A Lease Option Agreement is a legal contract prepared by the owner of real estate and the tenant that gives the latter party an opportunity to buy the property after the term of the lease is over. You can download a printable Lease Option Agreement template through the link below.
This document is for you if you cannot pay the whole price of the house or office space at once or you prefer to live or work there for some time before making a significant purchase. Moreover, the person or company may have credit problems which means they cannot qualify for a traditional mortgage or loan at the moment. A contract of this kind is also beneficial to the landlord - they can receive regular rent without losing income and then sell the place to their tenant interested in long-term occupancy.
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