Lease Option Agreement Memo

Lease Option Agreement Memo.

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If you are undecided on purchase price, length of lease option term, or monthly lease payment--simply type in "To Be Determined"

First Name Last Name , hereafter known as "Seller," will allow Charles Young, hereafter known as "Buyer," to lease option the property at: Address City State Zip
Purchase price to be: $(Note: It doesn't matter much to us what price you put in here...We can probably get you market value --however, if you price it too high we may be unable to find a buyer)
Term of Lease Option to be: (Note: Usually 1-3 years)
Monthly Lease Payment to be: $ paid monthly in advance, starting the day the Tenant moves in. (Note: We should be able to get you market rent)

The term of the Lease Option to begin as soon as Buyer acquires a Lease Option Tenant for property.

This Lease Option Agreement Memo will be assigned by Buyer to a new Lease Option Tenant.

Seller has the right to approve new Lease Option Tenant.

Seller may use the Buyer's Lease Option Agreement forms or may use a form that Seller chooses when Tenant Buyer moves in.

Seller may cancel this agreement at any time. Buyer's intention is to find a Lease Option Tenant and assign this Lease Option Agreement Memo to that Lease Option Tenant for a fee. Lease Option Tenant will then pay Seller the monthly lease amount until they exercise their option or until they end the option term.

Seller agrees to allow Buyer to put a sign in the yard, advertising the property for sale. If Buyer does not acquire a Lease Option Tenant to assign this deal to within 45 days of acceptance of this Lease Option Agreement Memo, this memo becomes null and void.

Important Disclosure: BUYER IS THE PRINCIPAL IN THIS TRANSACTION AND IS NOT A LICENSED REAL ESTATE AGENT. BUYER DOES NOT REPRESENT ANYONE IN THIS TRANSACTION BUT THEMSELVES.

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