How it works
A letter from Mr. Francis M. Frick Jr.
This program was developed by Mr. Frick and his partners to help individuals obtain affordable housing.
The program was designed to assist families who could not otherwise qualify thru conventional banking means. There is no qualifying and no credit checks.
We are not setup as a real estate office. A sales person will not drive you around and show you multiple house. We will give you the address of the houses and ask that you look at the area and the house.
After looking at the area and outside of the house we will be happy to set an appointment and show you the interior.
Most of our houses are new. On occasion we will have an older house. All our houses are in Marion county and are primarily in Ocala itself. Our basic house has 3 bedrooms, 2 baths with a single car garage.
Say the price of particular house is $149,900.00 The total down payment required to go to closing (mortgage) is $9,500.00 A lot of people do not have this much money!. Mr. Frick will allow you into move into the house with a "move-in" down payment of $4,500.00 and a lease-option agreement is executed. Each month you would pay $975.00 toward the rent and a credit of $100.00 will be given towards the option each month that the rent is paid in a timely fashion. When the total paid reaches $9,500.00 you then go to closing.
Once you have accumulated the total option payment, you will close on the house. The deed will be transferred into your name, recorded at the court house, and the partnership will act as the bank.
Closing are done by a local attorney for a flat rate.
Keep in mind that one of the major benefit of this program is when you move into the house the sale prices is locked in. This mean if the house goes up in value you don't have to worry about the sale prices going up.
Be sure to call the office if you have any questions.
(352) 694-5138 Office
(352) 266-8155 Sales
Be careful of other lease options where you loose all of your money if you don't close within a year. .!!
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