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Heather Thram
Rick Thram
Christina Meyer

Friday, July 22, 2016

Our Rent-to-Own Advantages Offered in Prior Lake

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Today I wanted to address some questions about rent-to-own homes and contract-on-deed situations.

Should you rent-to-own or buy on contract-on-deed? Traditionally speaking, it's been difficult because there has been no pure method for doing it; you'd have to find a property that the seller has enough equity in to sell on a contract for deed, or you'd have to sell contract for deed into a secondary market, which is not well-established.

Rent-to-own is a great alternative to conventional financing.

Currently we have exclusive programs for people to purchase properties on a rent-to-own basis with as little as two months of the rental price as the down payment. It's actually an option contract, so if they live in the property during the first year of rental and find that they don't want to purchase it, they're not required to purchase it. The benefit of these programs is that you can capture a predetermined price on the new home that you're interested in at today's market rates.

So if there is an increase in the market like the one we've seen in the Prior Lake real estate market in the last few years, you can lock in a price at today's prices, plus an accelerator that's within a reasonable appreciation rate. At the same time, it allows for you to get your home in a solid position even though you might not be able to finance in conventional terms right now. You can choose just about any home that's on the market for a traditional sale and buy it as a rent-to-own.

If this a program you're interested in, click here for more info [link] or give us a call. We'd love to be able to help you!

Monday, June 13, 2016

An Alternative to the Risk of Buying and Selling Simultaneously

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Buying and selling a home simultaneously can be harder than it sounds, but it can be done. Traditionally, buying and selling at the same time takes one of three courses:

  1. Putting your home on the market while you're currently shopping for homes. If you found the perfect home before your home was sold, unless you can purchase without selling your home, you'd write a contingent offer. A contingent offer is one that's going to have the least amount of clout with a home seller. With your home unsold, you can't guarantee that you'll be able to perform on the purchase agreement.
  2. Sell your home first and hope that the home for you is available between your sale and the closing date that you set on the purchase agreement. Many home sellers don't like this course of action, because they're afraid that once they've sold their home that they won't find the perfect home to move to. This is especially true in fast-moving markets.
  3. Either purchase your next home without your current home selling and risk the possibility of having two mortgage payments, or just plan on making two moves. The second option involves selling your home and moving into a rental while you search for a new home.

All of these have been the courses of action over decades and decades of home sales. Now, we've got a better answer - what we call the trade-up program. With this program, if you're a seller looking to purchase your next home, we offer you the services of our home buyer agent to help you find the perfect home, and at the same time when we list your home for sale, we offer to do a trade up, which is essentially a guaranteed sales price on your home, contractually binding us to purchase your home if we don't sell it in a prescribed amount of time.

Our trade up program is very in tune with the current market value of your home.

Unlike other guaranteed sales offers, our trade up program here in Prior Lake is very in tune with the current market value of your home. It's not a program where we offer you 70% of market value and strip all of your equity away. We can utilize market evaluations and appraisals, and offer you a very competitive bid on your home, and get you in your next home at the same time.

If this program may fit your needs or you have any questions about real estate in our area, please feel free to reach out to us.

Thursday, May 12, 2016

How Our Team Stands Out from the Crowd

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Today we are back to answer yet another one of your questions, “How does the Thram Home Team stand out from the rest of the pack?”

When creating our team, we tried to look at all the issues consumers might have with Realtors. By and large, the top issue is communication. Having a team that has members who specialized in individual areas of the transaction means that you’ll hear from each of these members on a more regular basis.

"The data we bring you is more likely to be in-tune with the market."

The data we bring you is more likely to be in-tune with the market and your needs than the information you would get from a solo agent. We specifically try to master different parts of the transaction so we can ultimately be experts in them all.

In subsequent videos, we’ll be introducing you to each of the members of our team. They each master a certain aspect of the transaction. If you have any questions for us, don’t hesitate to reach out by giving us a call or sending us an email. We look forward to hearing from you!