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 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."
"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"
"6/9/2015 - Another 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 still more room for two large bedrooms and a full bathroom in the ba"
"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 "