Lease Option
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Early Termination of Contract
An ‘Early Termination of Contract’ is signed between a buyer and a seller when any of them do not wish to act as per the original contract, such as, an ‘Offer to Purchase Agreement’. The contract requires some information and both the parties need to sign it in order to terminate it.
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Lease to Purchase Agreement
Lease to Purchase Agreement is signed between a buyer and a seller, where the buyer pays option money to the seller in order to purchase a property. It is advantageous for both the buyer and the seller. The buyer can gradually become a homeowner by making initial small down payment; the seller can get the present market value and is also saved from paying a mortgage on a vacant property.
More about Lease to Purchase Agreement- Buyer || Download Lease to Purchase Agreement- Buyer
Seller option to purchase
An optionee/buyer and an optionor/seller sign a Seller Option to Purchase Agreement, where the buyer pays option money to the seller. It establishes the buyer’s right to purchase the property when the contract ends. However, the buyer is not obligated to purchase the property and the seller is not obligated to refund the option money to the buyer if he/she doesn’t purchase the real estate.
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Rental Agreement
A Rental Agreement is a legally binding contract that is signed between a tenant and an owner/landlord. The contract specifies certain rights that both the parties need to follow throughout the duration of the agreement. A Rental Agreement specifies a time period during which the tenant can occupy the described property against certain amount of money that he/she has to pay the owner every month.
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