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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"Spacious mobile in well-maintained park. Convenient to shopping. Mature trees, shaded lot, 2 storage sheds w/electricity. New H/W Heater, new light fixtures, some carpet replaced. auto sprinklers. Park approval required. Sold as is and priced to sell! Buyer to verify all information & square feet. Owner never occupied home."
"Great location on this great South Weber home. Plenty of parking, large backyard with deck off the master bedroom and a covered patio off the kitchen area. Updated kitchen with granite countertops, backlash, cabinets, and flooring. Spacious master bedroom and a second familyroom in the basement. Two furnaces & updated windows and doors. "
"Incredible open and bright space. Awesome M-I-L apartment upstairs, fabulous location and neighborhood, newer kitchen & bathrooms, new roof, great views, great yard with awesome partially complete toy garage/playhouse and fruit trees, workshop areas in garage and basement, some remodeling done, new upstairs furnace, 2 water heaters. Tons of potential and space!!! M-I-L is rented for $850/month. Please give 24 hr notice to show apt. Home can be shown anytime."
" Fabulous two-story sits on a spectacular 2.61 acre view lot in one of E. Layton's premier subdivisions! Set back from the cul-de sac, it boasts a semi-circular drive with stamped concrete and massive rock waterfall feature. Vaulted entry opens to formal living and dining rooms. Spacious kitchen has custom cabinetry and quartz counters. Huge great room with soaring ceiling and large windows to accentuate the view of lake and valley below. Main floor master suite is massive,with see-through FP, h"