Kellermann-Strauss Forum » BENEFITS of doing Lea

What is an OPTION?


First Nike Air Max Vyprodej , let's clear up some "slang" terms often used with these that create confusion: Rent to Own, Lease Option, Lease with Option to Purchase all mean the same thing in general usage. A lease is simply a rental agreement that is established for a set period of time (e.g. twelve months required rental period); rent is often used to refer to month to month situations.


An option is a grant of the right to purchase property, at set price and terms Air Max Levně , from the owner of the property. The person who receives the option can (but is not required to) purchase the property during a set period of time agreed to by both parties when they enter the option.


An option is different from an agreement to sell (Purchase Agreement). Under an option, the seller agrees to sell, but the buyer does not agree to buy; the buyer simply has the option of buying during the option period. A Purchase Agreement provides that the buyer agrees to buy and the seller agrees to sell.


NOTE: In an Option, the Seller is the Optionor (The one who gives the Option) and the Buyer is known as the Optionee (The one who receives the Option).


What is needed to SET UP a Lease with Option to Buy?


To set up a Lease with Option to Purchase with a tenant Air Max Vyprodej , you will need all of the documents you would normally use to set up a simple rentallease:
? Option Agreement*Purchase Agreement
? Rental Agreement
? Check-incheck-out list
? Lead Base Paint Disclosure and pamphlet
? Smoke Detector Agreement
? Any other agreements you would normally use).
*Be sure that Option Agreement you're using protects you as the Optionor, as many option forms available favor the Optionee. Attached to the Option Agreement will be a Purchase Agreement, which will spell out the terms of the sale under which the tenant may purchase.


NOTE: It is important that both parties initial the Purchase Agreement on the top or bottom corner to acknowledge that the terms have been agreed to but it is not yet a binding Purchase Agreement. Also, be sure to use an Option form that is not recordable Nike Air Max CZ Eshop , on the public records so that the tenant doesn't unnecessarily cloud the title to your property.


BENEFITS of doing Lease Options
Let's look as some things that you can expect when you offer your property on a Lease with Option to Buy:
1. If you place an ad for your property offering a lease with Option to Buy, you can generally expect five times the number of responses than a regular "For Rent" ad. There are a lot of people looking for an opportunity to own their own home rather than just continue to rent.
2. The tenants who call will b