1. When can you tell me the amount of funds required to close escrow?

Upon receipt of your Rent-2HomeOwnership Documents, Property Locator’s Agreement and the Property is located and accepted by You…. then Preparation of your escrow instructions begins.  We will then contact you or Your Realtor® to let you know the amount of funds you will need in order to move into you new property (close escrow). You can expect to bring anywhere from 10% or 5% (maybe less) of the Agreed Property Value + Closing Costs. (Add 1% Approx.) to obtain ownership interest in the R2HO home.

2. Who will call me to schedule an appointment to see the properties?

Normally your Realtor® will call you. However, this can be handled directly by R2HO along with the title company who will call you to make arrangements for your signing.

3. Can I give you a personal check?

No, according to most state laws, all funds must be in the form of a cashiers check or via wire transfer directly to the title company and/or escrow agency selected for the signing (closing).

4. When do I get my keys?

At the signing of all of our Rent2HomeOwnership Documents (close of escrow) your Realtor® or the R2HO Representative at the title company will provide you with details on disbursement of the keys.

5. How much time should I allow for my signing appointment?

Please allow 35-45 minutes for your signing appointment. R2HO Documents and legal papers can be sent via Federal Express.

6. What will the title or escrow officer explain to me at my appointment?

Any and all escrow instructions with terms of your Lease-to-own trust property buy in agreement and explanation of costs in the estimated escrow statement, etc. The title or escrow officer will explain any reports and inspections that may be required and/or requested on the property. R2HO will also provide you with a complete package of all documents you have signed so that you may take it home for further review. Should you have questions after reviewing your package, please do not hesitate to contact your Realtor®.

7. What is an ABI (Assignment of Beneficial Interest Ownership)?

Assignment of Beneficial interest is both your actual and legally bonafide ownership interest held in the Property You both accept and agree to lease. This assignment will provide you the evidence of ownership and recognition as a co-beneficiary of the Trust. This ABI distinguishes you the prospective and Future Buyer(s) of the trust property from the Sellers (R2HO). It helps the title agency and lenders to later identify you as true buyers, title companies may disregard the judgments, liens or other matters in the public records of those having similar names.

8. What should I shop for: renters, homeowners, and/or fire insurance?

We suggest that you start shop for renter’s coverage. A Homeowners policy is already in place including hazardous (fire) coverage. As soon as your property has been both located and accepted by you: It’s a good idea to call your current insurer first for a personal property coverage policy. The R2HO recommends several providers and should you choose we can make a list of these available to provide you with a quote via phone or email.

9. What will I need to take to the Title Company when I go to sign my papers?

You will need to bring your cashiers check payable to the Title Company. Bring a valid driver's license, valid passport or Military I. D.

10. When will I get my Deed showing proof of ownership?

60 to 90 days prior to the end of your trust lease term... you should meet with a mortgage loan officer* (the one who referred you to us) to obtain your refinance to pay off the existing loan on the trust property you are leasing from R2HO. And once this refinance loan escrow closes the deed records with the county and you become the owner of your home. It could take 6 months to 3 years to accomplish. Once the deed has been received by your county it could take them a few weeks to mail the original signed/recorded deed back to you.