SAVE with MWS Properties
Let us help you SAVE (Start Accruing Valuable Equity) for your new home! SAVE is brought to you in
Chico exclusively by MWS Properties and Bill Webb
Construction Inc. (BW Homes) as a NEW home homebuyer incentive program. MWS Properties has teamed up with BW Homes
to offer our residents an opportunity of home ownership for a brand new, detached single-family, BW Home.
SAVE is an alternative to a Lease Option or Rent to Own credit structure. A percentage of the rent t
hat you are already paying (up to $3000 per year, max of $10,000 for the duration of the residency) will be placed in
your SAVE account at NO additional cost in the form of a reserve credit! This accumulated credit can only be used
toward the purchase of a brand new home, custom built by BW Homes.
The SAVE program requires that you reside in a MWS Property
for at least 12 months and that you enroll in the program within thirty days of your move-in. Your accrued credit can
only be used towards the purchase of a NEW BW Home; it is not transferable or assignable. While the SAVE credit does
not accrue interest and has no cash value, it affords you an opportunity to purchase your own home.
Like traditional Lease-Options, if you choose not to exercise the opportunity to purchase a BW Home, any accrued credit
will be forfeited at move-out. You can retain your credit at move-out only if you are continuing your residency by
directly moving to a different MWS Property.
Please note: The SAVE program does not guarantee that you will qualify for the purchase of a new BW
HOME. This is solely up to your personal credit worthiness and the ability to secure appropriate financing.
MWS Properties and BW Homes will not provide financing;
financing must be obtained from third party. If you fail to qualify for purchase at the time of vacating your apartment
home the accumulated SAVE credit will be forfeited.
The purchase price and financing of a new home will be set according to current market conditions and prevailing
interest rates at the time of purchase, not at the time of entering this contract.