Lease Agreement South Carolina With Option To Purchase
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How to fill out Lease Agreement South Carolina With Option To Purchase?
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FAQ
Sellers agreeing to lease option deals arguably have more to lose than buyers. If house prices rise they're likely to regret agreeing a price at the time the option was taken out. If prices fall there's a risk the buyer or investor will not exercise their option to buy, and they'll still be stuck with the property.
A lease purchase agreement in real estate is a rent-to-own contract between a tenant and a landlord for the former to purchase the property at a later point in time. The renter pays the seller an option fee at an agreed-upon purchase price, giving them exclusive rights to buy the property.
They give the tenant the ability, prior to the conclusion of the lease term, to continue leasing the premises. An option to renew or extend the lease means that upon the tenant's exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term.
Unlike a sale agreement with seller financing, a lease-option allows the owner to continue to receive tax deductions as the owner. Interest, taxes, maintenance and depreciation may still be deducted against the rent received.
What is a lease-option-to-buy? A lease-option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment.