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learn what’s at stake and if it’s the right option for you with our in-depth breakdown of a lease purchase agreement and its benefits. the difference between a lease option and a lease purchase agreement is that the lease option only obligates the seller to sell. lease purchase agreements will often have a longer period for the lease, typically up to 3 years. at the end of a 24-month lease, the buyer has the option to use $9,600 as a down payment of 3.8%, just above the minimum for most mortgages.
of course, a lease purchase agreement is set up in such a way to benefit both parties. a lease purchase agreement can be attractive to renters and first-time home buyers for a range of reasons. buying rental property is one of the ways you can turn a profit by investing in real estate. apple and the apple logo are trademarks of apple inc. registered in the u.s. and other countries.
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