 $ 1,000 $ 1,250 $ 1,500 Close Date 7/15/2007 7/15/2007 7/15/2007 7/15/2007 End of lease * 8/15/2007 8/15/2007 8/15/2007 8/15/2007 Credit at Closing $ 750 $ 1,000 $ 1,250 $ 1,500 *Either the contractual end of your lease term or the date that you can legally escape your lease *Many Brokerage firms charge a Broker Administrative fee, or similar sounding fee, that is generally around $300. 360 Realty Services does NOT charge administrative or any other type fee to buyers.
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