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 nonrefundable 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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"Incredible Custom Home, attention to every detail, truly the master's touch in design and craftsmanship. Master suite featuring a fireplace, walk-in closet and spa master bath w/ private doors leading to courtyard. Gourmet kitchen features granite countertops, double ovens and custom appliances. 2 Great rooms, game room, library/office and Mother-in-law apartment."
"2880 Sq Ft rambler, 5 Bedrooms, 3 full Baths. 4 minute drive to Hill AFB. Kitchen & laundry appliances included. New carpet and tile through-out. Large master bedroom with walk-in closet; bath with soaker tub & separate glass shower unit. 2 Car garage; trek deck. Water, sewage, trash pick-up, & lawn care covered in HOA fee. VA Home loan guarantee program available for military members. Playground on site, shopping center & restaurants nearby. Please NO texts or emails to schedul"
"East Layton Living with large solar heated 25x40 indoor pool! Gorgeous PUD common areas with views of stream and pond directly in from of home. Beautiful gardens. Great floor plan with Mother-in-law basement. Great lighting and tons of storage. Clean and Beautiful home!"
"Large home in syracuse. Remodeled, new paint and new carpet. Quiet street in nice newer subdivison. Vaulted ceilings, Big kitchen with lots of counter space. 5 Big bedrooms 3 bathrooms with large master bath. This home is a must see!! Square footage figures are provided as a courtesy estimate only and was obtained from county record Buyer is advised to obtain an independent measurement."
"All info per co rcrds, buyer/agent 2 verify all info. 4 Heat/AC zones, granite, maple cab, travertine, stair lights, built-in speakers, insulated 3 car gar, XL jet tub inmaster, 2-40 gal H2O, plantation shutters, recessed lighting, RV Pad, Covered Patio!"
"Not a short sale or Bank owned! Beautiful remodeled home condo with all the upgrades. 2nd floor unit extremely clean, large rooms, custom curtains with Hunter Douglas Blinds, gas fireplace, tile floors & carpet. One owner comes with home warranty. HOA includes cable, sewer, garbage, exercise room, clubhouse, swimming pool and tennis court."
"BRAND NEW CARPET, PAINT, BATHROOM, FURNACE AND ROOF. great park. small yard allowing you to have a small garden. park fee is $360 per month including water, sewer + garbage. shed. covered porch. hardwood floors. really nice unit. serious seller. buyer to verify all detail."
"Highly sought after neighborhood. Amazing view of the mountains and the commute to downtown Salt Lake City is just minutes. The best thing about this real estate is the variance that was granted by the city for the homeowner to operate a business, legally. There are two shops totaling over 3,000 sq ft which the seller built and is currently running his cabinet business. A buyer can benefit from the same variance as long as the new business is similar in nature and they apply for the license and "
"Investment Property, Leased until March 31, 2014. This is a beautifully remodeled 3 bedroom home. New carpet, bamboo, tile flooring and granite counters. New furnace, ac and on demand water heater. Both front and back yards have been re-landscaped. Great views, both to the valley and mountains."
"GORGEOUS CUSTOM BRICK RAMBLER!* BEAUTIFUL KNOTTY ALDER KITCHEN W/ISLAND & GRANITE COUNTERTOPS* HARDWOOD FLOORS* VALLEY VIEW* LARGE DECK* LOVELY ROOM BY THE FRONT DOOR FOR FORMAL DINING OR LIVING ROOM* LARGE THEATRE/FAMILY ROOM W/BASEMENT ENTRANCE* FANTASTIC MOTHER-IN-LAW APARTMENT W/PRIVATE ENTRANCE (INCLUDES: 1 BEDROOM, 1 1/2 BATHS, LAUNDRY, FULL KITCHEN W/RANGE, MICROWAVE, DISHWASHER, DISPOSAL & PANTRY). WONDERFUL AREA AND CONVENIENT LOCATION!"
"Beautiful Custom Home with every extra you can imagine! 100% finished w/theater room, and 2 full kitchens. Master suite to die for! Professionally landscaped, and move in ready. This home is truly a masterpiece - make it yours TODAY!! Sq. ft. per county records."
"Seller Finance available with Large down Payment OAC. This is a beautifully decorated home, All brick with a long lasting tile roof. The updated kitchen has granite countertops. The grand entry staircase is complemented with a 2nd full stairway. Master bedroom suite has, fireplace, walk in closet, Large jetted tub and walk in shower with big bench. This home is a must SEE! Sq ft from county records; Buyer is advised to obtain an independent measurement."
"*AMAZING LUXURY HOME! *DESIGNED & BUILT BY NED/LORRAINE GILES & RENOWNED C.D. MARTINEAU HOMES *SITUATED ON AN ACRE LOT AT THE END OF A CUL-DE-SAC *PRIVATE LOCATION BORDERED BY A WOODED DRAW WITH A STREAM ON THE NORTH & OPEN SERENE PASTURE/ORCHARD ON THE SOUTH *ELEGANT & FUNCTIONAL FLOOR PLAN *HIGH END FINISHES THROUGHOUT *ENERGY EFFICIENT 2x6 WALLS *TOP OF THE LINE MARTIN WINDOWS (LIFETIME WARRANTY) *COMPOSITE BAR TILE ROOF (LIFETIME WARRANTY) *CLEAR OAK HARDWOOD FLOORS *INDOOR "
"15K Price Reduction! Electricians Home! So the home is nice with can-lighting & updated electrical throughout! Water softener stays! Large Jetted tub in master. Only unit to have an island put in kitchen! Huge basement family room! Gorgeous frieze carpet throughout. Grand master bath w/jetted-tub & separate shower. Upgraded knotty alder cabinets, stainless steel appliances & the fridge stays! Secluded yard w/shady patio! New 3-tone paint throughout. Adult height vanities throughout. "