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Important Disclosure BUYER IS THE PRINCIPLE IN THIS TRANSACTION AND IS NOT ACTING LICENSED REAL ESTATE AGENT. Com Website http //leaseownhomes. com Video Channel www. youtube. com/user/LeaseOwnHomes LEASE OPTION AGREEMENT MEMO Landlord/Seller will allow Tenant/Buyer Address City State Zip Term of Lease Option to be Monthly Lease Payment to be paid monthly in advance starting the day the Tenant moves-in plus the deposit which is equal to the first payment. Please print complete sign this for ...

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is a lease valid if not signed by landlord Virginia?

Yes, a contract to lease is binding in Virginia. Like some other states, Virginia only requires the signature of one party to be binding. If the landlord doesn't sign a lease that has been signed by the tenant, accepting rent has the same effect as signing the lease.

What is an option in an agreement?

An option agreement is where a prospective buyer enters into an agreement with a landowner for the right to buy their land/property, often paying the landowner a sum of money as an option fee. The prospective buyer then has the option (within a period defined within the agreement) to buy the land/property.

Do you have to record a lease in Virginia?

Recordation of Leases in Virginia Virginia law requires that a lease for a term of more than five years be recorded, or it is void as to all purchasers for valuable consideration without notice of the lease and not parties to the lease itself, and as to all lien creditors.

What does an option mean on a lease?

If there is an option, it is an agreement negotiated by the lessor (landlord) and lessee (tenant) before entering the lease. The option is the tenant's right to another fixed-term of the lease on the same terms as the existing lease.

What is an option to purchase?

What Is An Option To Purchase? An option to purchase agreement gives a home buyer the exclusive right to purchase a property within a specified time period and for a fixed or sometimes variable price. This, in turn, prevents sellers from providing other parties with offers or selling to them within this time period.

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