Real Estate For Fun And Profit » paperwork http://realestateforfunandprofit.com Mon, 21 May 2012 04:48:49 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 What are the typical provisions of a lease/option agreement? i.e. Down Payment, Rent, etc.? http://realestateforfunandprofit.com/what-are-the-typical-provisions-of-a-leaseoption-agreement-i-e-down-payment-rent-etc/ http://realestateforfunandprofit.com/what-are-the-typical-provisions-of-a-leaseoption-agreement-i-e-down-payment-rent-etc/#comments Fri, 30 Jul 2010 11:34:53 +0000 Anon I am currently renting and a home across the street has recently become available for sale by owner. I have recently applied for a mortgage but my approval requires me to complete several items that may take a few months.I approached the owner with the possibility of a lease/option agreement so I may move into the home and leave the rental property. The owner mentioned today an option "fee" of ,500 and monthly rent of ,500 with a final purchase price of 3,900. Does the option fee typically get applied to the purchase price when I complete the sale? Should I request a percentage of my rent to be applied to the final purchase price as well? I haven’t received any of the paperwork yet but just wanted some ideas. I am new to this.


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