Keep reading to find out why our Lease Purchase program is so popular with people who need to sell their house now.

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Who is Heritage Partners, LLC?

We are a local Indianapolis based Real Estate Investment Company.  We began investing in the Carmel, Westfield, Fishers, Noblesville and Northern Indianapolis areas back in 2003.  We've bought and sold over 100 houses since then and we specialize in finding a solution to your unique problem including No Equity, Foreclosure or simply Can’t Find a Buyer.

Selling My House – What are My Options?

REALTOR: A good option if you have enough equity to pay Broker Commission and other likely Seller concessions.  In this market, you'll need to discount your house enough to get an offer.  Home Buyers who can get a loan want a good deal and there are plenty of houses to choose from.

For Sale By Owner:  Most people have a difficult time with For Sale By Owner because they can not get good Buyer visibility by simply sticking a sign in the front yard or placing an add in the newspaper.  In addition, many people are not familiar with the selling process including what documents to use and what is involved with getting a Buyer to the closing table.

Cash Investor:  Investors need to make a profit.  Currently, we only buy houses in Hamilton County and usually with a Fair Market Value less than $200,000.  If you don't have enough equity in your house, if your house is located outside of Hamilton County or if your price range does not meet our personal investment criteria, you need to read about the Lease Purchase alternative below.  Call 317-294-4425 for more information.  This option has been very popular with our clients.  Its an oportunity to sell your house and maximize your profit in today's market.

Subject To Investor:  This is where the Investor takes over your payments Subject to your existing mortgage.  An investor will typically give you a better offer because the investor does not have to obtain Bank financing which is more expensive and time consuming.  The Investor gets the benefit of ownership including tax deductions and you get debt relief.  Typically, the Investor will put a Lease To Own (Tenant/Buyer) in the property until they can get a loan.  This is a form of Seller financing since your name remains on the loan until the Tenant/Buyer can purchase the home.

Land Contract:  A form of Seller Financing.  The Buyer gets equitable interest in the house and the tax advantages.  You typically get a down payment greater than first month's rent but you must foreclose them out of the house if they stop paying you. The Foreclosure process can take up to 9 months or longer.

Rent and Wait to Sell Later:  We've worked with many Clients who have tried this route when they didn't have enough equity in their house to pay REALTOR Broker commission or they simply couldn't find a Buyer.  The biggest problem with this approach is that you are not selling your house.  Typical renters do not have pride of home ownership and you are faced with the prospect of a vacant house and repairs every 12 months.

Lease Purchase

Lease Purchase is a great alternative for people who have not been able to sell their house using traditional methods.  We are experts at structuring Lease Purchase Agreements and in fact, we sell most of our investment properties as Lease To Own (Lease Purchase).  Simply put, a Lease Purchase Agreement is where a person agrees to buy your house but they lease the house from you for a period of time until they can get a home loan.  Call us at 317-294-4425 for more information.  The benefits of a Lease Purchase Agreement are ...

Full Asking Price:  Unlike Buyers who have cash or a perfect credit score, people who can buy a house with financing already in place, such as a Lease Purchase, are willing to pay Fair Market Value for a home in exchange for giving them the extra time they need to get a home loan.

Down Payment:  Buyers, who we commonly refer to as (Tenant/Buyers)give you a down payment ... not a security deposit.  The way we structure our contracts is that the down payment is non-refundable if they decide not buy the house but the down payment is applied toward the purchase price when they buy the home.  We usually try to get around 3% of the purchase price.

Tax Benefits:  You keep the tax benefits until the Tenant/Buyer gets a home loan.

Repairs:  Our contracts state that the Tenant/Buyer is responsible for all typical home repairs and maintenance.  Again, they are buying the house.

Pride of Home Ownership:  Most of our Tenant/Buyers treat the house as if it were their own home ... not a rental.

Evict vs. Foreclose:  In the unlikely event that the Tenant/Buyers does not hold up their end of the contract, you can evict them in about 30 days vs. having to foreclose with a Land Contract.

Monthly Income:  Depending on what your monthly loan payment is, we have a number of Clients who actually make money each month because the monthly rent from the Tenant/Buyer is greater than the Clients loan payment.

Why is Lease Purchase Attractive to Buyers?

Banks have significantly increased the minimum credit score and down payment requirements to get a home loan which has made it difficult for a large percentage of the U.S. population get a home loan in today’s market.  The old saying goes, Bad Things happen to Good people.  We have a proprietary method of qualifying Tenant/Buyers and we look for the Good people who have had something Bad happen to them.  These people are just trying to get back on their feet and want to move their family into a nice home instead of an apartment.

What Can We Offer You?

Knowledge:  We have proven contracts and the experience necessary to structure a Lease Purchase Agreement.

Buyers:  We know how to find and qualify Buyers for your house.

Property Management: We’ve managed our own properties since 2003.  We have established systems and procedures and a licensed Real Estate Brokerage on our Team.

Options: We will not only seek out a Tenant/Buyer for Lease Purchase, but our Real Estate Brokerage will also keep your house on the market For Sale to keep your options open.

Contact Us

Call us today at 317-294-4425 for details on how we can help you.

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