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A lease option agreement allows you to buy a property now and pay for it later, applicable to land, residential houses, and some commercial properties. People are showing interest in lease option agreements, excluding businesses. This method is being popularized to encourage poor individuals to buy now and pay later on liabilities, like purchasing a sofa. This approach may not be foolish as it allows individuals to hold onto their money, which tends to decrease in value over time. However, the value of the sofa may depreciate after use.
