Residential Property Lease With Purchase Option In Montgomery
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
A lease with an option to buy contract can pose disadvantages for the buyer, such as losing credited funds if lease terms are breached, potentially facing higher capital gains taxes, waiting to take possession until the owner is ready to sell, and difficulties qualifying for a mortgage later on.
Pros of lease options as a seller May help you sell in a down market: If you decide to go with a lease option, you may be able to widen your pool of potential buyers, since you can now include people who aren't ready to commit to buying a house in a traditional sense.
Section 29-27(w) of the Montgomery County Code requires that all licensed landlords attach the Lease Summary to each new lease.
“When you do a lease option, you're betting that you're going to qualify for a mortgage and be able to execute and buy the property,” says Timothy McFarlin, a California real estate attorney. “Make sure you have a path to do that.”
