Frequently Asked Questions (FAQ)
Why Choose Rainbow Realty and RainbowRealty.com?
The owners of Rainbow Realty Group and RainbowRealty.com have been buying, selling, repairing and renting homes since 1974. We have worked hard to earn the respect and trust of several thousand satisfied customers.
We are licensed Real Estate Brokers who specialize in the home acquisition field. Our knowledge, experience, resources and expertise will make your home selling experience fast, easy and worry free!
It's no wonder why several families and several generations have sold their homes to Rainbow Realty Group.
Are Your Homes Difficult to Qualify For?
No! We find that most "good people" qualify for our homes. We even consider Bankruptcies if they are final. At Rainbow Realty Group and RainbowRealty.com we understand that people can get into financial trouble and often have "Bad Credit". All we are looking for is "Explainable Credit". Our application process is based on the following factors:
In approving our applicants the most consideration is placed on:
We may also consider and ask the applicant for further explanation of any negative:
- Amount of Income
- Monthly Expenses
- Time on the Job
Rainbow Realty Group and RainbowRealty.com is committed to improving the quality of living in our neighborhoods. We run extensive criminal arrest checks on all applicants. Our goal is to prevent felony criminals, drug dealers and thieves from moving into our homes and harming our neighborhoods.
- Landlord History
- Eviction History
- Credit Report
- Credit Score
- Criminal Report
When we consider applications, we look very close at the amount of monthly income and time you have worked at your job. However, a good landlord history and or good credit report can help with approving a new person transferring to the area or someone just starting a new job. We also examine monthly expenses to make sure the applicant has enough income left over to feed & cloth his family and pay utilities
Rainbow Realty Group considers all applications for all properties without regard to race, color, religion, creed, gender, national origin, age, disability, sexual orientation, marital status, family status or any other legally protected status.
"RAINBOW REALTY GROUP IS AN
EQUAL HOUSING OPPORTUNITY PROVIDER"
How Do I See The Inside of the Property?
To see the inside of any Rent-To-Buy or Rental property is simple. Anyone can take out up to three (3) keys overnight.
- Visit our office
- Show your picture I.D.
- Leave something of value (a piece of I.D. or $20.00)
When you return the keys we will gladly return your I.D. or $20.00. If you need the keys longer than overnight, just ask our representative to extend the return date on you key form.
Can Rainbow Realty Hold the Property with My Application?
Yes, it is possible to hold the property. Remember that good properties go fast. Many times several prospects have keys to the same property at the same time. It is for this reason we recommend you leave a "Hold Deposit" with your application.
How much do I leave to hold the property? Well; some buyers pay the down payment/deposit, others pay the full amount needed to get the property.
Don't worry, if your application is not approved your Hold Deposit will be returned to you in full. By the way; any money you put down to hold the property will reduce the money needed when you sign your paper work.
WARNING! Just make sure you want the property, if for any reason you fail to take the property on the date requested on your application you could lose your Hold Deposit.
Is There An Application Fee?
Yes, As part of our commitment to better neighborhoods, we thoroughly check out each applicant. We pay a private reporting agency for this service. In order to cover our expenses there is a $25.00 non-refundable fee per applicant.
Do You Allow Pets?
Yes, We do allow pets. The costs to have a dog or cat at your property are as follows:
There is a one time $100.00 non-refundable pet fee plus $20.00 per month per pet. The monthly fee shall continue until property is paid off or the pet is gone from the property.
What Does Your Home Buying Service Include?
Rainbow Realty Group and RainbowRealty.com offers an easy to use home buying service.
With our home buying service, we do everything.
You just show us your property and pick up your pay check.
Rainbow Realty Group will:
- Write All Agreements
- Research Taxes
- Setup Inspections
- Order Lender Payoffs
- Perform Appraisals
- Work with Insurance Co.
- Order Title Insurance
- Prepare Closing Documents
(WE DO IT ALL! Our service is FAST, it's EASY and best of all it's FREE)