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What Is A Lease with Option to Purchase? What Does It Mean?

April 26, 2017lease mean option purchase

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What Is A Lease with Option to Purchase? What Does It Mean?

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A Lease with Option to Purchase is similar to a Rent to Own. Specifically, a home offered on a Lease with Option to Purchase program means you, as the tenant-buyer, may lease the home for the “option period” (a specified period of time). You have the exclusive option to purchase the home during the option period.