lease with option to buy: Lease with option to buy
- 05/13/08 03:09 PM
A lease with option to buy allows a renter to purchase a home after at least 12 months or more of timely payments made through a checking account to the seller. A buyer usually enters a lease with option to buy with a small down payment and a negotiated purchase price of the home upon the maturity of the lease contract. Sometimes the seller will also credit a monthly portion towards building equity within the home. The bank will treat this as a purchase with prior credits for down payment. It is a win win scenario.
Buyer Benefits: allows monthly buildup of equity allows the buyer time … (0 comments)
A lease with option to buy allows a renter to purchase a home after at least 12 months or more of timely payments made through a checking account to the seller. A buyer usually enters a lease with option to buy with a small down payment and a negotiated purchase price of the home upon the maturity of the lease contract. Sometimes the seller will also credit a monthly portion towards building equity within the home. The bank will treat this as a purchase with prior credits for down payment. It is a win win scenario.;)
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