This package contains the forms that are necessary for sellers and purchasers to enter into a legally binding obligation to sell and purchase real property at the expiration of or during a lease term. In a lease purchase agreement, a party agrees to purchase a particular piece of real property within a certain timeframe, usually at a price determined beforehand. With this package, you will find the essential forms to assist you in successfully entering into and executing a commitment to purchase or sell real property. The documents in this package include the following:
1) Contract for Lease and Mandatory Purchase of Real Estate-Specific Performance Clause;
2) Contract for Lease and Purchase of Real Estate- Purchase by Date or Leave;
3) Personal Guaranty of Contract for the Lease and Purchase of Real Estate; and
4) Residential Real Estate Sales Disclosure Statement.
Purchase this package and save up to 30% over purchasing the forms separately!
A Broward Florida Lease Purchase Agreements Package is a comprehensive set of legal documents and contracts commonly used in Broward County, Florida, for facilitating lease-to-own agreements between landlords/sellers and tenants/buyers. These agreements offer an alternative path to homeownership for individuals who may not qualify for a traditional mortgage loan or wish to test a property before committing to a full purchase. Here are some essential components and types of Broward Florida Lease Purchase Agreements Packages: 1. Lease Purchase Agreement: The primary document in the package, it outlines the terms and conditions of the lease-to-own arrangement. It encompasses details such as the property's description, lease duration, monthly rent, purchase price, option fee, rent credit, and other important provisions. 2. Option to Purchase Agreement: This agreement grants the tenant/buyer the exclusive right, but not the obligation, to purchase the property at a predetermined price within a specified time frame. It typically requires payment of an option fee, which is often non-refundable and forms part of the buyer's down payment. 3. Rental Agreement: In the lease purchase package, there may be a standard rental agreement that incorporates the terms of the lease period before the purchase option takes effect. It covers typical rental aspects such as payment schedules, maintenance responsibilities, and termination conditions. 4. Home Inspection Report: An inspection report may be included to document the property's condition at the beginning of the lease purchase agreement. This report can protect both parties by establishing a baseline for the property's state and identifying any existing issues or defects. 5. Disclosures: Various disclosures may be included in the package to inform the tenant/buyer about vital information concerning the property. These may include disclosures related to lead-based paint, mold, property tax, homeowner association (HOA) fees, and other relevant matters. 6. Addendums and Amendments: Depending on specific circumstances, additional addendums and amendments can be included in the package to tailor the agreement to certain situations. Some examples may include provisions related to repairs, pets, or rental payment adjustments. 7. Legal Forms: The package may also include other legal forms and documents required by Broward County, Florida, such as a Tenant Estoppel Certificate or a Notice of Exercise of Option to Purchase. By utilizing a Broward Florida Lease Purchase Agreements Package, both landlords/sellers and tenants/buyers can have a clear understanding of their respective rights, responsibilities, and expectations throughout the lease-to-own process. It is advisable to consult with a qualified attorney or real estate professional to ensure compliance with applicable laws and to customize the package to the specific circumstances of each lease purchase agreement.
