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Contracts Help

This page is organized into four sections as outlined below. To get help with the contract you're working on, simply scroll down to the appropriate section.

  • Section 1. Easy Offer System
  • Section 2. Lease 2 Purchase Contract (I am the Landlord/Seller)
    • Part A. Residential Lease Agreement
    • Part B. Residential Option to Purchase Agreement
  • Section 3. Lease 2 Purchase Contract (I am the Tenant/Buyer)
  • Section 4. Assignment of Lease 2 Purchase Agreement

Section 1. Easy Offer System

  • The Offer. Enter the date the offer was made, and the name, address and telephone number of both the Landlord/Seller and the Tenant/Buyer.
  • Deposit. Enter the option deposit amount you are offering to the Landlord/Seller.
  • Property. Enter the physical street address of the property, the county in which the property is located, and the state in which the property is located.
  • Terms. Enter (in order) the amount of the monthly rental payment, the length of the lease in months, the purchase price of the home, the option deposit amount, and the amount of the monthly rent credit.
  • Date the Option Expires. Enter the date the option expires.
  • Other Conditions. Any other important conditions not already included in your offer should be spelled out here. You typically can leave this blank unless you have special terms you would like to be enforced.
  • Contingencies. Your offer will be contingent upon, or "subject to" the items checked below. Neither you, nor the Landlord/Seller, will have an accepted offer until all of these contingencies are removed in writing. Use the "Removal of Specified Contingency(ies)" form to remove contingencies in writing.

Section 2. Lease 2 Purchase Contract (I am the Landlord/Seller)

Part A. Residential Lease Agreement

  • Paragraph 1. Enter (in order) the date the agreement was made, the name of the Landlord(s), the current address of the Landlord(s), the name of the Tenant(s), and the current address of the Tenant(s).
  • Paragraph 2. Enter (in order) the county in which the property is located, the state in which the property is located, and the physical street address of the property.
  • Paragraph 3. You may optionally enter the legal description of the property here. You can get the legal description from the Deed or the county courthouse.
    • Section 1. Lease Term. Enter (in order) the number of months for the lease term, the date the lease begins, the date the lease ends, the number of terms the Tenant may renew the lease, and the amount of consideration to be paid for this right to renew.
    • Section 2. Rent. Enter (in order) the amount of the monthly rental payment, the day of the month which payment is due, the day of the month the payment will be considered late.
    • Section 3. Security Deposit. Enter the security deposit amount here.
    • Section 4. Use. Enter (in order) the number of adults whom are to occupy the premises, the number of children whom are to occupy the premises, the names of the adults, and the names of the children.
    • Section 5. Pets. Enter the type of pets allowed on the premises along with their names. If no pets are allowed, state so.
    • Section 13. Default. Enter (in order) the day of the month rent is normally due under the lease, the day of the month the payment will be considered late (see Section 2 above), and the day of the month for which the lease will become incurably breached if the Tenant hasn't made their monthly rental payment. I usually give them five days after the payment is considered late.
  • Addendum. Use the addendum as necessary to cover any details not already covered in the agreement.

Part B. Residential Option to Purchase Agreement

  • Paragraph 1. If you are the Landlord/Seller (and you should be if you're using this form), you are the "Optionor" and the Tenant is the "Optionee."
  • Paragraph 3. Enter (in order) the date the agreement is effective, circle your method of interest in this property (if you're Lease 2 Purchasing it, circle "under option"), and enter the physical address of the property.
  • Paragraph 4. You may optionally enter the legal description of the property here. You can get the legal description from the Deed or the county courthouse.
  • Paragraph 5. Enter (in order) the date the option to purchase expires, the number of terms the Optionee may renew this agreement, and the amount of consideration the Optionee must pay for the right to renew.
    • Section 1. Purchase Price. Enter the agreed-upon purchase price of the home here.
    • Section 4, Paragraph 2. Enter the amount of the option deposit required by the Optionee.
    • Section 4, Paragraph 5. Enter (in order) the amount of monthly rent credit to be applied towards the purchase of the home, the day of the month the rental payment must be received in order to be eligible to apply towards the monthly rent credit, the day of the month after which no rental payments will be credited towards the monthly rent credit, and the day of the month for which the option will become incurably breached if the Tenant hasn't made the monthly rental payment.

Section 3. Lease 2 Purchase Contract (I am the Tenant/Buyer)

  • Paragraph 1. Enter (in order) the date the agreement was made, the name of the Landlord/Seller(s), the current address of the Landlord/Seller(s), the name of the Tenant/Buyer(s), and the current address of the Tenant/Buyer(s).
  • Paragraph 2. Enter (in order) the county in which the property is located, the state in which the property is located, and the physical street address of the property.
  • Paragraph 3. You may optionally enter the legal description of the property here. You can get the legal description from the Deed or the county courthouse.
  • Paragraph 4. Enter (in order) the number of months of the lease term, the date the lease will begin, the monthly rental amount, the day of the month for which rent is due, the amount of each monthly rental payment to be credited to you, the number of terms that you may renew the agreement, and the amount of money you will pay for the option to renew the agreement.
    • Section 1. Utilites. Circle the party responsible for paying the particular utility.
    • Section 5. Inspection. Enter any additional inspections you would like performed on the home prior to your taking possession. Conversely, if you're not interested in having any inspections done, strike it out on the agreement (put a line through it) and initial it. Finally, circle the party responsible for paying for the inspection(s).
    • Section 6. Insurance. Enter the amount of insurance the Landlord/Seller is to carry on the property. This number should closely resemble the amount of money it would take to rebuild the structure should something happen to it. Make sure to get a copy of the Landlord/Sellers' insurance policy for your records.
    • Section 9. Option to Purchase. Enter (in order) the number of months you will have to excercise your option to buy, the amount of option deposit you are giving the Landlord/Seller, and the terms by which you will be giving the option deposit. I usually just enter "cash at delivery" in the last blank, but if you've negotiated with the Landlord/Seller that you will give them a note for the option deposit, you would enter that information here.
    • Section 10. Purchase Price. Enter the purchase price of the home here.
    • Section 20. Construction and Venue. Enter (in order) the state in which the premises are located and the county in which the premises are located in.
    • Section 22. Effective Date. Enter the date that this agreement will become effective here. The date of signing the agreement will be sufficient unless you've agreed otherwise.
  • Addendum. Use the addendum as necessary to cover any details not already covered in the agreement.

Section 4. Assignment of Lease 2 Purchase Agreement

  • Paragraph 1. Enter (in order) the date the agreement was made, the name(s) of the Assignor(s) (you are the Assignor if you're assigning your interest in a Lease 2 Purchase agreement), and the name(s) of the Assignee(s).
  • Paragraph 2. Enter (in order) the date found on the Lease 2 Purchase agreement that you are assigning, whether you were the Landlord or the Tenant in that particular Lease 2 Purchase agreement, the physical address of the property, and the date this assignment agreement will become effective.

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