Create your Residential Lease Purchase Option from scratch

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Here's how it works

01. Start with a blank Residential Lease Purchase Option
Open the blank document in the editor, set the document view, and add extra pages if applicable.
02. Add and configure fillable fields
Use the top toolbar to insert fields like text and signature boxes, radio buttons, checkboxes, and more. Assign users to fields.
03. Distribute your form
Share your Residential Lease Purchase Option in seconds via email or a link. You can also download it, export it, or print it out.

Design your Residential Lease Purchase Option in a matter of minutes

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Step 1: Access DocHub to build your Residential Lease Purchase Option.

Begin by accessing your DocHub account. Utilize the advanced DocHub functionality free for 30 days.

Step 2: Go to the dashboard.

Once signed in, go to the DocHub dashboard. This is where you'll create your forms and handle your document workflow.

Step 3: Create the Residential Lease Purchase Option.

Hit New Document and choose Create Blank Document to be taken to the form builder.

Step 4: Design the form layout.

Use the DocHub tools to insert and arrange form fields like text areas, signature boxes, images, and others to your document.

Step 5: Add text and titles.

Include needed text, such as questions or instructions, using the text tool to guide the users in your document.

Step 6: Configure field settings.

Alter the properties of each field, such as making them compulsory or formatting them according to the data you plan to collect. Assign recipients if applicable.

Step 7: Review and save.

After you’ve managed to design the Residential Lease Purchase Option, make a final review of your document. Then, save the form within DocHub, transfer it to your chosen location, or distribute it via a link or email.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.
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A lease option is a type of real estate contract that allows renters to buy their rental when their lease is up. The propertys owner forfeits the ability to sell the property to anyone else during the lease term, and in exchange, the renter pays an upfront option fee and often a higher monthly payment.
The difference between a lease purchase agreement and a lease option agreement is that the lease option only obligates the seller to sell. A lease purchase agreement commits both parties to the sale barring bdocHub of contract or the buyers inability to secure a mortgage.
Cons. Typically requires an option fee in addition to your rent payments. Market shifts during your rental period may affect home value. Risk of losing money if you ultimately dont qualify for a mortgage or decide not to purchase the property.
Gives the seller time to find the right buyer: With a lease-purchase option, the seller can take their time finding the right buyer, rather than feeling pressure to sell their home quickly.
Cons of a Lease Purchase Agreement for Buyers Loss of down payment and option fee: If the buyer cant improve their finances enough to qualify for a mortgage by the sale date, they forfeit their option fee and additional rent payments (if any) to the seller.
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Related Q&A to Residential Lease Purchase Option

The main reason to avoid renting to own is that you will pay much more than the cost of the item in a short period of time. When you rent to own, you are essentially borrowing money to buy the item, and the interest rates are often very high.
Under ASC 842, leases containing a purchase option are accounted for as finance leases if the lease contains a purchase option the lessee is reasonably certain to exercise. Additionally, a title transfer at the end of a lease, designates the lease as finance.

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