leasepurchase: Lease-Purchase vs. Lease-Option - what's the difference? - 06/27/07 06:49 AM
We have been asked a lot recently what the difference is between a "lease-purchase" and a "lease-option", or "lease with option to purchase".  Here's an explanation of the two:
LEASE-PURCHASE:
Lease-purchase has 2 simultaneous contracts completed - a lease agreement, as well as a purchase agreement, that are tied together.  The tenant/buyer agrees to lease said property for a set amount of time, and purchase it on a specific date (or sooner).  Escrow is opened; should the tenant/buyer default on the lease, they also default on the purchase aspect, and the landlord/seller may keep all deposits, escrows, and rent monies. 
Lease-purchases are … (3 comments)

leasepurchase: Why would I want to lease-purchase?! - 04/10/07 05:19 AM
WHY would I want to lease-purchase?!  
 A lease-purchase is a way for buyers who aren't quite ready to buy a home yet secure one, and save up for closing costs and/or a down payment.  This is a great option if you need time to repair credit, save up for closing costs, or try out an area BEFORE you buy!  
How does a lease-purchase work? Once you have identified your home, you would enter into a lease-purchase agreement with the seller.  It will detail your rent amount, how much of that rent will be applied towards your purchase, and how long … (2 comments)

 
Adam Tarr, PC -GRI, ABR, CDPE, RSPS, ePro - Designated Broker (MavRealty)

Adam Tarr

PC -GRI, ABR, CDPE, RSPS, ePro - Designated Broker

Phoenix, AZ

More about me…

MavRealty

Address: 17550 N Perimeter Drive, Ste 160, Scottsdale, AZ, 85255

Mobile: (480) 236-7374

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