Rent to Own Contract
1. PARTIES:
This rent to own agreement for the Property is made on _______________ between the Buyer
_________________________ and the Seller _________________________.
2. THE PROPERTY:
Street Address:
___________________________________________________________________________
Property Description:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
3. PURCHASE PRICE:
The total purchase price for the Property is $ _______________.
For each month that the Buyer pays his/her rent on time according to the lease agreement, a rent credit
of $ _______________ will be applied to the purchase price at closing. This is provided that the Buyer
timely exercises this option to purchase, is not in default of the lease agreement and closes the
conveyance of the Property.
4. OPTION TERM:
The Seller hereby grants the Buyer the option to purchase the Property. The Seller agrees that he/she
will not attempt the sale of the Property to any other party while this rent to own contract is in effect.
Upon agreement the option will begin at _____ AM/PM on _______________ and expire at _____
AM/PM on _______________.
5. NOTICE REQUIRED TO EXERCISE OPTION:
To exercise this option, the Buyer must deliver the Seller a written notice of exercise of option before
this option expires. The written notice has to specify a closing date that is earlier than the expiration
date of the option to purchase and lease agreement.
6. OPTION CONSIDERATION:
As consideration for this option to purchase, the Buyer shall pay the Seller a non-refundable fee of $
_______________.
If the Buyer timely exercises this option, this fee will be applied to the purchase price at closing,
provided that he/she is not in default of the lease agreement and closes the conveyance of the Property.
If the Buyer fails to exercise this option, is in default of the lease agreement or does not close the