Lease-Option Agreements

What you should know about lease-option agreements

Tips for buyers:

* Consider hiring an attorney to review your contract.
* Record the agreement with the county. This helps prevent a homeowner from selling the property to someone else while you have the option to buy it.
* Make sure the contract spells out clearly how and when you can buy the home.

Tips for sellers:

* Make sure you have the ability to terminate the contract if the buyer violates the terms of the lease, including not paying rent or damaging the property.
* Take some time to determine the selling price. It can be predetermined, or an appraisal can be ordered closer to the time the home can be purchased.

If you need help, please call me, Marina (Realtor) at 801-649-5883 or marinav30@yahoo.com