Homes for Sale or Rent to Own Tacoma – Seattle WaServing the South Puget Sound including Pierce, King & Thurston County
Saturday, December 15, 2018
Question and Answers
This page represents a typical scenario. The rent to own terms VERY from investor to investor and it is difficult to represent the different terms as the website would be very large and it would cause confusion on which program offers which terms. We will ask you what your goal is and then offer the terms the the then current rent to own investor option that we have available at that time. All terms will in writing upfront. If you are not satisfied with the terms there is no cost or commitment on your end.
YOUR REQUIRED CASH DEPOSIT
Leske Realty’s Rent to Own program requires either Option (A) a $3000-$5000 initial down – per investor
RENT TO OWN COSTS & FEES
The Investor charges a market appreciation fee based on the purchase price of the home for completing the RENT TO OWN home purchase. This fee ensures the investor will not sell the home to anyone but YOU while you are leasing the home from them. The Fee is typically 3% of the total purchase price (But may vary per investor). There are NO FEES to apply or to get qualified for RENT TO OWN. Total costs and fees are assessed when a Leske Realty Agent makes an offer on your dream home, the offer is accepted by the seller, and you agree to the lease and purchase agreements.
CANCELLATION FEES
If you decide, for whatever reason, you do not wish to pursue the financing and purchase of the home from the investor within the initial 6 year period, you may elect to not move forward with the right to purchase agreement and receive back your deposit provided the home is in the same condition when you moved in. Your rental contract term is based on a per contract basis and per investor basis. Please read your individual contract terms.
CLOSING ESCROW
When you are ready to secure a traditional mortgage and close escrow at the pre-determined amount as set in your schedule, you simply notify the investor and the transaction is completed. There are no pre-payment penalties or early closing fees. You may purchase your home from the investor at anytime up to 6 years. Leske Realty’s Rent to Own provides you the flexibility to secure your future mortgage on your time schedule.
YOUR FUTURE HOME APPRECIATION
While you are living in the home in good standing and are in an active agreement with the investor, any market price appreciation of your home, above the agreed to schedule, accrues to you. If you are able to sell the home at any time for more than you are required to pay the investor on your schedule, the excess profit (minus standard sellers closing costs) is yours to keep or is retained as home equity after you obtain a standard mortgage and purchase the home. This is on a per investor basis.
Who is the Investor?
Leske Realty’s Rent to Own program is unique in nature. We do not typically own homes that we are trying to “’sell you” under Rent to Own terms. We are offering the funds for you to choose the home and our investors to purchase it and you rent to own it back from the investors. So who are they? We have a select group of investors that have passed quality control standards and have verified the financials to support our specific program terms. Some of our investors are backed by Wall Street through diversified hedge funds. Some are private money investors and individuals. Collectively they offer over $150M in available funding capital that is earmarked for the Pacific Northwest real estate market.
DO WE HAVE ANY OWNERSHIP IN THE HOME?
No. You are a resident tenant until you exercise your right to purchase and close the sale.
HOW ARE WE INCLUDED IN THE RESIDENCE SELECTION PROCESS?
You are involved in the single family residence selection process in much the same manner as if you were buying the house on your own. After you select the property you want to live in, the investor works with you and your Leske Realty real estate agent on the offer and any counter offers. You and your Leske Realty Agent inspect the home together before the investor purchases the property and your lease of the house becomes effective.
HOW DO COMMISSIONS WORK?
The investor does not employ real estate agents or provide those services. The investors work with unaffiliated Leske Realty agents who are entitled to traditionally negotiated commission that is pre-defined in each MLS listing agreement that is paid by the seller or bank to a Leske Realty agent. You do not pay any fee or commission for real estate services.
WILL WE HAVE TO PAY MORE MONTHLY THAN IF WE WERE JUST RENTING THE HOME?
Your monthly lease payment will be comparable to rentals in similar neighborhoods for single family homes of similar value. Your monthly lease payments will be specified in the Lease Agreement. Lease payments will increase slightly on a fixed schedule for the six-year term.
HOW DO WE CALCULATE OUR MONTHLY LEASE PAYMENT FOR THE RESIDENCE OF OUR CHOOSING?
Since every residence and neighborhood is unique, it would be best to call our designated Rent to Own financial advisor and mortgage specialist with specific financial questions or the address of a property you are interested in and they will provide you an estimated payment schedule, at no cost or obligation.
DO WE GET A MORTGAGE INTEREST AND PROPERTY TAX DEDUCTION DURING THE TIME WE LEASE THE HOUSE?
No. Because no portion of your monthly lease payments involve the direct payment of mortgage interest or real estate taxes, no portion of your lease payments will be deductible for income tax purposes as mortgage interest or property tax payments. You pay traditional rent until you obtain your own mortgage loan and are vested in title.
WHAT HAPPENS IF WE WANT TO TERMINATE THE PURCHASE AGREEMENT SOMETIME WITHIN THE SIX-YEAR ESCROW PERIOD?
You have tenant rights under your lease agreement and you have an option to purchase. You will never be required to make the final purchase. That is your right if you decide to do so however. You must honor the lease terms of your tenancy per the agreement.
WHAT HAPPENS IF THE HOUSE IS WORTH MORE THAN THE PURCHASE PRICE IN THE PURCHASE AGREEMENT WHEN WE CLOSE ESCROW?
You will never be required to pay more for your home than you agreed to in the Purchase Agreement. Any appreciation above the fixed schedule of fees you originally agreed to is yours to keep, if you choose to sell the home. For example, if the Purchase Agreement fixes the purchase price at $275,000 but the house is worth $350,000 when you elect to close escrow, the $75,000 in appreciation will be paid to you (standard sellers closing costs apply – typically 9-10% is the cost of sale on residential real estate).
WHAT HAPPENS IF THE HOUSE IS WORTH LESS THAN THE PURCHASE PRICE IN THE PURCHASE AGREEMENT WHEN WE CLOSE ESCROW?
 You then decide if you wish to follow through with the purchase or not.
WHO IS RESPONSIBLE FOR THE MAINTENANCE OF THE HOUSE DURING THE TIME WE LEASE THE HOUSE?
The investor is. They own the home and are responsible under the landlord tenant act.
WHAT KIND OF CUSTOMER SERVICE IS AVAILABLE? CAN WE CALL AT ANY TIME WITH QUESTIONS? WHO WILL WE WORK WITH?
During the approval and closing process you will be assigned a transaction coordinator to work with you every step of the way. Once you have moved into your home, you will be given a number to the property manager who will provide you with information or answer any questions.
AS PART OF the rent to own program, WILL YOU HELP US GET A MORTGAGE?
If requested, YES – we will introduce you to one of our trusted unaffiliated mortgage providers. Although we are not a mortgage lender, broker, or mortgage banker, we will assist you in working with mortgage providers in qualifying for a mortgage. Remember, the program is designed for individuals who want to and should be able to get traditional mortgages to close on their escrow, so it is in everyone’s best interest to see you get a suitable mortgage.
CAN WE BE EVICTED FROM THE HOUSE ONCE WE HAVE A LEASE AGREEMENT WITH YOU?
As long as you are current on your lease payments and in compliance with your other agreements with us, you cannot be evicted from the house. However, if you cannot qualify for a mortgage within the six-year escrow period, you will be required to vacate the house and the investor will retain ownership.
WHAT’S THE CATCH?
There is no catch. Under the Rent to Own program the investor seeks to purchase the home of your choosing from it’s current owner after you have entered into the Purchase Agreement and the Lease Agreement. The Purchase Agreement and the Lease Agreement are both conditioned on the investor acquiring the property from the current owner. Unless the investor initially purchases the house, you pay nothing going forward and any deposits and fees previously paid to the investor will be returned to you.
WHY IS LESKE REALTY OFFERING THIS PROGRAM? WHAT’S IN IT FOR THEM?
Leske Realty is a for profit company. We receive a normal industry standard commission paid by the investor to create the oportunity.
So how do I get started?
You simply go on line and fill out our application. We will pull your credit and review your situation to make sure you meet the program guidelines
How long does it take to know if I qualify?
We will have an answer for you in 24-72 hours
What paperwork will I need?
Once we review your credit profile, we will send you a “needs list” to complete. Everyone has a different challenge to deal with, so the list will vary. Be prepared to provide 12-24 months bank statements, W-2’s and tax returns for the most recent 2 years and 30 days recent pay stubs. An explanation letter will be needed to outline your situation. We want to be clear on your situation so we can help you with a plan and timeframe to convert your rental into a home purchase loan!
No. No short sales or Bank Repos. Limited new homes.
Can I sell something to get the down payment or get money from friends and family? How much do I need?
YES! Your funds for down payment will not be sourced. You WILL need to have funds in reserve, as well. Our investor requires 2-3 months of the rental amount, in case you run into trouble. This can be a 401K, an IRA or equity in another property. T
Can I remodel the home while I am renting?
Typically yes with small items with detailed written consent from the investor. Some investors may not allow it.
Will the purchase price be the same as it was in the beginning of the rental contract?
You can rent the property for 1 month to 4-5-6 years. The investor will charge you the original sales price plus an annual appreciate plus the cost to close the original sale and other fees which will all be disclosed in writing.
Can the seller sell the house out from under me?
No. With an option to buy, you have legal rights to the property.
I am well qualified and just want to buy a bigger home and keep my current home. My lender said I don’t qualify for both house payments! Can I buy with this program?
Maybe. On a per lender approval basis. We can use a rental agreement on the home you are leaving to offset the current mortgage payment.
Can I use my own lender and Realtor for this program?
No, this is an exclusive program with Leske Realty. If you choose to use this program, Don Leske or one of his designated associate brokers, will need to provide you with their excellent service!
Can I buy an investment property?
No. This is for owner occupied properties only. No multi-plex units allowed.
Can I buy with a co-signer, if I need to?
Special circumstances would need to apply. An example would be elderly parents moving in with their children. The situation would have to “make sense.”
What if I don’t like the house, after I have moved in? Can I get my money back?
Read your individual agreement for terms.

Client Says

  • We would like to take this opportunity to express our appreciation for the exceptional job our realtor, Mr. Donald Leske has done with our recent real estate transactions. Mr. Leske has successfully helped us complete three real estate transactions in a relatively short time span beginning since November 2001. Bob and I were married in January 2002 and
    timing was of the utmost importance in selling his house, my house and most importantly, purchasing our new home.

    During our association with Mr. Leske, we have been impressed and pleased with his professionalism, courtesy, and attention to details and knowledge of the real estate business. We have appreciated his promptness and his flexibility while working around our busy schedules. Both Don and Sarah have treated us both like we were their most valued clients and were very accessible as they communicated and constantly updated us on our progress. Last of all, we were especially pleased with Mr. Leske’s work on Melinda’s house. It sold for greater than our asking price and Don’s superb organizational skills and attention to detail made it a painless and satisfying transaction. Mr. Leske is to be commended for a job well done, and we highly recommend him to any potential home buyer/seller.

    Bob & Melinda

  • We would like to express our thanks and gratitude to Mr. Don Leske and his team for the successful sale of our home in Kent. We were very pleased with his services in every way. We started out by interviewing three top agents in the area.We chose Don because he clearly stood out as the best choice of options based on price and the timeframe we needed to sell. His marketing strategy was thorough and he came well prepared to our interview. He presented himself with an air of confidence and honesty with a “can do” attitude. Of course, his guarantee to sell in 45 days was a deciding factor

    Besides Mr. Leske’s competence and thorough knowledge of selling real estate in the area, we like him on a personal level also. Don’s tact when dealing with sticky situations and his calm and positive nature helped to keep us assured throughout the whole process. Don always looked and acted in a professional manner. The best part of all, Don delivered on all of his commitments to us. We were completely satisfied with his accomplishments. We know that Mr. Leske got us the best price in the quickest amount of time possible. He also demonstrated the patience of a saint by assisting us through our anxiety and our non-understandings. For example, he had to explain the closing costs several times to us and he did so pleasantly and successfully without getting frustrated. Everything was first class. So thank you Don and your
    team for selling our house. Please use us as a reference in the future. We also will not hesitate to recommend the Leske Team to anyone we know that is selling their home.

    Diane & Noah

  • Thank you so much for your professional courtesy and results in the sale of my mother’s home in Puyallup. As you know,she passed away last year and the heirs were left with the task of selling the residence. As five of the six siblings were located out-of-state, I recognized immediately that a local professional realtor would be required to sell the house. I also recognized that this person would have to be of high integrity and have good work ethics in order for the transaction to occur in a reasonable amount of time. Being a real estate appraiser, I have seen many out-of-the state ownership problems with real estate sales. Your company and you specifically smoothed out all the bumps in the road to selling this home and did so in a polite courteous manner. Never once was I put off or put “on the back burner”. You answered all my
    questions and concerns very responsibly. Additionally, you used the e-mail for photographs, correspondence, and information, which sped up the entire closing process. Thank you Don for a job well done.

    J. Corak

  • Our Agent was right with us the whole way; he made the whole process stress free. He was very helpful to the end. If it wasn’t for Don Leske I would have never gotten my house sold and gotten the house of my dreams. Hats off to the Leske Team.

    Kimberly

  • Our Agent was friendly and professional, he kept us updated every step of the way. I am so glad we listed with Don Leske instead of For Sale by Owner; he made us an additional $38,000.00.

    Amber & Daniel

  • I am in the retail business and the Leske Team all worked together to make my selling experience a great one! They listened to my needs and did it with class and style. A++!

    Mr. & Mrs. Lawrence

  • Don and Sarah Leske were very helpful selling our house, they were available whenever we called and if we had to leave a message, they would get back to us in a timely manner. We were very happy with their service.

    Paul & Shelly

  • Our Agent did a wonderful job selling our home. He got full price for the home and he was always responsive to our phone calls.

    Bob & Evette

  • The Leske Team gave professional attention to the selling process from beginning to closure. We felt overall our concerns, and suggestions were handled well and promptly.

    Randall & Angela

  • As a military veteran and one who has worked his whole life giving to others I want to take this opportunity to thank you all for what you have given to me. This experience has been one of the best if not the best experience I have ever had working with such amazing professionals. This whole purchase has went seamless and smooth and I have had so much support from all of you that I didn’t have a chance to even think this wouldn’t be possible. Thank you so much for making the dreams of my first home come true. This has truly been a pleasant and non stressful event from day one. All of you realized the frustration in my voice or emails and absolutely made sure to take that worry and frustration off of me and make it your own. Thank you for helping me to wake up in MY HOME this morning. I truly wish all of you the best in both your personal and professional lives. For what you have given me I can never repay but I will be there if you should need anything both professionally and personally. Thank you once again.

    Jim Steele Baydo Chevrolet SGT, U.S. Army (ret) Proud home owner

  • Our agent was very knowlegeable with all aspects of her field. Any questions or concerns were answered immediately,which gave us confidence in our decisions. Most importantly we were kept in the loop of things, and returned calls/ emails were answered in a timely fashion. The whole team was very helpful, and professional. I would highly recommend our agent Sarah Leske and Leske Realty for those who are looking to buy or sell a home. I know it’s people say this a lot, but we were really treated like family.

    Gene & Kea Anderson

  • We were treated very well! Our agent listened to our needs and was great at guiding us since we had never sold a house before! He was very friendly & professional. He kept us updated every step of the way. We are so glad we used Leske Realty instead of FSBO because they made is an additional $38,000.00!! We will definitley refer our friends and family to Leske Realty

    Thanks so much Team!
    Amber Hedges & Daniel Dunham

  • “We wanted our first home to be a dream come true. We tried several real estate agencies and have never felt that our needs were being listened to. When going to the Leske Team, we instantly felt at home and had an instant relationship with our agent. He was genuine to our thoughts and was very honest about the floor plans and areas we had looked at.
    This was much appreciated and allowed us to find the home that fit our needs, fit our desired area, and above all…we had no regrets in purchasing as our first home. From the bottom of our hearts, thank you Leske Team.”

    Brian & Chrystal

  • Everyone we worked with on the Leske Team was knowledgeable and helpful. They made what can be a stressful experience, easy to deal with. We would highly recommend them to friends and family!

    Terry & Stephanie

  • The Leske Team made us feel like real people. When our agent was out of town he let us know who to be in touch with and when there was a question, they were more than willing to help.

    Tim & Laura

  • Our Agent showed us a home we knew we wanted to be our new home, even though it was after hours, he called and left the listing agent a message. By 2:00 pm the next day our offer was accepted. We accredit this to the diligence on the part of the Leske Team. You guys are great, if we ever decide to sell, we are calling you. Thank you so very much.”

    The Jones Family

  • The Leske Team was a pleasure to work with. This was my first home and Don shared in my excitement, he worked very hard to find a home that I would be happy with. He was always available for questions and always returned my phone calls and emails promptly. Don was always in my corner, making sure that things proceeded in a way that was always to
    my advantage. I trusted him, and would recommend Don to anyone shopping for a home. He defines good customer service and makes providing it look easy

    Mrs. Henry

  • My agent did not push me into a purchase, we spent a long time looking and he was very helpful.

    John

  • Our Agent was wonderful, and I would recommend the Leske Team to anyone and everyone I know. I was referred to them by a co-worker, when the realtor that I was working with (from another company) wasn’t working out. Now I pass out the Don’s phone number like he is family

    The Lopez Family

  • Our expectations were exceeded! Don was very aware of what we wanted in a home. Great to work with and guides you through the entire process.

    Rob & Deb bought a home in Puyallup

  • The Leske Team is outstanding, all of our needs were met, our questions answered and our concerns put to rest. When it comes time to buy our next home, the Leske Team are the ONLY people we will be talking to.

    Ted & Angela

  • This is my first house, this so-called Leske Team made buying it the easiest and hassle-free decision that I have ever made. How I wish every decision and life was this painless.

    Oscar

  • Don was wonderful to work with. As first time home buyers she explained he explained the entire process to us and let us know what to expect. He did an outstanding job in helping us resolve an issue with the prior owners in regards to junk that they had left behind.

    Ray & Curtis

  • The Leske Team did a very good job of helping us find a home. Don was friendly and went out of his way to get us answers on the home we did buy.

    Lynne

  • We were very impressed with the Leske Team, they were helpful, informative and to the point. They asked us what we were looking for and he delivered just that. We would refer Don Leske to family and friends in a second.

    Harry & Brenda

  • The Leske Team is like the “A” Team that does the mission impossible. We were not sure we would be able to get the home that we wanted, but the Leske Team made it possible. Thank you Leske Team!

    The Kirtland Family

  • We wish to extend our personal thanks and appreciation for all of your work and dedication to your profession. It was at times difficult at best, but the Leske Team was there to make sure things went as best as they could. We are settled into
    our new home, and I feel very comfortable to recommend the Leske Team to all my friends and family, which I have already done.

    Phil & Deborah

  • I am a very picky buyer on a limited budget. I am an agent’s worst nightmare. The Leske Team is awesome and listened to what my wife and I were looking for and went to work finding us our home. Every home they sent us via e-mail was one that we would be interested in. We finally made an offer on a house and we got it. During the closing process, there were complications with the seller. Most agents at this point would have given up, but that is when the Leske Team went to work, they ironed out all the problems before I even knew what had happened. They are a wonder of action, and they have won my respect, and anyone doing business with the Leske Team is lucky. The Leske Team wanted what was best for us and never tried to rush a sell. I would recommend them to anyone.

    Dallas & Leah

  • The Leske Team did an excellent job of making my home buying process very professional and stress free, it was a good feeling. Knowing that they were there looking out for my best interests and just not there for a paycheck. It was very much appreciated and I look forward to working with them again in the future.

    Our Agent effectively listened to our needs and respected our position in the marketplace. Our agent aggressively pursued all aspects of the home buying process for us and was there to support us from start to finish.

    Rick & Kate

  • Right from the beginning the Leske Team knew they would be handling a challenging case as our credit was not too good. Don knew what we wanted to pay in a house payment and helped us to reach that goal. We also got to deal with Sarah and again were knowledgeable. Thank you Leske Team for helping us to find our brand new dream home. We never believed that we could get financed for a home after we fell onto some very hard times. After hearing the Leske ad on the radio (saying they can help anyone), we called and spoke with Don.

    Wow! It was great working with the Leske Team as they were very knowledgeable in all areas of finding and purchasing a home. After seeing a few houses we soon discovered that Don was very approachable and helpful without being overbearing. Don was accommodating with our crazy work hours and only missed one opportunity to show us a home, but
    due to the great teamwork at the Leske Team, Sarah stepped up to the plate and showed us the home that we purchased.

    The only problems that we had during buying the home, was from the seller’s realtor and Don was great at resolving every one of these issues. We look forward to dealing with you in the future!

    The Carey Family

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