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SOURCE: Advanced Realty Team, Inc.
Florida real estate brokerage firm now rents homes in foreclosure at bargain rates with full disclosure to tenants of the legal action. Program offers affordable housing and now will let tenants move up to a home in the Famous Rent to Own on Steroids Program at no fee.
Dunedin, FL (PRWEB) February 09, 2013
Advanced Realty Team, Inc. yesterday announced it eliminated the fee completely in its “Thousand Dollar Move up Program” for people living in rental homes in the Famous Foreclosure Rentals Program.
There is still a fee of $1,000 for people living in Famous Rent to Own on Steroids™ homes who wish to move to another home in the program.
Previously, Advanced had announced completion of the beta testing program of renting homes in foreclosure, disclosing to tenants up front of the status of the legal action with the bank. Initially, Advanced managed and did joint ventures with investors who own rentals in foreclosure. Recently, they began buying houses in foreclosure for proprietary accounts.
“We wanted to offer more to folks who trust us enough to move into a home that they know or suspect will be in foreclosure soon,” said George Beardsley, President-Broker of Advanced, “Even with the wave of foreclosures, most folks do not know how it works and are surprised that it can be years before the law suit is settled. And today there are programs in place to make it easier than it was to work out a mortgage modification.”
“Famous Foreclosure Rentals is for someone who wants to take advantage of the low rental fee for a home that is in foreclosure to have the opportunity to move up to another one of our homes of their choosing,” he said.
Although Advanced has only recently advertised that residents could move from one of the homes it owns or manages to a bigger or more convenient home, it has offered the opportunity for years to residents in good standing.
“The plan is simple,” Beardsley said, “folks tells us they need more room or would rather be in another town or part of the town and we let them know first when there is a vacancy or new home available. Existing clients get first choice, then the home goes to the VIP Alert List and on the following day we begin general advertising.”
“We had never advertised the program because we never knew if we would have an appropriate home at the right time,” Beardsley said. “We are pretty clear that if we do not have an appropriate home, this will not work and we found that as long as folks knew we could not guarantee what we would have in the future; it worked pretty well.”
Advanced is a small Dunedin, FL-based boutique real estate brokerage firm specializing in buying houses fast; and in the current market, Advanced even has programs for buying homes that are over financed, under water and even in some cases they will buy houses in foreclosure and over financed.
These homes usually become part of the Famous Foreclosure Rental Program where the resident is offered a below market rent and is told the home is in or may soon be in foreclosure and that Advanced or the client it represents will use the services of a board-certified real estate attorney to defend a foreclosure action should there be one.
“Under water” and “upside down” are terms used to describe a home where the mortgage is larger than the current value of the home. They have been buying homes for two decades and initially bought to renovate and resell.
The housing market collapse changed their operations to buying house for the purpose of renting, including the Famous Rent to Own on Steroids and now the Foreclosure Rentals where they rent homes that are in foreclosure, fully disclosing the status of the home and the owner–landlord is represented by an attorney in dealing with the bank.
“We buy houses, estate homes, for sale by owners, rentals fast and turn them into affordable housing,” Beardsley said. “We buy any price range and almost any condition,” he said.
Some Homeowners want to sell a property fast; some have been transferred or in the process of divorce. Some want to avoid paying a real estate commission by selling to firms like Advanced.
In addition out of state property owners can sell former winter homes or estate homes fast and totally by mail.
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