While we can't always guarantee that a landlord will be interested in selling you the home that you're renting, it is certainly a possibility. However, there are some steps that you'll need to take first:
- Figure out what you want to offer for the property. You should start by looking at Zillow to see what their estimated value of the property is, then look around the area to see what other similar houses have sold for. You can always hire a real estate agent to assist you as a buyer's agent.
- Go to your bank or to another mortgage lender and get pre-approved for a mortgage loan (assuming you aren't planning to pay cash). You will need to submit a pre-approval letter before we will take an offer to the landlord.
- Submit this form and Revolution will take your offer to the landlord and see if they are interested in selling to you.
Please note that Revolution will not talk to the landlord about selling their property to you until these steps have been completed, because these are necessary steps to make the process go smoothly. All too often, residents want to make offers on a property, but then they find that they can't get approved for a mortgage, and then everyone has just wasted a lot of time (including the resident). In other cases, residents want us to ask the landlord about selling without even knowing what they are willing to offer or what the house is worth, and that just doesn't work. We need to have these things worked out before going to the landlord with your interest.
We certainly wish you luck and we hope to hear from you about submitting offer! Home ownership is the fastest and most common way towards building wealth.
