Lease Purchase Agreements Package - West Virginia 2025

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A West Virginia rent-to-own agreement is a lease that contains an option to purchase, enabling the tenant to buy the property before the agreement expires. The first portion of the document allows the landlord to set the rental conditions, while the second part of the agreement sets the terms for buying the property.
In a standard Lease-Purchase Contract, the two parties agree to a lease period during which rent is paid, and the terms of the sale at the end of the lease period, including sale price. Often, the contract is structured in two parts, one representing the lease term and the other a contract of sale.
Yes, West Virginia law states that tenants must give at least 30 days written notice before breaking a lease.
A rent-to-own lease agreement is one way that tenants can get around the credit trap and start building equity. It can also be a good solution for landlords who wants to sell but find themselves stuck in a buyers market or with property in an undesirable location.
Lease-purchase is a program where a home is rented for a period of time to a prospective buyer. The grantee should work with the renter to ensure that they have improved or repaired their credit and saved enough to purchase the home.

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A major disadvantage of renting to own is that renters lose their down payment and other non-refundable charges if they decide not to purchase the home. Some sellers may even take advantage of renters by making it difficult or unappealing to purchase the home with the goal of keeping the down payment.
A rent-to-own agreement can get you started on the journey to home ownership if you are unable to afford a down payment right now. It can also be a good way to get started if you need time to repair your credit before applying for a mortgage.

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