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."
"REDUCED AGAIN 12-18-14!! PLUS $500 Bonus!! 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 Wash/Dry & Fridge included! EZ qualify"
"Great updated end-unit condo centrally located in Bountiful. Close to shopping, dining, schools and freeway. Enjoy the remodeled kitchen and spa-like bathroom. One of the few units with a W/D. Secure building with elevator. Information deemed reliable but buyer and buyers agent to verify all."
"SELLER MOTIVATED** Elevate Home Warranty Included in Purchase ** NEW CARPET INSTALLED ON 4/25/15. Built in 2010, this 2 bedroom 2 bathroom condo with full 2 car garage is clean, has a walk out balcony on the 2nd level, Private Patio in Front. Well Established HOA quiet community with play grounds, walking trails, two pools, two hot tubs, and a clubhouse with exercise equipment! Travertine tile in the kitchen, two tone paint, All Appliances Included in Sale. Close to the Frontrunner Station, a"
"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. Located close to Station Park Shopping & Entertainment Com"
"Sale failed due to buyers financing. Inspections complete. Great Bountiful location. Enjoy the quiet location and still be close to everything. Some updating including wiring and light fixtures, new tile, Rv parking, water softener, wood burning stove, updated bathroom. Secondary water is only $60 a year. Don't miss out on this incredible opportunity."
"NO SHOWINGS FROM 12:00 - 2:00. Fantastic area on East side of Kaysville. Walking distance to the Burton Elementary school. Nice quiet street. and private back yard. Nice Hard wood floors. Large family rooms this home will not disappoint! Must see."
"PRICE REDUCED! Large, beautiful home in excellent neighborhood. Master bedroom suite with private master bath, jetted tub, separate shower, walk-in closet. Daylight basement with theater room and large bedrooms. New paint, new light fixtures. Great location - near schools, churches, parks and major retail shopping."
"BEAUTIFUL RAMBLER WITH VAULTED CEILINGS, DECORATIVE ARCHES AND PLANT SHELVES. AMAZING LANDSCAPED YARD! NEW STAINLESS STEEL APPLIANCES. NEW VINYL FENCED YARD. HUGE RV PAD. BUYER TO VERIFY ALL INFORMATION. SQFT PER COUNTY RECORDS."
"Beautiful wooded property on a private stream and quiet cul-de-sac. Large open spaces inside and out. Open great room, extra large kitchen, huge master bedroom, 600 sq ft deck, and around 900 sq ft of storage space under garages (could be awesome theater). Mo-in-law kitchen with separate entrance. Could use new carpet and paint to be updated. Across street from rail trail."
"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"
"Huge Price Reduction!!! Beautiful Rambler Nestled in a Quiet Cul-de-Sac in East Layton! Views are amazing. The model home for the Chelemes Landing subdivision, so tons of extras. Open floor plan makes for comfortable living and it's perfect for entertaining. Features granite counter tops, intercom, central vac, stainless steel appliances, double ovens, gas range, built-ins, a full kitchen in the basement, and room for two more large bedrooms and a full bathroom in the basement. View the Tour to "
"HUGE REDUCTION!! GREAT VALUE! BEAUTIFULLY UPDATED AND REMODELED HOME IN UPSCALE SOMERSET FARMS. 753 SF MASTER SUITE WITH HUGE W/I CLOSET AND LUXURY BATH. NEW GOURMET KITCHEN INCL. HIGH END JENNAIR APPLIANCES, WARMING DRAWER, AMAZING CUSTOM CABINETRY, ISLAND, GORGEOUS GRANITE, 2 SINKS, MICROWAVE DRAWER, ETC. ENORMOUS GAME ROOM W/TRAVERTINE AND CHERRYWOOD FLOOR, HOME THEATER W/LOBBY, GENEROUS STORAGE ROOMS AND A PLACE FOR EVERYTHING. NEW DETACHED 3RD GARAGE, QUIET ENERGY EFFICIENT RADIANT HEAT W/6"
"Wonderful Syracuse property with plenty of space! Could be the perfect place for a home office, daycare, church or other unique home business opportunity. Nicely updated with four bedrooms and three and half baths. Spacious master suite with its own private patio. Attached 2-car garage plus additional detached 2-car garage. There is an additional 5262 finished SF (not included in listing SF!) in the detached garage including indoor basketball court, theater room, second kitchen, rec room and mor"
"Gorgeous views of the sunsets and valley along with the peace of the mountain living. Perfectly located in a quiet cul-de-sac. Home has space for all your needs plus high ceilings, large bedrooms, big laundry room with sink, folding counter, hanging rods, and tons of cabinets. Remarkable kitchen with pull-out drawers everywhere. It's almost like this home is brand new it's so clean."
"Simply unbelievable! Step inside this absolutely amazing custom home. Stunning arches, 14' wall heights the vault to grander ceiling volume, custom faux finish paint, massive mater suite with double sided fireplace. Walk out to the stunning back yard from 3 locations in the home (master, kitchen and basement). If it is entertaining you want there is no better home. The kitchen is a chefs delight and the basement kitchen/bar area is what everyone dreams of. The pool is a community feature "