Resident Home Purchase Program

The Resident Home Purchase Program gives eligible residents the opportunity to purchase the home they’re currently renting—before it is listed for sale publicly.

If the home you’re living in qualifies and Tricon decides to move forward with a sale , we will contact you directly with next steps and details on how to participate.

The process follows a typical homebuying journey. This includes signing a purchase agreement, completing an inspection and appraisal, and finalizing closing details.

If you choose to move forward, we’re here to help guide you through each step along the way.

If you’re ready to explore purchasing your home, here’s how to get started:

1. Decide if homeownership is the right next step for you
2. Choose whether to work with a Tricon-recommended real estate agent, or your own licensed agent
3. Select a mortgage lender and obtain a prequalification letter
4. Review and sign the Purchase Contract
5. Submit a $1,000 Earnest Money Deposit within 10 days of signing (this will be credited to you at closing)

From there, the purchase process will move forward, which typically takes 30–60 days or more.

Once the purchase contract is signed, it will typically take 30–60 days or more to complete the purchase. This includes inspections, appraisals, and finalizing your mortgage loan.

During this time:

• You will continue living in your home under your current lease
• Rent remains due as usual

After closing, Tricon will return any applicable amounts after our team has completed the standard reconciliation process:

• Your final month’s rent will be prorated based on your closing date
• Your security deposit and any lease-related fees, charges, or outstanding balances previously paid will be credited or returned after the closing date

No. Your current lease remains unchanged while the purchase is being finalized. Keep paying your rent on time during this period.

Any overpayments will be returned to you either as a credit to your purchase of the home or as a separate payment after closing.

No. You can start the purchase process as soon as Tricon contacts you.

If you decide to buy your home through this program, you’ll enjoy:

• A home inspection covered by Tricon (up to $500)
• A one-year home warranty provided by Tricon (up to $500)
• Confirmation that the sale price matches the home’s appraised value

You may choose to work with a Tricon-recommended real estate agent or your own licensed agent.

Because you already live in the home and are not touring or submitting multiple offers, the transaction is more streamlined than a traditional home search. Tricon will coordinate with a seller’s agent to manage the process and paperwork.

The purchase price will reflect market value and is not discounted.

However, an appraisal contingency is included to help ensure the home is priced fairly. Homes are sold in as-is condition, and no additional improvements will be made prior to sale.

This is the legal document that spells out all the details of your home purchase. We will prepare and provide this contract for your review and signature.

This is a letter from your mortgage lender showing how much you’re pre-approved to borrow. Although you will still need to satisfy the mortgage lender’s requirements to be fully approved for the mortgage loan, the pre-qualification letter will give a general estimate of the budget for your home purchase.

A $1,000 deposit you pay after signing the Purchase Contract which is credited to you at closing.

The process usually takes 30–60 calendar days or longer, depending on a variety of factors.

Keep paying rent as usual while we finalize everything. If you pay rent beyond your closing date and an outstanding balance is due to you under your Lease, we’ll either credit the amount due to you against the purchase price of your home at closing, or we’ll send you payment separately.

Your security deposit will either be credited to the purchase price of your home or will be returned to you separately.

You have 10 days after signing your Purchase Contract to submit this deposit.

You’re under no obligation to buy your home. If you decide not to move forward, you can:

• Remain in your home under the terms of your current lease,
• Transfer to another Tricon lease at any time if you do not plan to purchase the home, or
• Opt to move out of your home (with at least 60 days’ advance written notice).

Just let us know what works best for you.

If you need to cancel the purchase after signing the Purchase Contract, we can help. You’ll just need to complete the cancellation form we provided to officially withdraw from the Purchase Contract. From there you can:

• Remain in your home under the terms of your current lease,
• Transfer to another Tricon lease at any time if you do not plan to purchase the home, or
• Opt to move out of your home (with at least 60 days’ advanced written notice).

Have questions about the Resident Home Purchase program? We’re available to help:

• Call: 866-602-3796
• Email: residentpurchase@triconhomes.com