Lease With Option To Buy
We offer most of our properties "lease with option". If you are interested in a lease with option to purchase, check back often to see the new properties we've added to this page.
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526 Lookout Ridge
Lebanon, Ohio
3 bedrooms
2 bathrooms
full basement
$1200 month rent
$1500 descurity deposit ($100 more per pet and/or smoker)
Lease w/Option $152,000 (appraised for $160,000)
This newer house, built in 2001, has 3 large bedrooms, (each bedroom has a walk-in closet) and 2 full baths. It has a large great room with vaulted ceilings that opens up into the kitchen. New, contemporary black refrigerator, flat top stove & dishwasher! It has a full, unfinished basement. Ideal for a young family! Complete with a two car attached garage with opener. The house is freshly painted in a neutral color. Avaialble December 1st!
For more pictures, please go to; share.shutterfly.com/action/welcome?sid=8BYsm7Zw0ZqOgo
Money due at least signing-
- Rent is $1200 per month with the $50 discount if paid before the first of the month, $50 more per month pet and smoker, utilities are not included.
- Security Deposit is $1500 ($100 more per pet and/or smoker)
- Final months rent of $1200 (can be broken into 5 payments of $240)
Optional;
- *Lease w/option earnest money $2000 (optional) applied towards the purchase *plus* owner will give $200 per month towards purchase price of $152,000 (appraised at $160,000) - so we help you build your down payment while you're living there.
Option to Purchase:
Above $for rent & deposit, plus $2000 (non refundable) applied towards purchase price of $152,900 (appraised at $160,000) - so we help you build your down payment while you're living there.
Security deposit of $1500 will be applied towards the purchase, at closing. $200 per month of the rent money will be applied towards down payment (payments must be on time, to qualify).
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7480 
2 bedrooms - 2 full bathrooms
For Rent - $875* month
Lease w/option considered:
$1500 down, plus $100 per month of rent money will be applied towards purchase
price of $84,900
This elegant condo was built in 1999 and has 2 bedrooms (each with a walk-in
closet), 2 full bathrooms, vaulted ceilings and a fireplace. It has it's own
laundry room off the kitchen. Stove, refrigerator & dishwasher are
provided. The community has a pool, tennis courts & exercise room. An
indoor storage unit is provided. Secure building (key needed). Easy access to
I-75 & convenient to many stores. Duke Electric bills averaged $127 per
month over the last year. Water & garbage paid by condo association! Assigned
parking space. Lakota Schools!
For more pictures, go to; http://share.shutterfly.com/share/received/welcome.sfly?fid=811738e71e17ab649a16dcf07a6807f9&sid=8BYsm7Zw0ZqOoI
Rent is $875 per month* (with the $25 discount if paid before the due date)
Money Required -
First months rent of $875* ($50 more per pet and/or smoker)
Security deposit of $1000 ($100 more per pet and/or smoker)
Last month's rent (can be paid in 5 monthly installments of $175)
Option to Purchase:
Above money required plus $1500 applied towards purchase price of
$84,900
Security deposit of $1000 applied towards purchase, at closing $100 per month
of the rent money will be applied towards down payment (payments must be on
time to qualify)
The owner will pay property taxes & condo fees until closing.
Creative financing, or lease with option to purchase is available only to
qualified buyer!
* Lease with Option to Purchase Explained . . .
Lease with Option to Purchase can be done several different ways. Typically, the details of the sale of the house have been predetermined (sale amount and closing date), all we are doing is delaying the closing until a time better suited for the buyer.
Security deposit is paid as with any lease. If you buy the house, it is applied to your down payment at closing. If you change you mind for any reason, the security deposit will be used to cover any unpaid rent, late fees or damage until termination of the lease.
When rent is paid on time (by or before the 1st of each month) Landlord agrees to apply $100 per month towards the purchase of the house, up to a maximum of $2400 (24 months x $100). If tenant does not purchase house within the time frame agreed upon, none of this money will be paid. If purchaser obtains financing prior to the end of the contract, there will be no penalty & all monies paid under the Landlords Consideration towards the purchase of the house to date, shall be paid to the purchaser at closing.
Property taxes are paid by me (the owner of record) until you close on the house. The maintenance however is your responsibility. I thoroughly go over each house before a lease with option to make sure there are no current problems. If there are, I fix them before we enter into the lease with option.
So, to recap, a lease with option gives several benefits to the buyer when fulfilled. It helps you build your down payment towards the purchase of a home. In this area, typically houses appreciate. Any appreciation is the buyers, not the seller. This time also allows the buyer to;
1) clean up credit
2) payoff any outstanding bills, lowering their debt to income ratio
3) allows buyer to sell current home to use equity in the new purchase
4) build their down payment on the new home