Oregon Lease with Option to Purchase Form

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The Oregon Lease with Option to Purchase is a legal document that is designed to initially provide a lease to the buyer/lessee by the lessor/seller but will offer the buyer/lessee a window of time during the lease period whereas they will have an option to purchase the property they are leasing, at that time

This document may be used to clarify all terms and conditions regarding the residential property. This document will act as a lease as it will outline all the monthly payment information and any responsibilities to be assumed by both the lessor/seller and the lessee/buyer. In addition, the document will offer explanation with regard to  how the purchase option will work.

If the lesse(s) decide this would be an appropriate situation for them, then it is strongly recommended that a thorough and careful review of this document be conducted by all parties involved. If the tenant(s) find that it’s too difficult to decipher, they should consider a consultation with an attorney that specializes in translation of real estate legalese, to ensure that there is a clear understanding prior to signing the document.

How To Write

Step 1 – Download the document- Provide:

  • Begin by dating the document in mm/dd/yyyy format
  • Enter the name of the Seller/Lessor
  • Enter the name(s) of the Buyer(s)/Lessee(s)
  • Enter the county where the property is situated
  • Enter the City
  • Enter the physical street address

Step 2 – Rent – Landlord must enter:

  • Enter the total annual amount of rent
  • Enter the monthly rental amount
  • Enter the amount of the security deposit to be paid at the commencement and signing of the document

Step 3 – Utilities and Services –

  • Enter the utilities and service for which the lessee(s) will be responsible
  • Enter the utilities and services (if any) for which the landlord will be responsible
  • The lessee(s) must review the remainder of this section along with the any further lessee/lessor agreements (A through G)

Step 4 – Option Term – Enter the following information

  • Enter the commencement date of the offer in mm/dd/yyyy format
  • Enter the expiration date of the offer in mm/dd/yyyy format

Step 5 – Notice Required to Exercise Option –

  • The Lessee(s) will be required to provide written notice and pay a nonrefundable fee in order to exercise this option
  • Lessor must enter this amount into this section
  • The purchase price shall be established at the amount agreed upon and stated under the Purchase Price section of the document
  • Enter the agreed percentage of the monthly rent paid by the lessee, that the landlord is willing to put toward the price of the property should the tenant(s) decide to purchase

Step 6 – Titled Sections – Tenant(s) must read all of the following information as follows:

  • Exclusivity of Option
  • Closing and Settlement
  • Financing Availability
  • Financing Disclaimer
  • Remedies for Default
  • Commission
  • Recording of Agreement
  • Acknowledgements
  • Timing
  • Governing Law and Venue (enter the county where any disputes will be settled)
  • Option to Purchase Controlling
  • Entire Agreement

Step 7 – Signatures

  • Seller/Lessor’s Signature
  • Printed Name
  • AND
  • Buyer(s)/lessee(s) Signature(s)
  • Printed Names
  • AND
  • Agent’s Signature
  • Printed Name
  • AND
  • Witness’ Signature
  • Printed Name