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Step 1 - Enter Search Details
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Price:
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Bedrooms:
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Bathrooms:
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Types:
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Please pick at least one Type.
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*
Minimum of 1 Type is required
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Locations:
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To narrow search results, click the "Specify Locations" radio button above.
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Please pick at least one Location.
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Lease-purchase vs. lease-option
Rent-to-own transactions are separated into two very distinct categories: lease-purchase agreements and lease-option agreements. Lease-purchase agreement.
In a lease-purchase agreement, the buyer and seller agree on a purchase price. This is typically at market value, if not slightly above. The option money may be a substantial amount, and is nonrefundable. During the lease period, the occupant is often responsible for maintaining the property. At the end of the lease period, the buyer secures bank financing in order to pay the seller the full purchase price. Again, in lease-purchase agreements the buyer is obligated to purchase the home.
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