A Lease Option is a valid purchasing technique. It is a lease for a fixed period of time with an option to purchase the property on a future date. The price of the property is usually agreed upon at the inception of the agreement. With a residential Lease Option to Purchase, the tenant has the right, but not the obligation, to purchase the property.
The Residential Lease Option to Purchase Form has provisions for extensive financial terms, This Document is a well-written form that can do much to create a smooth transaction and protect all parties.
This Document is made up basically of two parts. The Lease
Portion and the Option Portion. Many items have to addressed,
such as disposition of deposits if the option is executed, and
disposition of deposits if the Option is NOT executed.
The "What Happens IF" or "What Happens IF NOT" is the theme of the entire lease option form.
In addition to the official Lease Option Form as described above, we have included two Sample Letters The first one is a letter of intent to notify the owner in the event a decision is made to Exercise the Option to purchase. The second letter may be used in the event you decide to Assign the Option to Purchase the property to someone else.
Can you read an existing agreement or contract and tell the difference between what is legal and what is not ?
If you don't understand all that legal language, you're not the only one.
Whether you are the buyer or seller, lessee or lessor, the language of any Lease Option can be confusing. Unfortunately, most of us cannot afford to hire an attorney to help us. Unless you know and understand contract law, it is very hard to write or sign any kind of agreement and be sure you won't be in trouble later.
We are here to help! You don't have to know all the rules, because our easy-to-use Lease Option form contains all the legal language you need. All you have to do is fill in your information.
Don't be mislead by all the free and cheap real estate forms available on the Internet. Most are not worth your time or effort and will ultimately get you in trouble. Our Official Lease Option forms contain all the legal language and protection you need.
That old saying about "how you get what you pay for" has never been more valid.
The entire process to obtain a valid Lease Option form is quick, easy, very affordable and most of all USER FRIENDLY. Keep reading and we will explain how everything works. Your residential Lease Option form is only a click away.