Lease-Purchase
What is Lease-Purchase?
Lease-purchase is a real estate agreement where a tenant leases a property for a specified period and is contractually obligated to buy it at the end of the lease term or under agreed-upon conditions. Unlike a lease-option agreement, which gives the tenant the right but not the obligation to purchase, a lease-purchase agreement typically requires the purchase to be completed. These agreements often include terms regarding the purchase price, rent credits, and the timeline for closing the sale.
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What is a Lease-Purchase?
A lease-purchase agreement obligates the tenant to buy the property at the end of the lease term at a pre-agreed price. Learn how it differs from rent-to-own, what the financial commitments look like, and whether it's right for your situation.
