home purchase: What does Lease Option Mean?
- 05/05/16 11:52 AM
One alternative way to purchase a home is via lease option. Sometimes referred as lease with option to purchase (lease option). Basically, the seller agrees to lease and sell a property to an end buyer based on purchase date and sales price agreement in the future.
There are two agreements in a lease option. First, a lease agreement (rental agreement) stating customary terms, monthly rent, and ending period. Second, includes a residential purchase agreement stating the agreed purchase price and option purchase date. Per agreed time period on the lease agreement, the buyer has the option to either terminate the rental … (2 comments)
One alternative way to purchase a home is via lease option. Sometimes referred as lease with option to purchase (lease option). Basically, the seller agrees to lease and sell a property to an end buyer based on purchase date and sales price agreement in the future.
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