Wyoming Lease to Own Agreement
A rent-to-own contract specific to Wyoming generally follows the standard rules of purchase contracts found in many other states. Under such a contract, the purchaser typically pays a down payment of the purchase price plus a rental fee. The rental fee is typically the same as rent for an apartment and is paid monthly. Typically, the contract states that the renter has the right to purchase the property at a predetermined price after a specified period. These contracts help insulate the renter from sudden price increases during the contract period, as the purchase price is usually set in the beginning. Additionally, the purchase is usually free of any inspection requirements, making it a more attractive option for buyers trying to finance a dream home.