Lease Purchase Homes for Sale

A lease purchase contract (is not the same as a lease option contract, in a lease option the buyer/tenant does not have to purchase the Property they can exercise the option or not it is totally up to the buyer at the end of the contract period) is the short form or abbreviated form of the correct term "lease with option to purchase contract." It is a form of real estate purchase which combines elements of a traditional rental agreement with an exclusive option of right of first refusal to later purchase the home.- The benefit for the seller is a higher selling price and for the buyer to hold a price down until which time they feel they can obtain financing or wish to purchase Home or Property. See below Listing for more information

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121 Properties Found. Showing Page 1 of 13
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Beautiful Farm With Stocked Lake And Stocked Pond Fenced...

$1,312,240
Wilsonville, AL
4 br, 2 ba Residential
Price:
$1,312,240
City:
Wilsonville
Beds:
4
Baths:
2
Type:
Residential
MLS® #:
462823
Provider:
Land & Home Realty Inc

Beautiful Farm With Stocked Lake And Stocked Pond Fenced And Cross Fenced, 2 Barns, Extra Large Air Plane...

Photo of Listing #462823

Wonderful Custom Built Home Located On 1.5+ Acre Cul...

$1,185,000
Mountain Brook, AL
5 br, 6 ba Residential
Price:
$1,185,000
City:
Mountain Brook
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
469780
Provider:
Lah Real Estate, Inc.

Wonderful Custom Built Home Located On 1.5+ Acre Cul De Sac Lot. Built In 1997 This Brick Two Story Has...

Photo of Listing #469780

Hurry!!! For A Linited Time The Builder Is Offering...

$1,099,000
Mountain Brook, AL
5 br, 4½ ba Residential
Price:
$1,099,000
City:
Mountain Brook
Beds:
5
Baths:
Type:
Residential
MLS® #:
470615
Provider:
Re/max Advantage

Hurry!!! For A Linited Time The Builder Is Offering A "no Haggle Price" For This Amazing New Mountain...

Photo of Listing #470615

Incredible Deal!! 4783 Square Ft Per Tax Records. ...

$980,000
Mountain Brook, AL
4 br, 4½ ba Residential
Price:
$980,000
City:
Mountain Brook
Beds:
4
Baths:
Type:
Residential
MLS® #:
461647
Provider:
Realtysouth-inverness Office

Incredible Deal!! 4783 Square Ft Per Tax Records. Beautiful Views From Porch, Patio Or Either Of 2 Balconies....

Photo of Listing #461647

House Just Remodeled Including All New Appliances,...

$679,000
Hoover, AL
4 br, 4½ ba Residential
Price:
$679,000
City:
Hoover
Beds:
4
Baths:
Type:
Residential
MLS® #:
423884
Provider:
Prudential South O'town Realty

House Just Remodeled Including All New Appliances, Most Of Carpet, Hardwoods Redone, Painted, Den/media...

Photo of Listing #423884

Beautiful Home Built By Fred Jones And Landscaped By...

$559,000
Mountain Brook, AL
3 br, 3½ ba Residential
Price:
$559,000
City:
Mountain Brook
Beds:
3
Baths:
Type:
Residential
MLS® #:
449886
Provider:
Realtysouth-mb-cahaba Rd

Beautiful Home Built By Fred Jones And Landscaped By Beatty Hanna. Gated Entry With Guard. Newly Renovated...

Photo of Listing #449886

Fabulous Home In Prestigious Wynwood Lakes With A Gourmet...

$459,400
Trussville, AL
4 br, 3½ ba Residential
Price:
$459,400
City:
Trussville
Beds:
4
Baths:
Type:
Residential
MLS® #:
455161
Provider:
Realtysouth-trussville Office

Fabulous Home In Prestigious Wynwood Lakes With A Gourmet Kitchen Featuring Beautiful Cabinets, Granite...

Photo of Listing #455161

Hoover Schools/shelby County Taxes.southern Living...

$449,900
Helena, AL
5 br, 6½ ba Residential
Price:
$449,900
City:
Helena
Beds:
5
Baths:
Type:
Residential
MLS® #:
461555
Provider:
Re/max Advantage

Hoover Schools/shelby County Taxes.southern Living Floor Plan And Former Parade Of Homes Winner. So...

Photo of Listing #461555

 

These contracts are commonly and most often used where a buyer wants to purchase a home or property, but due to credit issues or income limitations would not qualify for a conventional mortgage and does not wish to, or would not qualify, for FHA or VA financing. Note as a strong recommendation I would advise all seller's to require a buyer to enter a trusted credit repair program

Under most terms, the tenant/buyer chooses the home and seeks a landlord/seller to serve as an investor or buys a property strictly advertised as a Lease Option with is different from a  Lease Purchase. The tenant/buyer then agree to a lease for a period (typically 12 to 24 months put can be longer), during or after which the tenant/buyer has the exclusive right to purchase the home at a previously agreed-upon price. The tenant/buyer pays to the landlord/seller a non-refundable option deposit up front that is applied to the purchase price of the home. The tenant/buyer then pays to the landlord/seller a pre determined amount that is typical to the rental amount usually on a monthly basis, of which a small portion of that monthly payment may or may not be applied to the purchase price of the home or property, but which normally covers the monthly obligation amount owed by the landlord/seller.

Should by chase the tenant/buyer not wish or be unable to purchase the Property, the tenant and landlord can agree to extend the option period or change the terms, convert the lease option/purchase contract into a traditional rental agreement, or end the contract with the tenant moving out and losing all payment paid and the landlord seeking other buyers.

Lease purchase and lease option could be considered different where a lease purchase uses a purchase agreement and a lease option may not and an option is a unilateral contract and a purchase agreement is typically a bilateral contract.

If you would like to learn more about a lease option or a lease purchase please contact one of our Executives or use the Lease Application.