Missouri Lease Agreement with Option to Purchase

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The Missouri Lease Agreement with Option to Purchase will present the information necessary to document a property purchase as done through a lease agreement. Purchasing proper in this manner provides quite a few benefits both parties may enjoy if done properly. This is because both parties may enjoy some freedom from staunch requirements of a competitive real estate market. Though, each party will seek to pursue its own interest a fair exchange may be arranged. That is, in exchange for a slightly higher rent and a non-refundable fee the Seller/Lessor will grant the Buyer/Lessee the opportunity to live on the property they intend to purchase. Should the Buyer/Lessee not buy the property, the higher rent and consideration fee will compensate the Seller/Lessor for his or her time.

This contract form will contain nineteen sections. These will be divided by subject matters such as rent amount, purchase amount, terms and conditions, and necessary disclosures. Both parties should be in agreement upon the negotiable elements that are being set on paper and make sure to read and comprehend the entire document. Once the final lease contract is set then finalized by a signature, each party will be held responsible to live up to the obligations placed upon them.

How to Write

Step 1 – The first paragraph shall require Date of the Lease, the full name of the Seller/Landlord, and the full name of the Buyer/Tenant.

Step 2 – In the second paragraph, beginning with the word “Whereas,” enter the name of the County and City the property is located in on the blank spaces on the second line. Then enter the Street Address of the property being leased.

Step 3 – In the item labeled “Rent,” fill in the first two blank spaces with the yearly rate of rent (once written in words, the second entered numerically). Then enter the monthly rent that will be due on the next two blank spaces. On the third line locate the blank space preceding the word “day” then enter the calendar date of each month the monthly rent will be due. Finally, in the last two blank spaces of this section enter the security deposit amount the Seller/Lessor will require of the Buyer/Lessee.

Step 4 – In the item labeled “Utilities and Services,” list all of the utilities and/or services the Buyer/Lessee will be obligated to furnish the leased property for the duration of the lease in the first set of lines. Then in the second set of lines compose a list of utilities and or services the Seller/Lessor will be required to furnish the leased property for the duration of this lease. Note: At least one of these areas should be filled out thoroughly.

Step 5 – In the fourth item, titled “Option Term,” define the dates when the Buyer/Lessee may purchase the property. Enter the first Calendar Date the Buyer/Lessee may purchase the property on the first blank line. Then, on the second blank line, enter the last Calendar Date when the Buyer/Lessee may purchase the property.

Step 6 – The sixth item, or “Option Consideration,” report the full dollar amount the Buyer/Lessee will pay the Seller/Lessor on the first two blank spaces. On the next two blank spaces enter the portion of rent that shall count towards the purchase price as a credit. (The Seller/Lessor will keep these amounts if the Buyer/Lessee does not purchase the property or apply it as a credit at the time of purchase).

Step 7 – In the seventh item, “Purchase Price,” enter the full purchase price for the leased property if Buyer/Lessee wishes to purchase it. Then, on the second set of blank spaces, enter the monthly credit towards the purchase price the Seller/Lessor will afford the Buyer/Lessee at the time of purchase.

Step 8 – In the seventeenth item, “Governing Law and Venue,” enter the name of the Municipality that will hold jurisdiction over this lease and any purchase that may result.

Step 9 – In item nineteen, “Entire Agreement,” the Seller/Landlord, Buyer/Tenant, Agent, and Witness must all sign and print their names.