How it works.
Together with your client, you can help them select a home that fits your client’s needs and place them in a finance program that meets DayMark’s home financing requirements.
We know they may need time to get their finances in order so this program may be perfect for you and them.
Our Lease Option program is designed to lock in the purchase and help them save for a down payment over time.
The process is simple.
- Find a home listed on the MLS that fits DayMark’s Lease Option Program guidelines along with your customer’s budget.
- You represent DayMark as the buyer’s broker and receive full commission.
- DayMark closes with a cash transaction within 30 days.
Your customer becomes DayMark’s tenant and is able to take occupancy of home the same day of their closing.
The terms are straight forward.
In general, our leases are structured as follows:
- Lease term: 12 months, with two 12-month extension options. The rent for all three years is specified up front.
- Option price: Tenant buyout price is specified up front (and we’ll walk you through how it’s calculated).
- Option Exercise: Tenant can exercise their option after the second full year of leasing.
- Upfront costs: A $999 option fee, and one month’s rent.
- Financing: If you have outside mortgage financing, you can buy at any time. If you use our RIC financing, we typically require two years of payments to as part of qualification. In either case, our team will make it easy on you.
You can sleep at night.
We want all our customers to act as homeowners, which includes routine items like maintaining the lawn, removing snow and debris, and dealing with minor issues.
Don’t worry, though – we cover the major systems, with any necessary electrical, plumbing, heating / cooling system, or structural repairs will be will be paid by DayMark. This is priced into your buyout – and if you don’t need the help, your purchase price can actually go down.