South Carolina Lease Agreement with Option to Buy

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The South Carolina Lease Agreement with Option to Buy is a legal document that will begin as a rental lease between the landlord and tenant, offering the tenant a window in which they may choose to purchase the property. The document will clarify all of the terms and conditions pertaining to the use of a residential property as a rental. In addition, the document will offer explanation as to how the purchase option will be used. This document will detail all information needed in writing for all parties involved.

The tenant(s) must carefully review this document or if it’s discovered that they’re not completely clear with the language, they may wish to consult with an attorney for guidance.

How To Write

Step 1 – Download the document – enter the following:

  • Enter the date in which the agreement is being made in mm/dd/yyyy format
  • Provide the name of the Seller/Landlord
  • Provide the name of the Buyer/Tenant
  • Enter the County where the property is situated
  • The Street Address of the property

Step 2 – Rent – Landlord must complete the following:

  • Enter the amount of the rent
  • Enter the day of each month when the rent is due
  • Enter the amount of the Security Deposit

Step 3 – Utilities and Services – Enter:

  • Utilities that tenant will be responsible to pay on time each month
  • Landlord must enter any utilities or services they will be responsible during the rental phase of the process
  • Both shall read the remainder of the section
  • Landlord must then enter the option term commencement in mm/dd/yyyy format
  • Enter the expiration of the offer in mm/dd/yyyy format

Step 4 – Titled Sections – Tenants must read and agree to all titled sections of the contract as follows:

  • Notice Required to Exercise Option
  • Optional Consideration (landlord must enter the nonrefundable fee to be paid during the option period
  • Purchase Price (must be agreed prior to signing the document- enter the price – enter the amount of the rent that will be applied to the price of purchase at closing
  • Exclusivity of Option
  • Closing and Settlement
  • Financing Availability
  • Financing Disclaimer
  • Remedies Upon Default
  • Commission
  • Recording of Agreement
  • Acknowledgements
  • Timing
  • Governing of Law and Venue
  • Option to Purchase Controlling
  • Entire Agreement

Step 5 – Signatures – Provide the following:

  • Seller(s)/Landlord(s) Signatures
  • Print Name(s)
  • AND
  • Buyer/Tenant(s) Signatures
  • Print Name(s)
  • AND
  • Agent’s Signature
  • Print Name
  • AND
  • Witness’ Signature
  • Print Name