Simply put, Lease with option is a form of rental agreement that has been modified so that there will be room for option to buy at the expiration of the lease term. Over the years, it has become a method commonly practiced with seller financing.
Lease option gives the seller opportunity to make substantial money by leasing their properties to interested party. The lessee will be paying a rent on the property monthly. Apart from that, the lessee will also be paying extra every other month and if he defaults, the seller can look for another person to lease out the property to, keeping all the profits that accruing from it
It is also possible to sub lease with option. This happens when you buy under lease option method and the purchase is far below the market price. Here, the property or real estate is sub lease to you with option.
Wherever option you take, it is pertinent to seek counsel before embarking on real estate investment. There are many terms you may not interpret correctly. So, the service of expert will save you all the trouble. Contact Mortgage Lenders USA today for proper guidance and correct interpretation of different mortgage and deeds terms.