The United States Patent rent to own and Trademark Office has issued the Trade-mark "The Famous Rent to Own on-steroids Program," into a Florida real-estate broker investor, his business, Advanced Realty Group, Inc., introduced today.
"We began getting dreadful aggressive if industry collapsed and tried lots of ways to let properties faster and for more money when the market collapse shut real-estate revenue down," said George Beardsley, broker-president of the Dunedin, Fl-based real-estate real estate brokerage boutique.
Because the plan developed, it was designed to allow it to be easy for individuals who had dropped a home or elsewhere failed to qualify for conventional lending and for people who failed to have a big sum of cash, a spokesman said.
"Most rent-to own programs provide the tenant-buyer a couple of hundred dollars credit toward the obtain for each month of the hire period," Beardsley said. "We said what if we all offered them every one of the rent as advance payment? If we really can sell that quickly it'll save mortgage interest while we wait for a purchaser and we might not have to pay another real-estate agent whether this speeds up the procedure," Beardsley stated.
Despite the super credit, the problem stayed in the present market a year will most likely not be enough time for the tenant - buyer to cleanup his credit and permit obtaining a standard mortgage, the spokesman said.
"So we said, let's take the houses we are getting back in bad situation and give a personal mortgage if the buyer may take the home in present "as is" state and preserve it for a yr as though they already own it and make 12 straight monthly payments on time." Beardsley said.
"What we wound-up with was just as much like your normal rent-to own or lease option whilst the Wright Brother's air-plane was into a modern aircraft," the spokesperson said. "Somewhere as you go along, maybe after studying the sports site someone said this may be the rent-to own on-steroids," Beardsley mentioned.
"The term renowned only seemed to match and we applied for the Trade-mark," Beardsley said.
"Obviously, you can find more rent to own particulars and for practically any landlord or prospective home seller who's interested, George is ready to describe how we have produced this and he's even written a book on the Well-known Rent-to Own on-steroids Program(TMark) which can be obtained from Advanced level, said the spokesman.
