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How does a lease with option to buy exactly work?
Suppose I rent a house out with an option to buy. How much extra would I charge a month for the option? How do I know what price to agree on? Suppose the house is worth $120,000 right now, and I rent it out for $1200 per month. How would I do the transaction? The house would normally rent for $1200 a month. How much would the new monthly rent be with the option included?
Public Comments
- Here in the UK it means that you agree on a value of the house when you are in a position to purchase at a later date and the rent you have paid prior to this counts towards your deposit.Get a lawyer to explain and deal with this for you as it is easy to be caught out in an unfair arrangement.
