Lease Purchase – A contract between a tenant and an owner by which part of the monthly rent payments may go toward down payment on the property. When pre-determined sufficient funds are received by the seller, the buyer may seek a first mortgage through a typical lender or in some cases with the seller.
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- Word-Of-The-Day: Lease Purchase
Word-Of-The-Day: Lease Purchase
Written by Armeshica Guice on . Posted in Uncategorized
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