Nebraska Lease Agreement with Option to Purchase Form

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The Nebraska Lease Agreement with Option to Purchase Form gives property owners with a difficult property to sell an opportunity to expand their search for buyers. This type of purchase also aids Buyer/Tenants who may not necessarily have stellar credit qualify to own property. Furthermore, both may be secure in the fact they will receive certain benefits unique to this type of lease they would not otherwise receive. For instance, a Buyer/Tenant may consider this a low risk trial run for a property or neighborhood while the Seller/Landlord will enjoy the additional income while seeking to sell the property. Of course, both will have certain consequences to these benefits. From the Buyer/Tenant’s side, he or she must pay an additional sum in rent as well as for the option to purchase the property.

The Seller/Landlord, meanwhile must invest the time in maintaining the property, like any other Landlord, and must agree to not sell the property to another party during the lifetime of this lease. These benefits and constraints must be carefully balanced through the negotiable terms to be entered in this form. Therefore, both parties should bring their best to the negotiation table as each will have to invest a significant amount of time and money in order to bypass the stiff requirements of today’s real estate market.

How to Write

Step 1 – The first paragraph shall require several pieces of information. The first is the Date of the Agreement, enter the Day, Month, and Year this lease is being signed in the blank space on the second line. In the spaces on the third and fourth lines, write in the Sell/Landlord’s Name then, the Buyer/Tenant’s name.

Step 2 – The second paragraph will also require some attention before we can cover the lease’s terms and conditions. Here, report the County and City this property is located in on the two blank spaces on the second line. Then, in the blank space starting on the third line, enter the Street Address of the Property. Once this is done, proceed to the first item of the agreement.

Step 3 – Item 1. Rent: Add up the total of all the rent payments the Buyer/Tenant shall make for the during the time this lease applies. Enter this amount on the first and second spaces in this paragraph. On the third and fourth blank spaces report the amount each monthly rent payment the Buyer the Buyer/Tenant must make during this lease. Next on the last two blank spaces, enter the amount the Seller/Landlord requires as a Security Deposit.

Step 4 – Item 2. Utilities and Services: There are two paragraphs here. The first will need the utilities and services the Buyer/Tenant for the property during the lease. Similarly, the second paragraph will require the utilities and services the Seller/Landlord will furnish the property during this lease’s period of effect.

Step 5 – Item 4. Option Term: Document the first day this agreement activates on the first blank line. Then on the second blank line, enter the last day this lease will have any binding power.

Step 6 – Item 6. Option Consideration: In this section, write in the dollar amount the Buyer/Tenant must pay for the privilege of buying the property through this lease if he/she chooses to.

Step 7 – Item 7. Purchase Price: The two spaces on the second line, in this paragraph, require the full purchase price the Buyer/Tenant must pay the Seller/Landlord to transfer ownership of the property. Then on the next two blank spaces, define the portion from Buyer/Seller payments the Seller/Landlord will apply as a credit to the purchase of the property.

Step 8 – Item 17. Governing Law and Venue: enter the County that has jurisdiction over the purchase of this property and charged with enforcing the lease if necessary.

Step 9 – Item 19. Entire Agreement: This section shall bind each party to each other and the property through this agreement. This is done once all the parties involved sign this lease. There will be two signature lines in the first area. Each Seller/Landlord participating in this agreement must sign in this area. Similarly, there will be two signature lines available so that each participating Buyer/Tenant sign and print their names as well. The Seller/Landlords and Buyer/Tenants must sign this contract for it to apply. The last two areas will allow for one Agent and one Witness to sign and print their names. In truth this agreement may be entered by more participants. If so, then have these individuals sign and print their names as well.