A lease purchase can also be defined as a plan which allows you to lease a home, with the ability to purchase it with-in a set period of time. The time frame will usually be in the first three years and the price will be agreed upon in the agreement signing in the commencement. There is a down payment which will be required in the commencement, which is usually in between 1% and 5%. The buyer will be paying a rent and a rent premium to control the purchase. This type of a deal can be made so that the buyer/seller will profit.

Should I Rent or Buy?

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