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The Basics of Rent-to-Own Agreements | Nolo – The Option to Purchase. An option to purchase grants the tenant an option (right) to buy the rental property within a specified period of time in exchange for a fee (option fee), that is usually paid up front, and/or in the form of a higher-than-market rent (some of which is applied to the house purchase).
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Rent to Own Houses in Dallas, TX – Lease-Purchase Options. – While there is no official standard rate or process for rent-to-own options in Dallas, typically, the potential buyer pays an option fee (sometimes referred to as "option consideration") which gives them the opportunity to purchase the home in the future.
Rent to Own: Is it an Option? | Homes.com – Rent-to-own is an alternative to the traditional agreement between home buyers and sellers. Typically, a buyer presents an offer.
Process Involved in Rent-to-own Homes – HowStuffWorks – Process Involved in Rent-to-own Homes Prev NEXT When homeowners are eager to sell after having their house on the market for a while, a rent-to-own agreement may be their best option.
The Basics on Lease-Option (Rent to Own) – Tenants must pay extra to rent with the option to buy, which is where the option fee comes in. Landlords often seek 1-5 percent of the purchase price. Whatever amount is agreed upon, it can be paid upfront or over the course of the lease as a part of the monthly rent.