More Questions ...

 

FAQ
What happens if there is a massive spike in property prices and the seller no longer wants to sell, or the reverse and the purchaser no longer wants to buy?

  • The Seller is tied to the price negotiated during the Option Period and thus the Purchaser will have the benefit of such price "fix".
  • If the Purchaser no longer wants to buy, he can waive the Option and or both parties can agree to terminate the Option Agreement.


FAQ
Who would pay maintenance costs of the property?

  • The Purchaser pays the maintenance costs during the Option Period.


FAQ
What happens if the purchaser defaults with his/her rental payments?

  • We assist the Purchaser prior to entering into the r2b Option Agreement to determine their affordability and will mentor him/her along the way.
  • If he/she defaults and fails to remedy the breach, the r2b Option Agreement is terminated and the buyer evicted.
  • The r2b rental insurance will cover the rental income for 3 months and the legal costs for eviction.


FAQ
What happens, if after 2 years the purchaser still can't get finance?

  • The Option will lapse but can be renegotiated (perhaps for a higher purchaser price)
  • The owner is still the owner and may have the benefit of an escalation in the value of the property during the option period, while the tenant paid his/her bond, rates, taxes and levies.


FAQ
I assume that rent that will be paid is higher than market related rentals?

  • Yes – The rent will be equal to the bond installment the buyer will have to pay eventually. Proving your ability to afford a property and qualifying for a bond will require that you step into the shoes of a home owner, even if it is referred to as "rental".