Property Acceptance Requirements
Please review this page carefully. Use the list below to quickly find out if your property is a fit for our walkaway program. As a guideline, we look to acquire properties in good condition, in good neighborhoods, which have good market rental rates. We tend to avoid properties that do not fit this general criteria, as they are difficult to lease and/or sell in the future.
Does your property qualify?? Lets first review excluded property types, conditions and areas of the country. We are not currently accepting properties from the following states UNLESS the property rents for at least $800 per month, and in pristine condition with absolutly NO deferred maintenance.
Alabama, Arkansas, Connecticut, Iowa, Kentucky, Louisiana, Michigan, Missouri, Mississippi, North Carolina, Pennsylvania, South Carolina
As a rule for all states, these types of properties are not accepted:
NO mobile homes (manufacture home on a foundation is OK), raw land, commercial properties, florida condominiums, 55+ community properties, or 'seasonal rental' properties
We also do not accept properties with these conditions or circumstances:
No Fixer or 'handyman special' properties. No 'emergency foreclosure rescue' properties - any sale date must be AT LEAST 60 days out. No overly-agressive HOA's (HOA's that try to foreclose, or to take posession of properties, or take away gate keys, etc). No properties in extremely rural areas. No urban decay areas of the country. No owner occupied, unless seller is willing to relocate. No deadbeat tenants...or pending evictions. No outstanding water/sewer bills (seller must pay these to have the property accepted). No properties that have been named in a bankruptcy. No properties built prior to 1960 (unless renovated recently). No empty or non-operating pools.
Now that we've gotten all the exclusions out of the way, here's the good news:
YES properties where you are behind on payments. No need to make up back payments. NOTE - you do NOT have to be behind on payments for us to acquire your property. We can acquire when you just missed your first payment, or have decided to stop making payments, but are still current. In fact, the earlier the better!
YES properties with a foreclosure date 60+ days out or more. We will stop the current foreclosure sale date from happening.
YES existing tenants. We will assume management and honor the tenant's lease
YES vacant homes are OK
YES single family residences, condos (except florida), townhomes, vacation homes, multiplex (up to 4 units), manufactured homes on a foundation
YES properties with a minimum market rental rate of $800 or more
