A lease option is a popular contract used in real estate to acquire property with no money down. Essentially it is a rent-to-own program where you are leasing a property, with a right to purchase the property after an agreed upon time. For instance you can make a Lease Option state that after paying $1000/month to the landlord for 3 years, you are able to buy the property at the end of the 3 years for $200,000.
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