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What's the deal?īut Divvy co-founder and Chief Executive Adena Hefets said her own family's situation helped inspire her business plan.
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Through the years, the rent-to-own industry has been littered by sordid stories of renters who fell prey to what turned out to be a scam.Ĭonsumer advocates, including the Federal Trade Commission, say that even when dealing with legitimate companies, "the devil is in the details." The FTC says taking time to save money or to repair credit before purchasing a house is always an option. The work was paid from a portion of the Brocks' monthly payments not reserved for a down payment. Each month, Divvy sources, qualifies, and delivers dozens of cash-buying pre-approved customers. Here’s how Divvy in the press Divvy is proud to be included on Time’s list of the 100 Most Influential Companies of 2022. Our mission We’re making homeownership accessible to everyone. We’re hiring a select group of licensed agents in Florida to become the founding members of our new Orlando-based brokerage. Divvy gives you the power to start your homeownership journey nowand build wealth for yourself and your familywithout perfect credit or piles of cash up front. That will come off the top of Brock's $127,500 purchase price, a figure arranged at the beginning of the deal.ĭuring the two years Brock and his wife have lived there, Divvy has paid for a new boiler and a plumbing job. You bring the local expertise, we qualify and deliver the pre-approvals. When he finances the house in February, he said he'll have a down payment of more than $12,000.His monthly payment to Divvy for three years averages about $1,285, but he plans to buy the house eight months early because he put an extra $6,800 into the down payment pot.If any one part goes wrong, it could lead to losing the deal. The process of purchasing real estate requires an unbelievable amount of moving parts. Brock said Divvy offered less and wound up purchasing it for $118,500. Divvy has worked with an extensive roster of amazing agents and have been able to distill the top 6 qualities to look for in the perfect real estate agent. Divvy agreed to buy the three-bedroom bungalow, which had a listed asking price of $134,000.