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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"Beautiful custom blt rambler on 7 acres.40 X 60 shop, Home features 6 inch exterior walls, 10 ft high ceilings. Vaulted ceiling in Great R, Cental Vac/Crown Molding/Energy efficient appliances, furance & water heater. Walk in safe, mother in law apartment with outside basement entrance. Fire sprinkler system, custom front door. Possibility of dividing into additional lots. NO HOA's , Too many extras to mention, This homes only has 1 very large bedroom on the main floor, all the other bedrooms are in the basement. Great country living. ATV & horse trails that can be accessed from the house. Rm for Moto Cross track/ Owner/Agent"
"Heavenly Estate nestled in Alpine Cove. Spectacular mountain vistas coupled with soaring panoramic Utah Valley views. Quiet and peaceful location built on two lots, 1.85 acres, large enough for animals/horses. Property is tastefully fenced, plenty of lawn for kids to play football or soccer, built-in BBQ, sports court and a beautiful 250' cascading waterfall. Adjacent to the city's mountain park and very close to mountain biking and hiking trails accessing thousands of acres of open space. This custom designed and built home has absolute luxury and decor. It is fully finished with the finest of materials with every bedroom having its own bath. The floor to ceiling windows are designed to capture the magnificent views. Stunning entrance like unto the state capital rotunda flowing into living room with 12' to 20' murals on the walls and ceiling. Flooring is a beautiful imported marble, American Cherry wood and granite. Main floor master, sophisticated den and gourmet kitchen with American cherrywood cabinets and large living spaces. The den is one of the most stunning features of the home with its rich cherry wood paneling and views of the valley. There is a magnificent circular staircase that descends to the downstairs from the entry and there you will find 10' high basement ceilings, large family room/theater room, a full kitchen, a safe room, storage and spacious daylight bedrooms with baths. Luxury abounds throughout. An absolute must see."
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 Parcel # 16-033-0029 109.69 acres total of 185.33 acres call for an appointment. Price reduced! This is a great opportunity to own one of the most amazing properties in Utah. "