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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"Great property out in the country on the south side of Utah lake, in the area called "Lake Shore". Plenty of room for horse and cattle on this 5 acre lot. House has wood burning fireplace with an open and uncovered trexboard deck in the back of the house. Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement."
"Great to be built plan on this lot with tons of potential in one of Lehi's most popular areas. The neighborhood is nearly sold out. Great open concept rambler with 3 bedrooms and 2 baths. Great time to come customize your home from the ground up. Get standard - granite counter tops in kitchen and both bathrooms, tile and hardwood floors, 3 tone paint and more. This new home qualifies for down payment assistance and local grant programs! Call us for details! See agent remarks for lease option te"
"All new paint and flooring. Great open rooms for family gatherings, parties, and entertaining. Master on main. Beautifully landscaped yard. Large shop and extra garage. Quiet neighborhood. Available for showings on March 30th, after improvements have been completed. Buyer to verify all information."
"SALE FAILED: Price just reduced for a quick sale! Lowest price per sq ft in the area. Immaculate home in the exclusive Triple Crown neighborhood! The grounds are private, and beautifully landscaped. A large covered patio on the back of the home provides breathtaking, unobstructed mountain views. This home boasts a large open floor plan. The gourmet kitchen offers the finest of finishes including high end granite, double ovens, built-in microwave and refrigerator/freezer, large gas cooktop, 2 p"
"Nestled against the mountain in Alpine, this classic 2 story all brick home opens up from the elegant entry to offer fabulous views, and spacious comfort everywhere you turn. Gracious space on main floor for living, formal dining, family room, and huge office. Bedrooms are up, and downstairs offers a huge family room separated from the 2 bedroom 1 bath Accessory apartment. The yard has mature trees, and the home is well maintained. Come enjoy all the comforts Alpine has to offer."
"Magnificent secluded stone and timber river house located in the beautiful Sundance Resort. The ambiance of the Sundance spirit is reflected throughout four levels of artistic mastery in every detail. Enjoy the peaceful sounds of the glacial river running through the back of the home, while taking in the stunning mountain views of the Timpanogos. Live the experience at Sundance, with world-class skiing, hiking, biking, incredible restaurants and art culture. Quick and convenient 30-minute drive "
8272 E LEFT HAND FORK HOBBLE CREEK, Springville UT 84663
"Exquisite! Extrordinary! Amazing! Outstanding!, These are all terms that have been used to describe this Mansion nestled beneath the Utah Wasatch range. Beautiful Imported materials, Indoor swimming pool with slides, water fall, lazy river and hot tub. Movie Theater, Bowling alley, Indoor shooting area, Indoor basketball court and meeting area, elevator, heated drive, outdoor lighting, and so much more it is too much to mention. Includes Parcel # 16-033-0031 75.64 and Home also included is Parce"