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Everything is negotiable: A rent to own transaction, also known as a lease option, starts with the contract. Both the buyer and seller agree to certain terms, and all of the terms can be changed to fit everybody’s needs. Depending on what’s important to you (whether you’re a buyer or seller), you can request certain features before signing an agreement.
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In the years leading up to the financial crisis of 2007-08, the rent-to-own model – in which tenants/buyers have an option to purchase the house or condo they’re renting from their landlord/seller- was mostly offered by individual homeowners.
I think you mean what is a "form contract". It means something preprinted and customary. You can find many on line (for a price) and in form books published by many places (including law.
For many, the rent-to-own home may be the best option. Also called a lease-to-own house, the process works similarly to a car lease : Renters pay a certain amount each month to live in the house, and at the end of a set period — generally within three years — they have the option to buy the house.
Can someone explain me what lease to own really mean!!? find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.
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Definition of lease to own: An agreement between an owner and lessee which allows for the option of purchasing a leased item when the lease period expires.. An agreement between an owner and lessee which allows for the option of purchasing a leased item when the lease period expires. A lease.
Charge off means that the credit grantor wrote your account off as a loss, and it is closed to future charges, although the debt is still owed.
Lease definition, a contract renting land, buildings, etc., to another; a contract or instrument conveying property to another for a specified period or for a period determinable at the will of either lessor or lessee in consideration of rent or other compensation. See more.