Washington Lease to Own Agreement
A rent-to-own (RTO) contract in Washington is an alternate solution for those who do not have the financial resources to buy the property they desire. This type of agreement allows the renter to initially lease the property and have the option to buy it at any point while they are living there. This type of contract is regulated under Washington Ch. 63.19. The exact terms and conditions of each contract will vary depending on the details, such as the duration of the agreement, the purchase price, and other terms agreed between the landlord and the tenant. Both parties in the contract should take care to understand all the terms and conditions laid out in the contract before signing.