Selling FAQ

   Seller Financing FAQ

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Lease to Own FAQ

Selling FAQ

How fast can you buy my house?

In some cases as quickly as 1 week.

What if I’m going into foreclosure?

If you are behind on payments and fear you may have to go into foreclosure, call us ASAP! We can identify your needs and make you an offer to buy your home and make up your payments within 2 business days, stopping foreclosure. Time is of the essence…the sooner you contact us, the more likely we will be able to help you.

What if my house needs repairs?

We buy houses in any condition, as is…so don’t worry about repairs, you can just move on!

When will the possession date be?

Anytime you choose, we are very flexible and will work as hard as we can to make the process as smooth as possible for you.

Seller Financing

Can I get another mortgage if I seller finance my house to you?

That depends, although we can prove that your payments coming in equal or exceed your payments going out (for the mortgage on the seller financed house), banks will still consider the fact that you have this mortgage in your name.

We work closely with you and our mortgage broker to determine whether you will be able to qualify for another mortgage if you need one.

Mortgage and title are still in my name, who owns the house?

The house is sold to us by way of Agreement for Sale.  This is a legal document which states that the house is sold to us, as well as the terms of the sale, which includes the financing provided to us by the seller.  The title is not transferred to us (the buyer) until you (the seller) are paid in full for the purchase price of the house, providing you security and assurance of payment.

Who looks after paying the mortgage, insurance, repairs, taxes, and utilities?

All of these expenses are ours, since we have purchased the home from you there is nothing left for you to worry about.

What happens if you don’t make the monthly payments to me?

Integrity and trustworthiness are core values at MaliRoo Properties Inc. We make every effort to follow through on what we say we’re going to do.  We don’t take high risks or speculate, and the decision to purchase your home is a commitment to you we plan to fulfill.  If some unforeseen or horrific circumstance occurs and we cannot make the payments to you, then the house defers back to you.  If a person does not make their mortgage payments to the bank, the bank can take back the house.  Since you are the bank for us, if we do not pay you then you can take back the house as well.

How long of a term is the financing?

The term length is negotiable.

Lease to Own

Who looks after insurance, repairs, maintenance, taxes, and utilities?

As the seller (owner), you are responsible for home insurance, major repairs and maintenance, and taxes. As the tenant buyer, we are responsible for the utilities and our own tenant insurance (for personal property only). Minor repairs and maintenance up to $500 will be taken care of by us.

How long is the term?

Typically 1-3 years, but could be shorter or longer.

Will you be living in my house?

We specialize in finding good quality tenant buyers with a homeowner mindset to occupy your home.

How do you qualify the tenant buyers you find who will be living in my house?

We carefully screen them with the help of our mortgage broker to determine they will be able to afford the home, as well as the monthly payments. Our tenant buyers are often hard working people that want to own a home but are presently not able to qualify for a mortgage.

What do I have to do?

We have all the paperwork and take care of everything, including managing the property.

Who pays me?

MaliRoo Properties Inc. pays you every month. We collect from our tenant buyer and pay you so you have nothing to worry about!

Once I have agreed in writing to sell my property for a fixed price in a Lease to Own, can I change my mind and pull out of the sale?

Once you have entered into a Lease to Own agreement with us, you are under a legal obligation to proceed with the sale.

We as the buyer, however, are under no obligation to proceed with the purchase, we have the right to purchase if we so choose. In the unlikely event that our Tenant/buyer changes their mind and decides not to follow through with the purchase, you will still benefit. We will either proceed with the purchase ourselves or find another Tenant/buyer. If we choose not to buy the house control will be returned to you, and you will be free to sell it for a higher price, along with the knowledge that your mortgage has been paid and your property well looked after during the Lease to Own period.

You will also be able to keep the profits from any increase in value or equity due to any improvements made, or a rise in the housing market.

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