Oklahoma Lease to Own Agreement
The Oklahoma Lease-to-Own Agreement, often known as a Lease with Option to Purchase Agreement, is a legally-binding document that outlines the terms for both a standard property lease and the option for the tenant to buy the property from the landlord. To account for potential market fluctuations, the parties typically agree on a predetermined sale price for the eventual purchase of the property by the tenant.
This type of arrangement offers flexibility and benefits for both parties. Tenants can build their credit history and save for a down payment during the rental period, while property owners can secure a potential buyer and earn consistent rental income. By agreeing on a predetermined sale price, both parties can benefit from a fixed price, regardless of market changes during the lease term.