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Who pays the taxes and insurance on the property? |
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The Rent to Own (“RTO”) buyer has the contractual obligation to pay for taxes and insurance. In addition to the monthly base rental amount, a monthly proration for taxes is also collected. |
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Is the investor (owner) responsible for making repairs to the property? |
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No. The RTO buyer has a contractural obligation to make all repairs. |
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What happens if my property is uninhabitable once an inspection takes place? |
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Per the purchase agreement with Pinnacle Property Solutions, Pinnacle will replace your property with a new property. |
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Who determines what sales price my property is sold for? |
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Per your purchase agreement with Pinnacle Property Solutions, Pinnacle’s sale team will determine what monthly payment amount the potential RTO buyer can comfortably afford on a long term and consistent basis. However, in no event will the monthly payment amount fall below $250 per month without prior written approval from the investor owner. |
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Must I purchase insurance for the property prior to obtaining an RTO buyer? |
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It is not required since the property is in a Land Trust and personal liability is limited. However, it is your individual decision whether or not to do so. Remember, the home has no contents, you are acquiring the property for a very favorable price (currently $21,900) and the underlying land has retained value. It is a cost versus risk analysis on your part as the owner. |
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How long does it typically take to secure an RTO buyer for my property? |
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This is not a “get rich quick” investment. Currently, we are securing an RTO buyer within 120 days for 67% of the properties. |
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Can I market and advertise my property in addition to Pinnacle’s marketing efforts. |
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Absolutely yes. It’s your property and you may advertise in. |
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Can I purchase additional property from Pinnacle Property Solutions on a priority basis? |
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If I have friends and family that are interested in purchasing REO properties from Pinnacle, will Pinnacle conduct a private seminar for us? |
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What happens if the RTO buyer stops paying the monthly rent amount? |
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Do I have to pay Pinnacle Property Solutions a commission when the mortgage closes for the RTO buyer? |
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