How Our Home Sale-Leaseback Program Works.

To understand how Stay Frank.’s program works, let’s break down the phrase into its two core parts: “home sale” and “leaseback.”

1. The first part, “home sale,” is a direct translation: it implies you are selling your house. In a sale-leaseback real estate arrangement, we connect you with trusted investors who offer you a fair market value to buy your house.
   
   
2. The second part of the phrase— “leaseback”— is a key addition: you as the homeowner sell your house to our trusted investor; however, you get to lease it back. This means we allow you to still live in it as a temporary tenant. You simply become a renter by signing a lease and paying a monthly fee to stay in the home for a predetermined amount of time. That’s why a home sale-leaseback is also often synonymously referred to as a “sale-and-leaseback,” because you are selling your home while continuing to live in it as a leasing tenant for a bit longer.

To learn more about the benefits of our program, explore our Why a Home Sale-Leaseback? resource. 

Yes! Our program is not credit-based. Check out our Do I Qualify? page for a full list of qualifications. 

We will ask you a series of simple questions about you and your home to qualify you for our home sale-leaseback program, including:

• Your employment status 
• How many bedrooms and bathrooms your house has  
• How much cash you are looking to get from the final sale 

Check out our Do I Qualify? page for a full list of qualifications. 

We’re going to give it to you Frank.: Ultimately, yes, you have to move out. However, the benefit of leasing your home as a tenant is prolonging the “when.” Most Stay Frank. customers stay anywhere from a few months to up to 5 years. The average customer signs a 2-year lease.

You can expect to receive an offer comparable to selling your home with a realtor. Our trusted investors offer fair market value for your home based on its current condition, neighborhood, square footage, and amenities. 

Your final cashout amount will vary based on the value of your house, what you still owe on the mortgage, and if you have any outstanding dues related to your home (i.e. solar or HOA fees).

Your rent cost is based on market averages for the value of the house and area. Remember that the big benefit of selling your home and becoming a renter is saving money by leasing. That’s why we work with you to keep your monthly rental cost lower than your previous mortgage payment! You have three options:

1. Pre-Pay Your Rent in Full. Eliminate a monthly rent cost altogether by taking proceeds out of the initial sale of your home and paying your rent cost upfront in full for the entire term of your lease. Any remaining money from selling your home is yours to keep.
   
   
2. Partial Pre-Pay. Pre-pay a portion of your rental cost to decrease your monthly out-of-pocket payments. For example, if market rent is $2,000, you could pre-pay a lump sum from your settlement cost to lower your monthly payment to $1,000. With this option, you can enjoy a lower monthly rent cost while still having the cash flow to pay off some debt and save.
   
   
3. Full Rent Cost. If you need cash now and would like to keep the full payout for your home, you can choose to simply pay your monthly rental fee as you go. This grants you full access to your money to budget it throughout the terms of your lease. 

• Inspection fee - We will handle the cost of the inspection fee for you so you have one less cost on your plate.

• Closing costs - After your house closes, you are responsible for its closing costs. The good news is that these costs are much lower than a traditional closing fee where a realtor would take a portion for their services. For example, most realtors take 6% of the sales cost in their commissions. Our Cash & Stay program eliminates commission fees, as well as many of the other costs and fees associated with selling and moving.

• Homeowner’s insurance - Since our capital investors will become the new owners of your house, they will pay for the homeowner’s insurance. As a tenant, you are responsible for a cost-friendly renter’s insurance policy to protect your personal belongings. For perspective, the average annual renter’s insurance cost is only $180 per year, compared to homeowner’s insurance at $1,899 per year.

Property taxes  - The taxes you accumulated throughout the calendar year up until your closing date are your responsibility, however, you do not have to worry about future taxes.

We serve homeowners located across the United States. To see if your city applies, fill out the form below.