Lease with option to buy

A lease with a purchase option is a lease which includes a clause or statement determining the price of the property if you wish to purchase it. A lease agreement with an option to buy may also set aside a portion of each month's rent as down payment toward the purchase price. Non-refundable option money is paid by the renter to the seller in order to bind the contract. A lease purchase agreement is then signed by both parties. For more information on leasing with an option to purchase, contact a real estate professional.