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What is a lease option?

An agreement that gives a renter the choice to purchase a property during or at the end of the rental period, at a specified price. As long as the lease option period is in effect, the landlord/seller may not offer the property for sale to anyone else. When the term expires, the renter must either exercise or forfeit the purchase option.



Who chooses a lease option to buy a home?

Potential buyers included:

People who want to improve their credit report over the lease period

Renters who want to test a home, area or school district before committing to purchase and stay long-term

Renters who are trying to look toward home ownership instead of continuing to rent, but will require additional time before qualifying for financing

What are the benefits to lease options?

You can have the priority of purchasing your dream home before any other party while building or fixing credit and financial dilemmas that could potentially hold you back from purchasing it

You have no obligation of purchasing the home, so you can walk away from the house at the end of the lease term without feeling pressured to buy it

You can learn the responsibilities of taking care of a home

Your money won’t go to waste because a portion of your down payment will be credited to the purchase at the end of the period

The lease option agreement freezes the price of the property so it will not rise or fall during the lease period which could potentially help with equity gains

We would love to help you find the perfect lease option home!

Just tell us what you are looking for.