Lease Agreement with Option to Purchase Real Estate

This LEASE AGREEMENT WITH OPTION TO PURCHASE REAL ESTATE (hereinafter referred to as the Lease/Option) is made this
___________________ day of__________________, 20_____ ,by and between the following parties:___________________________
______________________________________________________________________________________________________________
located at_______________________________________________________________ (hereinafter referred to as the Tenant/Buyer); and
______________________________________________________________________________________________________________

located at_______________________________________________________________ (hereinafter referred to as the Landlord/Seller).

In consideration of the mutual promises and covenants hereinafter stipulated, the parties hereby agree as follows

(1) DESCRIPTION: The Landlord/Seller agrees to lease, and, the Tenant/Buyer agrees to rent the real property and improvements,
hereinafter called property; located at:____________________________________________________ as more fully described as follows:
______________________________________________________________________________________________________________
______________________________________________________________________________________________________________

(2) TERM: The term of this Lease/Option shall be for a period of ____ months commencing on _______ ,20____ ,and ending on
___________ The term will be automatically extended for _____ periods of_______ months, unless the Tenant/Buyer gives notice to the
Landlord/Seller of its intent to terminate this Lease/Option, by mailing a written notice to the last provided address of the Landlord/Seller.
Liability for payment will not extend beyond notice to terminate this agreement. Possession shall be given to Tenant/Buyer on _________

(3) RENT: Tenant/Buyer agrees to pay to the Landlord/Seller, the sum of $ _____ per month, with the first payment beginning
_______________ as rent for the property, for the term of this Lease/Option, and during any extensions thereof. All rental payments shall
be due and payable in advance on the 10th day of each and every month.
1. LATE FEE: Rent received after the first of the month will be subject to a late fee of $75 plus (10.00) dollars per day.
2. BAD CHECKS: Residents further agree to pay as a service charge the larger of $ 10 or 5% of the amount of any dishonored
check, regardless of cause.

(4) OPTION TO PURCHASE: The Tenant/Buyer, as part of the consideration herein, is hereby granted the exclusive right, option
and privilege of purchasing property at any time during the term of this Lease/Option agreement or any extension thereof. The
Tenant/Buyer shall notify the Landlord/Seller in writing of the exercise of this option at least ten (10) days prior to the expiration of the
initial term of this Lease/Option or the expiration of any extension thereof, by mail to the last-provided address of Landlord/Seller.

(5) COVENANTS OF TENANT/BUYER: Commencing with and during the term of this agreement, including extensions, the
Tenant/Buyer hereby covenants and agrees as follows:
(A) That the Tenant/Buyer will pay all utility charges and bills, including, but not limited to, water, sewer, gas, oil, and
electric, which may be assessed or charged against the property;
(B) That the Tenant/Buyer will not use the property for any unlawful purpose; and that the Tenant/Buyer will conform to
and obey all laws, ordinances, rules, regulations, requirements and orders of all Federal, Stale, and Local governmental authorities,
agencies, departments, bureaus, boards or officials, respecting the use of the property; and
(C) That the Tenant/Buyer will surrender and deliver up the property, at the end of the term or any extensions thereof,
should the option herein not be exercised, in as good order and condition as the same now exists, reasonable use and natural wear and tear
excepted.

(6) MAINTENANCE AND REPAIRS: The Tenant/Buyer accepts the property “as is" on the date of execution of this
Lease/Option. The Tenant/Buyer shall henceforth be responsible for all maintenance and repair upon said property, both interior
and exterior. The Tenant/Buyer shall have the right to make such repairs, maintenance, and improvements as Tenant/Buyer shall
deem necessary proper or desirable. The Tenant/Buyer shall be solely liable for payment for said improvements and shall hold the
Landlord/Seller nameless there from The Tenant/Buyer agrees to maintain the premises during the period of this agreement and
cover the cost if anything goes out of order and repair is necessary. This includes woodwork, floors, walls, furnishings and
fixtures, appliances, windows, screens doors, lawns, landscaping, fences, plumbing, electrical, air conditioning and heating, and
mechanical systems. The Tenant/Buyer is responsible for the cost of any repairs necessary for the above systems to operate
properly. The Tenant/Buyer acknowledges specific responsibility for replacing and/or cleaning filters on a/c and heating units.
Any damages caused to units because of not changing and cleaning filters will be paid for by the Resident. Tacks, nails, or other
hangers nailed or screwed into the walls or ceilings will be removed at the termination of this agreement. Damage caused by rain,
hail or wind as a result of leaving windows or doors open, or damage caused by overflow of water, or stoppage of waste pipes,
breakage of glass, damage to screens, deterioration of lawns and landscaping, whether caused by abuse or neglect is the
responsibility of the Resident. Resident agrees to provide pest control in the event it is needed.

(7) SECURITY DEPOSITS: The total of the above deposits shall secure compliance with the terms and conditions of
this agreement and shall be refunded to The Tenant/Buyer within _____ days after the end of this agreement
less any amount necessary to pay Landlord/Seller; a) any unpaid rent, b) cleaning costs, c) key replacement costs, d)
cost for repair of damages to premises and/or common areas above ordinary wear and tear, and e) any other amount
legally allowable under the terms of this agreement. A written accounting of said charges shall be presented to
The Tenant/Buyer within _____ days agreement termination

(8) UTILITIES: The Tenant/Buyer agrees to pay all utilities and/or services based upon occupancy of the premises

(9) INSURANCE: The Tenant/Buyer acknowledges that Landlord/Seller insurance does not cover personal property damage
caused by fire, theft, rain, war, acts of God, acts of others, and/or any other causes, nor Landlord/Seller be held liable
for such losses. Tenant/Buyer is hereby advised to obtain his own insurance policy to cover any personal losses

(10) RIGHT OF ASSIGNMENT: The Tenant/Buyer shall have the unqualified right to sublet the property, and/or to assign, sell,
transfer, pledge or otherwise convey any or all rights or interests which the Tenant/Buyer may have in the property or in this Lease/Option
Agreement. Any such assignment will release original Tenant/Buyer from liability and substitute assignee in his/her or its place.

(11) REPORT TO CREDIT/TENANT AGENCIES: You are hereby notified that a nonpayment, late payment or
breach of any of the terms of this rental agreement may be submitted/reported to a credit and/or tenant reporting
agency, and may create a negative credit record on your credit report.
(12) BINDING AGREEMENTS: The parties hereto agree that this Lease/Option comprises the entire agreement of the parties and
that no other representation or agreements have been made or relied upon, and that this Lease/Option agreement shall inure to the benefit of
arid shall be binding upon the parties, their heirs, executors, administrators, personal representatives, successors or assigns.

(13) CHANGE OF TERMS: The terms and conditions of this agreement are subject to future change by Landlord/Seller after the
expiration of the agreed lease period upon 30-day written notice setting forth such change and delivered to
Tenant/Buyer. Any changes are subject to laws in existence at the time of the Notice of Change Of Terms.

1. OPTION TO PURCHASE TERMS

(14) PRICE AND TERMS: The Tenant/Buyer agrees to pay for said property the sum of $___________________________________ less
any sums for which the Tenant/Buyer is entitled to claim reimbursement or offset in accordance with this agreement; the net sum to be paid
in cash, certified check, or cashiers check at closing.

(15) INCLUDED IN THE PURCHASE: The property shall also include all land, together with all improvements thereon, all appurtenant
rights, privileges, easements, buildings, fixtures, heating, electrical, plumbing and air conditioning fixtures and facilities, window shades,
venetian blinds, awnings, curtain rods, screens, storm windows and doors, affixed mirrors, wall to wall carpeting, stair carpeting, built in
kitchen appliances, bath-room fixtures, radio and television aerials, landscaping and shrubbery, water softeners, garage door openers and
operating devices, and all utility or storage buildings or sheds, range and refrigerator. The property shall also include the following items:
________________________________________________________________________________________________________________
____________________________________________________________________________________________________________

(16) CLOSING: The deed shall be delivered and the purchase money shall be paid at the lending institution's, or other office, of
Tenant/Buyer's choice, no later than sixty (60) days after notification to the Landlord/Seller of the Tenant/Buyer's exercise of the option.

(17) In the event this agreement is placed in the hands of an attorney for enforcement the prevailing party shall be entitled to recover court
costs and attorney fees.

IN WITNESS WHEREOF: the parties hereto, have set their hands to this Lease/Option Agreement on this ___________ day of
_________________________, 20______

WITNESS:

______________________________________________________ _____________________________________________________
Landlord/Seller Tenant/Buyer

_______________________________________________________ _____________________________________________________

Landlord/Seller Tenant/Buyer

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Hi Malea I have received your Example Lease to Purchase agreement in the email and must say there are some things I did not agree on
I completely reworked the agreement and have attached it in this email. I am trying to offer you an affordable option to keep you and your
family living in the house . Everything is priced below market value, not to mention my willing to agree on a 2 year term , not to mention
most landlords do not consider lease to purchase agreements unless they got high rent and purchase price way above market value

1st . When we spoke about buying the house from me for a set price of $18000, I was targeting a cash deal so the price was a cash price.
Now we are looking to expand this payment period in 2 year term which will make the purchase price of the property a bit higher set to be
$19800 in this agreement. Again compared to the estimated values of the houses in the neighborhood it is a steal for the same SQ/FT. Same
as a car if you go buy it cash price is low if you buy it on payments the price will be at least 1.5 of the cash deal. Not to mention increase in
property value in time. In 2014 market prediction is to go up slowly including the improvements you get exceptional Equity!!!

2th The rent portion of the monthly payment of just $200. It is a really low to me. Estimated rent on this house is from 600-950, not to
mention usually in this kind of agreements rent is inflated from the landlords.

3th I am giving you 1 extra month February 2016 , because I know you get tax return that may help you pay the remaining balance on the
property. If there will be any future extension which I hope no we have to put this in separate document in mutual agreement . You got
plenty of time to find financing using the power of this agreement and you job . I am also willing to see the options to report you on the
credit agencies as a good rent payee in this build you credit

Also the property has been in my name legally from January 1 st 2014 and you and your family have been living in there thru this time I
require rent to be paid for this period . I believe it is fair, As I said my time is the most precious asset I have, so I always put it at first
There are some advantages of you as a tenant/buyer, but the most valuable is having me as landlord. You won’t find a lot of honest and
caring people around that truly help!!!

Here are some features and benefits for the tenant/buyer:

● Faster equity growth: Equity accumulates much faster (five times or more!) than with conventional
financing through a bank or lender.
● Rent money is working towards purchase: Every month a portion of your rental payment (typically
$100-$300) is credited towards your down payment or off of the sales price.
● Option money is credited towards purchase: When you sign a Lease 2 Purchase contract, you will
pay the seller an option deposit. This money is your vested interest in the home and will be fully
(100%) credited to you when you buy the home.
● Minimum cash out of pocket: When you purchase a home the conventional way, you must pay at
least 5% down plus closing costs and prepaid fees. When you buy with a Lease 2 Purchase, you only
pay first month's rent and a small option deposit. This will save you between 25% and 85% every time
you buy a home.
● Frequently no down payment at close: Since you have given the seller an option deposit and you
have been receiving monthly rent credits, there will frequently be very little or nothing left to pay for a
down payment at closing.
● Profits from appreciation: Since the sales price is locked in before closing (as specified in your
agreement), any increase in property value will mean that your equity (what you owe minus what it's
worth) is increasing in the home.
● Increased buying power: When you buy a Lease 2 Purchase home, you can put down as little as
first month's rent and a $1 option deposit. Compare that to a typical bank or lender who requires 5-
30% down plus closing costs and prepaids.
● Credit problems okay: Qualification restrictions simply do not exist. You will be approved at the sole
discretion of the landlord/seller.
● No lengthy escrows or mortgage approvals: Your approval will be based solely at the discretion of
the landlord/seller instead of a lender who can take up to a month (or longer) to render a decision.
● Control of the home: You will be put in full legal control of the home for a specified period of time
without actually having to own it.
● Quick move in time: You can typically take possession of the home in a week or less, instead of
conventional move in times of one to three months, after your offer was accepted.
● Maximum leverage: You are spending very little (or zero) money to control a potentially very
expensive, and very profitable, piece of real estate.
● Time: Before you actually buy the home, you will have 3-24 months (depending on your agreement)
to repair your credit, find the best interest rates, investigate the home and research the neighborhood
and/or schools.
● Minimal maintenance: Large maintenance problems or any maintenance problems that exceed a
certain amount of money can be delegated to the landlord/seller.
● Privacy: Your name will not be on the deed or in the public records until you exercise your option to
buy.
● Peace of mind: You will have full control of the home and can maintain or improve it however you
wish