FREQUENTLY ASKED QUESTIONS
Q: Are your homes for sale or rent-to-own?
A: All RebuildUS homes are for sale via either a Cash Sale or aContract for Deed or other form of real estate installment sale.
Q: How is a contract installment sale (contract for deed financing) different from renting-to-own?
CONTRACT FOR DEED/LAND SALE AGREEMENTRENT TO OWN
Resident is calledHome BuyerRenter or Tenant
Freedom to own pets, make Improvements.Home Buyer has the freedom to make any improvements desired, to own pets, and include family members.You do not own the home, and need permission to make improvements. Pets (and pet deposit) are usually optional.
Qualifying for financing?Contract for Deed is not bank-financing, so QUALIFYING is MUCH EASIER.Landlords typically run credit reports.
Payments add up?All of your payments on the contract count toward the total purchase price or interest for your home.Security Deposit is a reserve against damages. It does not go toward the lease amount.
After fees, interest, etc., only a small percentage goes toward your balance.
What are the Tax Benefits?YOU get tax benefits
• Income tax deduction
• Property tax deduction
• Insurance and other deductions
• (ask your tax advisor)You get NO tax benefits - they remain with the property owner.
What if I need to leave?You can't be moved out if you're current on payments. You can leave. RebuildUS can help you make a transition.Leases and rental agreements can be terminated.
ABOUT THE BUYING PROCESS
Q: Can I make an appointment to take a look inside?
A: Yes. We can provide a local real estate agent or property manager will show you the property, or in some cases, we can give you access without another party with you. A few simple things need to happen first:
a) Go to www.RebuildUS.com, click "Sign up" and follow the prompts to provide some basic information about yourself
b) You will receive a confirmation email that you have signed up
c) You will receive a call from one of our Home Coaches to be pre-qualified.
d) We will provide a lock combination code, after which you may tour the home at your leisure.
Q: Can I have the utilities turned on for an inspection?
A: Yes. Contact RebuildUS to arrange this.
Q: What does it mean when a property is being sold "as-is"?
A: "As-is" means the home in its current condition. So, "as-is" could mean "ready-to-be-inhabited", or it could mean "needs work" to some of the home before you would want to live in it. If you are handy or even a professional contractor, this type of opportunity could be ideal for you.
Q: Should I get home inspection report on the property before deciding to purchase?
A: Buyers of RebuildUS homes are encouraged to conduct a thorough inspection of the home prior to committing to purchase. It is a good idea to use a licensed home inspector. All inspections should be completed prior to the purchasing process.
Q: Do I pay a deposit?
A: No, if you buy a home from RebuildUS, you pay an earnest money - down payment. Like all money collected from you by RebuildUS, your down payment goes toward the purchase price (and interest) , dollar-for-dollar Again, we encourage you to conduct a very thorough inspection, using a professional if you choose to, before you commit to purchase the home.
Q: Do I need to obtain insurance on this property?
A: Yes, if purchasing via aseller-financed Contract for Deed or other real estate installment sale contract you will be required to place insurance coverage on the home and name the Seller as an Additional Insured/Loss Payee on your policy.
Q: Will RebuildUS check my credit?
A: Yes; however, our requirements regarding your credit worthiness are typically more flexible than a bank or traditional mortgage company. If you are currently employed and can show sufficient income to cover payments, and have a good rental history (landlord provides referral) you can be approved at RebuildUS.
Q: Can I buy a home if I've had a foreclosure or bankruptcy?
A: Yes (to both).
Q: Can I pay cash for a RebuildUS home?
Q: Does RebuildUS take section 8?
A: No, we do not take Section 8 vouchers since they can only be used for qualifying rental properties.
Q: Does RebuildUS take cash vouchers?
A: No, we do not take cash vouchers since they can only be used for qualifying rental properties.
Q: Does RebuildUS do "rehab loans"?
A: No, seller financing for repairs or rehab work is not available at this time through RebuildUS.
Q: Does RebuildUS finance more than the house costs so I can make improvements?
A: Not at this time, however RebuildUS is developing such a program right now.
Q: Can I make improvements to the home?
A: As the home buyer, you have the rightto improve your property. Thus, you make any and all necessary repairs or desired improvements at your own cost.
Q: How long is the RebuildUS process before I can move in?
A: The sales process can take up to 10 business days, during which time you will receive your purchase documents. You will sign and return these documents to the RebuildUS Contract Administration Department. Once all purchase documents are received and approved by our Contract Administration Department you may take possession of the home and move in at your own pace.
ABOUT THE PAYMENT PROCESS
Q: Where would I be making my payments and to whom?
A: Payment instructions will be provided in your closing documents. We encourage you to review these documents with a real estate professional. We would be happy to answer any questions you might have.
Q: What if I can no longer make payments, or have to move out?
A: You need to alert RebuildUS 30 days before need to move out. We can help with this process, but you have to let us help by contacting us first.
ABOUT REBUILDUS - THE COMPANY
Q: What exactly does RebuildUS do?
A: RebuildUS is a real estate company. We acquire homes from banks and sell them to homebuyers like you. Our mission is "To help hard-working American families buy homes they can afford."
Q: How long has your company been doing business?
A: RebuildUS was founded in 2008 in response to the financial crisis. Our principals, however, have a combined professional real estate experience of of over 50 years.
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6320 Canoga Ave., 12th Floor
Woodland Hills, CA 91367