What if the Renter Decides
to Purchase Instead of Lease
Initially, the Transferee intends to lease. Should the Transferee choose to purchase, instead of rent, you should contact PorchLight for guidance.
In some cases, the client will require the Transferee to purchase through their agent. In other cases, the Transferee will dictate who their agent is and you will retain the home purchase opportunity. In this case, be aware that by accepting this rental tour you are agreeing to a commission, equal to the going rate of the relocation company (between 35-41% depending on the relocation company). If you are not prepared to do this, you should decline showing any homes for sale if asked. Agent and Transferee should not enter into a buyers agreement until after the agent confirms protocol with PorchLight. Specific title agencies, lenders and title agencies may be required, and Transferee may lose relocation benefits if they do not follow the relocation guidelines.
Will the Renter Purchase at the End of the Lease?
We attempt to track this information. In an effort to help you prioritize your follow up, the needs assessment contains a question as to whether the renter intends to purchase at the end of the lease. However, you should NOT enter into a buyers agreement unless you agree to the following:
- Contact PorchLight to obtain any requirements on lenders, title, etc. Transferee may lose relocation benefits if they do not follow the relocation guidelines.
- Pay a commission, equal to the going rate of the relocation company (between 35-41% depending on the relocation company).
- Due to the consumer renting first, PorchLight views the referral period (where these terms are in effect) to be up to 2 years.
- The settlement statement or sales contract should accompany the check.