Common Contracts
1 similar Lease-to-Own Agreement contracts
Real estate rent to own contract templateLease-to-Own Agreement • June 5th, 2023
A lease-to-own agreement is a binding legal document used for establishing a set of terms, rules, and conditions around the initial lease of a residential property, and the subsequent selling of said property (if the tenant chooses to purchase). The agreement is a popular option for tenants that are looking to purchase a home, but due to financial constraints cannot do so in the current moment. Common reasons for this include the tenant not being able to afford a down payment or not having a strong enough credit score to obtain a loan.How does a Lease to Own Work?For homeowners that are 1) in no rush to sell their home, and 2) are looking for a stable investment opportunity, putting their home on the market as a lease-to-own may be their best option. It’s worth noting that real estate agents may be hired for assistance with the creation of the contract, but other than that, agents are often not involved, as they would have no way of earning compensation other than by the selling of the
