A lease with an option to buy is just like it sounds. It is a lease agreement, rental agreement, or whatever you want where the tenant has the 'option' to buy the home after a designated period time.
Lease options in Utah include 'option money' - a non-refundable payment put in a trust account that will be returned to the tenant if they buy the house or given to the seller if they don't exercise the option. They also include a security deposit that will be completely refunded if the house is purchased, or left to the sellers discretion if the option is not exercised.
A portion of the rent in lease options can also be applied towards the down payment if the option is exercised. If it isn't exercised, then the landlord just keeps that money as the normal rent.
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"Condo back on the market. Seller finance available. Seller is flexible with possession. 1 minute away from Freeway, shopping centers, schools. Nice and calm community. Handicap access. Thanks for showing. Pls text at least 2 hours in advance. Great Location for Salt Lake Downtowm commuters."
"REDUCED PRICE!! BEAUTIFUL, CLEAN, & UPGRADED 2 Bed 2 Bath w/Garage! GREAT home for the money: NEW 2-Tone Paint, Plush Carpet, Counter Tops (some Granite), AND Flooring THROUGHOUT !! Stacked Washer/Dryer & Fridge included!! EZ qualify -- See Agent Remarks."
"Wonderful Rambler with a basement! Granite in Kitchen, updates throughout. Close to freeways, shopping, Hill Air-force. Don't miss out on the square footage for the price! Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement."
"EXCELLENT SWEAT EQUITY OPPORTUNITY! COULD BE GREAT HOME WITH A LITTLE TLC! Perfect opportunity to make some sweat equity on this cosmetic fixer! Home offers 2592 square feet, 3 bedrooms, 2 bath, 2 car garage located on half acre lot. Good bones, just needs some TLC. Finance the repairs into the mortgage!"
"New carpet and paint. Great end-unit town home in nice, quiet setting with extra light from side window. Has enclosed patio, covered parking for 2 cars and attached storage shed. Convenient to I-15, US-89, Legacy, and Frontrunner. Will consider lease option. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement."
"Have you ever thought about owning your own house, but felt like you couldn't afford it. Well, this is your opportunity. The home features a very comfortable layout with 3 generously sized bedrooms and a full size bath that will accommodate your growing family. A welcoming family room with a wood burning fireplace to warm you up on those cold winter months that are coming up shortly. Original hardwood floors that bring out the beauty of the home, along with modern convenience such as a new water"
"You will love this "like new" town home located in a fantastic area. Gorgeous cabinets with granite counter tops. Beautiful tile work throughout a well laid out floor plan offering multiple areas for entertaining and open vaulted ceilings. Very nice amenities include a garage, additional covered parking, gated swimming pool, and great play area for the kids. Rent it for a $1000 m/ call agent for more details and down payment info. Square footage figures are provided as a courtesy estima"
"Lowest priced two bedroom in Farmington Crossing as of 9/15/14. Darling Farmington Crossing Townhome. Open concept with great room style floorplan, vaulted ceilings & large windows. Upgrades throughout: stainless steel appliances, granite countertops, tiled flooring & plush carpeting. Large master suite with full bath, walk-in closet & mountain views. Washer, dryer & fridge included. Development features two swimming pools, club house, 3 parks, walking trails and a new splash pad"
"Deluxe detached garage and work shop AND extra tall, 2 car carport. Seller financing available! Master suite, hardwood floors under carpet, custom carpet and paint, covered patio, all brick exterior. On a quiet, family-friendly street, walking distance to 2 parks, this home is move-in ready. Buyer to verify all info."
"This is a Steal! Price Reduced to Sell! You can't get any of the new ones for this price with a finished basement! Gorgeous townhome in the heart of Bountiful! This one has all the upgrades: Hardwood Floor, Granite Counters, Kitchen Island, Fully-Finished Basement. All bedrooms are on the same floor! Great Access to shopping and freeways. Minutes to the University of Utah and downtown SLC. Agent related to seller."
"Remodeled and ready to go*Property can not close prior to Jan. 1, 2015*Seller is willing to let potential Buyer rent until new year and close then*New Carpet*New Paint*New furnace and A/C*New tile and wood flooring*Yard to be installed at asking price*Call agent with questions regarding terms of closing and possible short term lease to purchase options*Owner/Agent"
"EZ access to I-15 and Legacy Highway. Lovely Woods Cross home move in ready. Fenced yard. Updated bathroom countertops. Fresh paint. 100% wood front door. New blinds. Real hardwood flooring. Oversized efficient air conditioning unit. New water heater. Close to parks, and walking trails."
"Beautiful townhome built by Ivory. This model is the largest floorplan available and has lots of upgrades: featuring stunning 18 foot ceiling in living room, black granite countertops in kitchen, GE appliances, plantation shutters, tile flooring, built in storage shelves in garage, large master suite, walk-in closet in 2nd bedroom. Newly, fully finished basement features 2nd kitchen and ceramic tile throughout. Great community with a swimming pool, 2 playgrounds, and Legacy walking trails. Br"
"Amazing 7 bed, 3 full baths, in great neighborhood for this price?! New carpet, new paint, landscaped yard, vaulted ceilings, great room with fireplace, grand master suite, basement family room and HUGE bedrooms. Seller financing available! Get it now before it's gone! Buyer to verify all info."
"WHAT A GREAT FIND NOW! ALL NEW PAINT & NOW GRANITE COUNTERTOPS * CUSTOM BUILT HIGH ON BOUNTIFUL EAST BENCH W FOREVER LAKE AND SUNSET VIEWS * PROTECT YOUR FAMILY & BREATH CLEAR AIR THIS WINTER SINCE YOU CAN AVOID WINTER INVERSIONS WHEN YOU'RE HIGHER LIKE THIS HOME! ALSO, THERE ARE HIKING & BIKING TRAILS NEARBY THAT ARE EVEN HIGHER & ALWAYS ABOVE THE EVER INCREASING STINKY WINTER INVERSIONS! BIG PRIVATE YARD * SPACIOUS OPEN FLOOR PLAN * ALL NEW STAINLESS APPLIANCES * NEWER HVAC,"
"Seller is making a job transfer and needs sold today. Exclusive Bountiful bench location with Swiss-Tudor charm. Beautiful mature landscaping includes large pines, fruit trees, shrubs, flowers, garden space, and Koi pond with Lilly pads and stream. Inside is very well cared for with tons of room, many updates include: new flooring, paint, 5 year old HVAC, brand new low E windows, as well as insulation added in attic. Basement has full living quarters with storage, kitchen, bath, and 2 bedrooms"
"This Rambler was totally remodeled. Roof,windows,A/C,Garage doors & opener,paint,carpet,tile,sinks,lighting,bathrooms,kitchen,. Wood floors all refinished it is ready to go. This should quickly so don't wait. No sign or key box on property"
"This beautiful and well maintained home is located in East Layton overlooking Hobbs pond and the Kays Creek Parkway, especially beautiful in the winter and fall when the leaves are off the trees. Mountain views and never having backyard neighbors adds to the getting away and country feel of the property. A large kitchen and dining area allows plenty of room for family events. All this close to shopping and major commute corridors."
"BETTER THAN BRAND NEW!!! This beautiful 6 bedroom 3.5 bath Ivory built home is less than a year old and was only lived in for 8 months. It is the Clairemont floor plan, same as the model home in the Greyhawk development. All the window coverings have been taken care of, there is a top of the line water softener already installed and the major landscaping is done for you, there are two separate patios, one even has a fire pit! There is also a 500sqft basketball in the backyard. It has gorgeous vi"
"You can go your whole life without finding a house like this. Massive home with unique layout and endless possibilities. It would cost almost double the asking price to build this home new in todays market. Great floorplan with 12' ceilings even in the basement & with two levels of unfinished basement. Giant heated basement garage perfect for 4 wheelers, project cars, work shop, motorcycles, paint or dance studio or whatever you're into. Main floor could use some cosmetic updating. Nearly h"
"Big Price reduction! I think this is one of the nicest homes I have marketed in several years. The home features BIG open spaces. The kitchen is a cooks dream lots of cabinet space and countertop space. Granite countertops. beautiful real finished wood. The basement family room is big enough to have a kick ball game. You could easily make it a mother in law apartment. If you have a big family or just a few but everyone needs their space then this is the home for you. The back yard is like a park"
"Motivated Seller!!! Beautiful 4 Bedroom home on large private acreage in desirable East Layton area. Plans for finishing basement and full landscaping available. Open floor plan, wooded lot, beautiful master suite on main. Dual A/C for upstairs and main floor with separate thermostats, alarm system."
"Huge Price Reduction!*** Great Character and Charm can be found throughout this one of a kind home. Nestled in the heart of Bountiful enjoy the breathtaking views of the mountains or hike the nearby trails. This great family home comes with 7 bedrooms, 4 bathrooms, a beautiful updated and remodeled kitchen, cherry wood cabinets, granite counter tops, lots of storage, main level laundry, 2 family rooms, 4 fireplaces including one in the master bedroom, .24 acres of mature trees, multiple decks wi"
"Fabulous twin home located in the prestigious Eaglewood Estates (PUD). Nestled in the North Salt Lake foothills with gorgeous mountain & valley views. When purchased new every upgrade possible was put into this condo. High end upgrades with top quality! 10' ceilings and huge picture windows gives this home a spacious & open feeling bringing in lots of natural sunlight. Entrance to upstairs is either by stairs or personalized custom elevator. Vaulted ceilings, huge picture windows, hardwo"
"This home gets better and better. Reduced over $45,000, wonderful perennial gardens, meticulously maintained. Custom Scenic Hill's home on private half acre + lot. Open floor plan with tons of light and incredible views with access to deck, patio and yard. Kitchen features staggered knotty alder cabinets, hardwood floors, granite counters, stainless appliances(including 2 dishwashers), island and a huge walk-in pantry. Laundry is conveniently located off the kitchen. Master suite with jetted tub"
"NEW PRICE, INCREDIBLE VALUE! Impressive home with spacious interior perfect for entertaining family and friends. Beautiful views of both the mountains and valley! Features include theater room with leather seating, game room with wet bar and pool table (accessories included) exercise room, ample storage and 4 car garage. The master bedroom is an oasis of its own which includes a large en suite with heated tile flooring and duel shower heads, take a moment to relax in the jetted tub after a long "
"BEST VALUE ON THE MOUNTIAN IN NSL OR BOUTIFUL!!! Live in and love Summerwood for less than $600. Great investment or rental. Surrounded by million dollar homes. 12 mins from downtown SLC, 15 mins from airport, 45 mins to 11 different ski resorts. Mountainside community with two golf courses nearby. 5 car garage with large storage above detached garage. Home backs onto treelined mountain."
"HUGE PRICE REDUCTION!! Builders personal custom home. This home is sure to impress with 4 bedrooms, 4.5 bathrooms, 2 kitchens, home office with seperate enterance, 20 ft ceilings in the great room and 10 ft ceilings in the basement. No corners were cut in building this home, from the high end Granite Countertops to the Decorative Crown Moldings and Paint Job. 3 car garage and RV pad. With 5 decks overlooking the South Weber valley, this custom home sits on .68 acres and is stunningly landscaped "
"$50,000 price reduction!!VERY MOTIVATED SELLER!! This is a beautiful home with evan better views. It is a 2-car garage but has an Eagle Glo car lift giving you the ability to get 3-vehicles in this garage."