Have you heard of Divvy Homes?

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May 14, 2021 Views5,540 Answer a Question

Do you know of similar rent to own programs that actually work?



Click here to apply: www.divvyhomes.com/a/agentpaulineclement


Asked by
REALTORS®
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Realtor Only
About 3 years ago
Yes! It's a company that helps buyers lease to buy.
#1 Awarded – Best Answer
About 3 years ago
Yes, it is similar to other Lease -To- Own programs such as Home Partners of America & TRIO. The process for the applicant (your client) is pretty basic. One must be invited by their realtor to apply, they must meet the qualification for rental (credit scores, no recent evictions etc.) After meeting all qualifications, they're invited to shop for a home with "their" agent. The agent in turn becomes the agent for Divvy because Divvy will be the home purchaser. Once the lessee finds a home (the home must meet certain DIVVY criteria, i.e., pretty much any regular single family home except NO Condos or Mobile Homes), Divvy goes into the offer/buying process like a normal transaction. At the end the agent earn the negotiated commission. The lessee then signs on to a one year lease that can be renew each year for up to 3yrs and within that 3yrs they can buy the house from Divvy. A portion of what the lessee has paid in rent goes towards the pre-determined and agreed upon purchase price. The lessee does not have to wait to start the purchase process. As early as 60 days after moving in, they can buy the house OR if they decide they don't want to buy it they can just not renew their lease and move on. The lessee is NOT obligated to purchase the house. In essence, as the realtor, you will do two transactions within one. You will be the buying agent for Divvy and the leasing agent for Divvy's soon to be tenant. For more info, go to Divvy.com; sign up to become a Divvy agent and watch their short informational/training video. Its free to be a Divvy agent.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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