A residential Lease Option to Purchase is a very important document. If it is your intention to fill in the blanks and prepare a completed form online you should consider doing a little research first. Below are some basic instructions to help prepare you for this task.
Collect the following information to help you complete your form
Look below over the provisions of the document and have the information at your fingertips. This way the form will only take a few minutes to complete. If you need to collect the information, bookmark this page so you can return where you left off.
This document is made up basically of two parts. the lease portion and the option portion. many items have to be addressed, such as disposition of deposits if the option is executed, and disposition of deposits if the option is not executed.
- Name of landlord
- Name of tenant(s)
- Property address
- Amount of rent $
- Date of inception
- What is the address where payment is to be made ?
- What is the term of the lease ?
- Select the amounts $ and the types of deposits
| security deposit | refundable (y/n) | ||
| pet deposit | refundable (y/n) | ||
| cleaning deposit | refundable (y/n) | ||
| redecorating deposit | refundable (y/n) | ||
| other deposit | refundable (y/n) | ||
- Select categories that are applicable and enter money due
| total of all deposits | program will calculate this | ||
| 1st month rent | |||
| pro-rated rent | |||
| last months rent | |||
| other | your choice | ||
- You design the form by choosing which of the following paragraphs are applicable.
- Total occupants
- Subletting ( yes / no )
- Utilities paid by landlord ?
- Parking space / area ( if applicable )
- Inspection of premises by owner
- Are alterations allowed
- Late charges / bad checks
- Noise and disruptive activities
- Landlords right of entry
- Repairs by landlord
- Pets ( yes / no )
- Furnishings included or not ( if applicable )
- Insurance requirements how much ?
- Termination provisions
- Possession ... when ?
- Abandonment .. under what circumstances
- Provision for waiver of conditions
- Who pays attorney fees ( in case of suit )
- Disposition of personal property left by tenant
- Purchase price of the property must be established
- What is included.. fixtures and personal property
- Disclaimer concerning financing
- Encumbrances on the property and how they are to be handled
- Rights of the tenant to examine title
- Escrow: how is it split? when does it close ?
- How the option must be exercised and when it terminates
- What happens to all the money involved ?
- Is the consideration paid for the option refundable?
There is a Provision for Adding Additional Terms or Conditions.... Think about any additional terms you want added.... or information to clear up anything not mentioned in the existing text.
Frequently Asked Questions
How do I get the completed Form ?
Pay for it online and then you will be able to access it immediately.
Will I be able to save the Form to my own computer ?
YES ..... It's best to save the Form as a "TEXT FILE" so you can use your own word processor program to edit it.
Do I have to know all the personal information
Now ?
( as shown at the top of this page
)
NO ..... You decide how much personal information to enter.
Will I be able to get the Form without my personal information ?
YES .....You will be able to place your personal information into the Form after it is saved to your own computer.
Will you .... Email - Snail Mail or Fax the Form to me ?
We wish to respect your privacy, therefore, one of the options of the process is to email the form to yourself.
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