eleven11 Condominium Homes

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Vegas Valley In Luck With Eleven11

You’re lucky to be in Las Vegas! You not only work in the greatest city in the world, you can now live in a luxury condominium you can afford!

Eleven11 is a boutique community at the height of easy living and smart design and is the only community in the city that offers the “Rent-to-Own” program.

Rent-to-Own

“These days with the lending institutions restricting loan programs by increasing minimum credit score requirements or minimum down payment amounts, it is getting harder for a homebuyer to reach their dream of home ownership,” said Zolt Szorenyi, President of Developers Marketing Solutions.

“But purchasing an Eleven11 home is easy. Our Rent-to-Own program allows someone to purchase a home with the same seller incentives offered to them as to anyone else, while saving up the down payment for the home over time. It provides a solution to bridge the gap between a homebuyer and the loan guidelines,” he said.

“Also, people pay pretty high rent these days and with Eleven11 your rent is not just money out the door, it puts money towards your down payment to own,” Szorenyi added. He said it also allows people to repair credit while they are saving up for a down payment.

This lender-approved Rent-to-Own program allows someone to enter into a rental agreement with an option to purchase within 12-36 months from start. “If the buyer exercises his option to purchase, the landlord is allowed to credit back parts of the collected rent to the buyer as part or the whole down payment used for the purchase without compromising the maximum allowed seller incentives given to the buyer,” Szorenyi said.

Program

The agreement is very simple.


  1. The buyer chooses the unit they wish to live in and buy.

  2. The buyer signs a 12 month lease agreement with the seller with an addendum for an option to buy.

  3. The buyer pays the monthly amount listed below:

    4. Bed Bath SQFT Lease
    Option
    1 1 618 $999
    2 2 968 $1,149
    2 2 980 $1,249

  4. Buyer moves in and begins making monthly payments, where the payments are close to the future mortgage payments they would be making after close of escrow.

  5. Buyer may exercise their option to purchase at any time during the 12 month lease.

  6. The following monthly portions will be credited back to the buyer that may be used for their down payment:

    7. SQFT Monthly
    Credit
    Amount    		 Total Credits
    3 Mo.    		 Total Credits
    6 Mo.    		 Total Credits
    9 Mo.    		 Total Credits
    12 Mo.
    618 $249 $747 $1,494 $2,241 $2,988
    968 $349 $1,047 $2,094 $3,141 $4,188
    980 $399 $1,197 $2,394 $3,591 $4,788

  7. Buyer exercise option to buy, applies monthly credits toward down payment and purchase a new home for themselves.

The Eleven11 sales office is open Monday through Saturday from 10am to 5pm, and closed on Sunday. For more details, visit www.my1111condo.com, or call (702) 405-1111.

Floorplans and renderings are artist conception only. We reserve the right to change or modify features, prices, specifications without notice or obligation.