Peabody Residential is offering this program to new and existing tenants. Each month you can earn a credit of one tenth (1/10) of the monthly lease payment, which is credited towards the down payment and/or closing costs when you purchase a home using one of the Peabody Residential’s Realtors© as your Buyer Agent. You can earn a maximum of 12 months of credit. In order for the home purchase to qualify, the transaction must contain a sales commission of no less than 3% of the total purchase price and be paid to Peabody Residential by the Seller or Builder of the home. A Buyer Representative Agreement must be executed between the Tenants/Purchasers and Peabody Residential at the time of completion of any earnest money purchase contract.
Credits expire 12 months from when they are earned and will be credited only if the monthly lease payments are timely. This credit may be applied to any real estate transaction on the purchase of a home within Northern Virginia and Washington, DC. It will be applied at the time of closing. This agreement has no other cash value, is non-transferable and cannot be applied to any other type of real estate transaction. If the lease on said property is breeched all credits will be returned to Peabody Residential.
Note: You can accumulate a maximum of 12 months of purchase credits. There is no sign up fee for this program, however to redeem the credits, the tenants must notify Peabody Residential of their intention to use them at least 60 days prior to the expiration of the 12 month time period.
You must use a Peabody Residential Realtor© as your Buyer Agent to redeem your credit.
Please contact us with any questions!