How the Hellickson Family Saved Their Purchase with Rent-to-Own

They Did Everything Right Until the Closing Statement Arrived

David and Karen Hellickson had spent months searching for a home in Ottawa. When they finally found the right place, they moved quickly. With the encouragement of their mortgage agent and a signed accepted offer in hand, the purchase felt certain. The excitement of owning their own home was real.

Then came the closing statement.

When the full picture of closing costs came into view; land transfer taxes, legal fees, title insurance, adjustments, and other disbursements, the Hellicksons realized they were short. Not by a small margin. By enough that completing the purchase on the agreed-upon closing date was simply not possible.

The problem was not that they could not afford the home. They could. The problem was timing. The savings needed to cover closing costs were not fully accumulated, and with a firm closing date on the horizon, the gap between where they were and where they needed to be had no obvious solution.

The Stakes Were High: Deposit at Risk, Legal Exposure Possible

Walking away was not a neutral option. The Hellicksons had put down a deposit when their offer was accepted and this was money they stood to lose entirely if they failed to close. Worse, a buyer who cannot close on a firm purchase agreement can face legal action from the seller for costs, damages, and any shortfall if the property sells for less in a subsequent transaction.

David and Karen needed a solution that would protect what they had already put in, preserve the purchase they had worked to secure, and give them the time to get their finances where they needed to be. They started searching on their own, because no one else stepped up to offer any help.

An Online Search, a Phone Call, and a Different Kind of Plan

A search online for options when you cannot close on a home purchase led the Hellicksons to Clover Properties and the rent-to-own program. What they found was not a bailout. It was a structured path forward.

Clover Properties stepped in to purchase the home directly through one of their amazing investors, the same home the Hellicksons had found, negotiated, and already committed to. By taking over the transaction, Clover resolved the immediate closing crisis, protected the original deposit, and removed the legal risk the family faced as a buyer unable to perform on a firm agreement. Fortunately, the seller was open to working with everyone and happy to allow the purchase agreement to be assigned to a new buyer.

Under the rent-to-own arrangement, the Hellicksons moved in as future homeowners. The terms were straightforward: a two-year program, a defined purchase price locked in at the outset, and a monthly payment structure that included a portion building toward their eventual purchase credits. Their job during that window was equally clear. Continue to strengthen their credit profile and accumulate the closing costs they needed.

Two Years of Purpose

The Hellicksons treated the program exactly as it was designed to be used. They lived in the home, made their monthly payments on time, earned monthly equity credits, and worked with their mortgage professional to monitor their credit scores and qualifying position.

They weren't happy with the original mortgage professional, so they requested a referral from Clover Properties. That's the power of working with a company like Clover, we have built up a network of licensed professionals across Ontario and Alberta who understand how the program works and are genuinely excited to work with someone taking these steps toward homeownership.

Budget coaching through the program helped them find a little extra each month to put toward closing costs, and helped them avoid the kinds of financial decisions that could have pushed their timeline back. The purchase price was already agreed upon. The mortgage qualification target was known from day one.

> There were no surprises, just progress.

At the End of the Term: Approved

When the two-year term concluded, the Hellicksons returned to their mortgage professional with stronger credit and a complete closing cost fund. They applied for their mortgage and were approved with Scotiabank.

They purchased the home they had originally set out to buy, the same property, on their own, with a conventional mortgage. The deposit they had put down at the time of the original accepted offer was not lost; it was credited toward the purchase at closing.

The legal risk they had feared never materialized. And the home they had spent months searching for is now theirs.

What Made the Difference

The Hellickson story illustrates something important about how rent-to-own actually works when it is used well. It is not a consolation prize for buyers who could not qualify. It is a bridge.

I use that word deliberately. The program is a structured interval between where a buyer is and where they need to be. For this family, the gap was not credit, it was closing costs and time. Rent-to-own gave them the time they needed to save up the closing costs, rather than them losing the home they wanted so badly.

What the program required in return was commitment, consistency, and a willingness to treat it as the preparation it was always meant to be.

They entered the program to save a purchase. They exited it as homeowners.

Think you might be in a similar situation? Visit our pre-qualification page to find out if rent-to-own could be the bridge you need.