How to Do a Lease-Option on a Home

To Do a Lease-Option on a Home, you have to agree with the seller on a purchase price. After that, agree on the term of the lease. Then, determine a market value for your monthly rent. You need to add $25 to $200 per month to be applied toward future down payment of the home. Next, agree upon terms regarding the exercise of the option. Forth, Determine who will pay for inspections, work and warranties once the time comes to complete the purchase.
After that, Go to your local Board of Realtors Association or Real Estate Company and buy a lease-option agreement form. Then, Handle the transaction as a lease until you are ready to exercise the option. Next, Exercise the option in writing. Last, Open escrow or contact a real estate attorney to handle the transaction.