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Lease Option To Buy Explained

Written by Tamara Schmitt
Friday, 25 November 2005
When a renter signs a lease with an option to purchase a property for a specific price within a certain time frame, that is called a lease option. In most lease-option situations, a portion of the rent is applied to a future down payment. Lease options are most popular among buyers who don't have enough funds for a down payment and closing costs.
Last Updated ( Thursday, 20 July 2006 )

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