A residential Lease Option to Purchase is a very important document. If it is your intention to fill in the blanks and prepare a completed form online you should consider doing a little research first. Below are some basic instructions to help prepare you for this task.
Collect the following information to help you complete your form
- Name of landlord
- Name of tenant(s)
- Property address
- Amount of rent $
- Date of inception
- What is the address where payment is to be made ?
- What is the term of the lease ?
Types of Deposits – Having to do with Money
- Security deposit
- Pet deposit
- Cleaning deposit
- Pro-rated rent amount
- Purchase price of the property must be established
- What is included.. fixtures and personal property
- Disclaimer concerning financing
- Encumbrances on the property and how they are to be handled
- Rights of the tenant to examine title
- Escrow: how costs are split? when does it close ?
- How the option must be exercised and when it terminates
- What happens to all the money involved ?
- Is the consideration paid for the option refundable?