A lease option (is different than a lease purchase, a lease purchase binds both parties to the sale[citation needed], where in a lease option the buyer has the option but the seller doesn't) is the abbreviated form of the appropriate term “Lease With the Option to Purchase”. It is a type of contract used in both residential and commercial real estate.
via en.wikipedia.org
At a recent conference, we noted that this would most likely be the way to go for the higher priced properties in London, in comparison to the rest of the country. Investors are buying property in the 45-100k range outside of London, even in our humble street in North London, you are easily looking at 300k for a simple two up two down.
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