With a Lease with Option to Purchase, you have an option to buy the home you are leasing within one to two years at an agreed price.
When you close, the lease option consideration you paid, is then applied to the purchase price.
Requirements include a lease, lease option consideration (typically 5-10% of the purchase price,) and an approved application.
NOTE: If you do not close within two years, you would need to re-negotiate an acceptable new lease agreement or forfeit the lease option consideration.
1507 S Pickwick, Springfield, MO is available to RENT TO OWN with a Lease with Option to Purchase.
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