Lease Option Agreement Memo

First Name Last Name , hereafter known as “Seller,” will allow Toby Hanson, hereafter known as “Buyer,” to lease option the property at: Address

City State Zip

Purchase price to be: $ (Note: It doesn’t matter much to me what price you put in here… We can probably get you market value, however, if you price it too high we may be unable to find a buyer)

Term of Lease Option to be: (Note: (Note: Usually 1-3 years)

Monthly Lease Payment to be: $ paid monthly in advance, starting the day the Tenant moves in. (Usually Mortgage payment or market rent)

The term of the Lease Option to begin as soon as Buyer acquires a Lease Option Tenant for property.

This Lease Option Agreement Memo will be assigned by Buyer to a new Lease Option Tenant.

Seller has the right to approve new Lease Option Tenant.

Seller may use the Buyer’s Lease Option Agreement forms or may use a form that Seller chooses when Tenant Buyer moves in.

Seller may cancel this agreement at any time if they find their own tenant or decide not to sell. Buyer’s intention is to find a Lease Option Tenant and assign this Lease Option Agreement Memo to that Lease Option Tenant for a fee. Lease Option Tenant will then pay Seller the monthly lease amount until they exercise their option or until they end the option term.

Seller agrees to allow Buyer to put a sign in the yard, advertising the property for sale. If Buyer does not acquire a Lease Option Tenant to assign this deal to within 90 days of acceptance of this Lease Option Agreement Memo, this memo becomes null and void.

Important Disclosure: BUYER IS THE PRINCIPAL IN THIS TRANSACTION AND IS NOT A LICENSED REAL ESTATE AGENT. BUYER DOES NOT REPRESENT ANYONE IN THIS TRANSACTION BUT THEMSELVES.

Enter your primary email address

Enter your daytime phone number

Enter your evening phone number

Checkmark this box to show your acceptance of this agreement and that you have the right to make this agreement. Clicking the “I Agree” button acts as your electronic signature.