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General

What does the Lease Purchase process look like from start to finish?

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Applications

How does someone apply for the Lease Purchase Program?

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Property Submission & Inspection

What are your basic property qualifications for the Program?

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Right to Purchase

How many years do residents have to purchase the home they are renting from you?

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Move-In & Pathlight

When does Pathlight become the main point of contact for incoming residents?

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Property Criteria/Search

Property Criteria/Search

  • What are your basic property qualifications for the Program?

    For a full list of property criteria, click here.

    • Located in an approved community
    • Single-family homes and fee-simple townhomes
    • Traditional sale or FSBO homes
    • Listed for no more than a metro’s maximum purchase price
    • Two or more above grade bedrooms on a lot of two acres or less

  • How do I find a home?

    Approved applicants work with a real estate agent of their choosing to search for a home listed for sale that they love. Homes listed on our website meet our basic requirements.

    We recommend using the search tab above or clicking here. Our website automatically filters through listings and removes those that do not meet our basic property criteria.

    To learn more, click here.

  • Do you consider new construction homes?

    We purchase new construction homes if they are 100% complete prior to submission and have central AC. In addition, new subdivisions and new phases of subdivisions must be at least 50% complete.

  • What are your occupancy guidelines?

    The occupancy standard per home is two (2) persons per bedroom, plus one (1) – subject to local laws.

  • Is it required to tour a home before submitting it to you?

    For residents to accurately examine the property prior to submission, we require all prospective residents 18 years or older to tour the property in person with their agent before submission.

    Virtual showings or having someone view the property in their place are not acceptable alternatives to seeing the home in person. Viewing the home after property submission or once under contract are also not acceptable alternatives

  • Will you accept a home located in a homeowner's association (HOA)?

    Yes, we purchase homes located in HOAs as long as they meet our requirements and we receive proper documentation during the home submission process. Note that after move-in, residents will need to be in compliance with all HOA rules, including possible dog breed restrictions.


  • Property Submissions

    Property Submission

  • After the agent submits a property for review, how long will it take to receive a decision?

    With proper documentation provided, underwriting typically takes 4-6 business hours, 7 days a week.

  • If the seller accepts your offer, what are the next steps for the applicant?

    Once the seller accepts, the home will go under contract. The security deposit and signed lease and Right to Purchase agreement are due within 2 business days.

    After we have received everything, we order and pay for the inspection. The agent is responsible for facilitating the inspection and making sure all utilities are on. Allow a 10-15 day inspection period.

  • What is the Resident Request Form?

    The agent sends the Resident Request Form to households during the property submission process. Here, they may request certain paint, carpet, and appliances. Note that requested renovations need to be approved by us before an offer is made to the seller.


  • Inspections

    Inspections

  • May households attend the home inspection and view the results?

    Agents facilitate the home inspection process. Households are not be able to attend the inspection, nor are we able to share a copy of the inspection report, unless they exercise their Right to Purchase in the future. Although we strive for complete transparency with applicants, as the buyer paying and ordering the inspection, we cannot share results.

  • Can households negotiate items to purchase from a seller?

    Yes, prospective residents may negotiate with the seller outside of the Lease Agreement. However, the seller will need to remove these items from the home before the closing, and then the items may be brought back to the home on the move-in date.

  • What if the home submitted by the agent does not pass inspection?

    If the home does not pass inspection, applicants should work with their agent to find another property meeting Program criteria and submit it to us for approval.

    We can retain the deposit to put towards another home or they may contact us for a refund.


  • Resident Requests/Make-Ready

    Resident Requests/Make-Ready

  • What approved Resident Requests will Poppa Homes OwnerShip Program complete during the Make-Ready period?

    Approved requests are identified in the Lease Agreement as “Resident Property Requests.” We reserve the right to deny any request and do not replace appliances that are in working condition. Approved resident request costs will be added to the Right to Purchase price.

     

  • What is Make-Ready?

    The Make-Ready Cost is a budget for anticipated health and safety repair items that may be uncovered during the inspection or Resident Request Form alterations. If any portion of the budget goes unused, it will be reduced off your right to purchase.

  • What repairs will you request the seller completes prior to resident move-in?

    We request that safety concerns and material defects are corrected by qualified contractors prior to close. Alternatively, we may request a credit or price reduction and perform the repairs ourselves.