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Lease Option Memo

This document is a residential lease agreement with an option to purchase between a seller/landlord and buyer/tenant. It outlines a monthly rental amount for an initial lease term of 18-24 months. The buyer/tenant is responsible for maintenance costs up to $500. It also grants the buyer/tenant an option to purchase the property for a set price during the option period, which matches the lease term. The buyer/tenant pays a $1 option consideration that will be credited towards the purchase. At closing, the buyer/tenant will receive a monthly rent credit but must pay all closing costs. The option expires at the end of the lease term. The agreement is contingent on a property inspection and signing a formal purchase agreement.

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51 views1 page

Lease Option Memo

This document is a residential lease agreement with an option to purchase between a seller/landlord and buyer/tenant. It outlines a monthly rental amount for an initial lease term of 18-24 months. The buyer/tenant is responsible for maintenance costs up to $500. It also grants the buyer/tenant an option to purchase the property for a set price during the option period, which matches the lease term. The buyer/tenant pays a $1 option consideration that will be credited towards the purchase. At closing, the buyer/tenant will receive a monthly rent credit but must pay all closing costs. The option expires at the end of the lease term. The agreement is contingent on a property inspection and signing a formal purchase agreement.

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api-173017484
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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RESIDENTIAL LEASE and OPTION TO PURCHASE AGREEMENT

BUYER/TENANT: Resource Real Estate Holdings, LLC and/or Assigns.

Date: ____________

SELLER/LANDLORD: _______________________________
PROPERTY ADDRESS: _____________________________________

RESIDENTIAL LEASE
1) Rent: $
per month
2) Lease Term: _____months, beginning UPON POSSESSION and ending UPON
TERMINATION OF THE LEASE. (Typically 18 to 24 Months)
3) Maintenance: Buyer/Tenant will be responsible for maintenance and repairs of the
property, not to exceed $500 per incident.
OPTION to PURCHASE
4) Purchase Price: $____________
5) Option Period: ______months, beginning UPON POSSESSION and ending UPON
TERMINATION OF THE LEASE. (Typically 18 to 24 Months)
6) Option Consideration: $1 All Option Consideration will be credited in full toward the
purchase of the property.
7) Rent Credit: Buyer/Tenant will be credited $ 0 per month toward the purchase.
8) Closing Costs: Purchaser will pay all allowable closing costs.
9) Expiration: This offer shall expire on UPON TERMINATION OF THE LEASE.
10) Inspection: This offer is contingent upon physical inspection of property and subsequent
completion of a formal and signed Residential Lease with Option to Purchase Agreement.

Seller, Sellers agents, and all other parties to the opportunity acknowledge Kyle Johns as the
procuring cause of the transaction for the business opportunity presented by Kyle Johns and
agree not to circumvent with any purchase proposal, letter intent, contract to purchase, lease or
exchange or acceptance of any buyer presented exclusively by Kyle Johns.
Seller has the right to approve new Lease Option Tenant.
Seller may cancel this agreement at any time if they find their own tenant or decide not to sell.
Seller has the right to find their own tenant or sell their house at anytime. Seller may list the
property at anytime.

X_____________________________
Seller/Landlord
Date

X ________________________________
Buyer/Tenant
Date

X_____________________________
Seller/Landlord
Date

X ________________________________
Buyer/Tenant
Date

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