Vermont Lease Agreement with Option to Purchase Form

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The Vermont Lease Agreement with Option to Purchase is a legal document that is designed to initially be a lease for a tenant who may not be prepared to purchase property but would be interested in purchasing in the near future. This agreement will provide an agreement whereas the tenant will have a window of time within the length of the lease to have an option to purchase when/if they decide they would be interested in doing so. The lease is equally as detailed as a regular rental agreement with a provision to purchase at a later date. Tenant(s) should read this agreement carefully. If it’s too complicated to understand they may choose to consult with an attorney.

How To Write

Step 1 – The parties – Enter the following information:

  • Date the document in mm/dd/yyyy format
  • Enter the name of the seller/landlord
  • Enter the name(s) of the buyer(s)/tenant(s)
  • Provide the county where the property is located
  • The City
  • Enter the physical address of the property

Step 2 – Rent – Landlord must enter the following:

  • Enter the annual amount of the rent that will be paid during the term of the agreement
  • Enter the amount of the monthly installments
  • Enter the day of each month that the rent payment will be due
  • Landlord must enter the amount of the security deposit

Step 3 – Utilities and Services – Provide the following information:

  • Landlord must specify the utilities and services that will be paid by the tenant
  • Landlord must specify the utilities and services they are willing to pay, if any

Step 4 – Titled Sections – Tenant(s) must read and agree to the remaining sections of the agreement as follows:

  • Notice Required to Excercise Option
  • Option Consideration (landlord must enter the amount of the non-refundable fee)
  • Purchase Price (landlord must enter the agreed purchase price as well as the amount from each rental payment that will be applied toward the purchase of the property)
  • Exclusivity of Option
  • Closing and Settlement
  • Financing Availability
  • Financing Disclaimer
  • Remedies Upon Default
  • Commission
  • Recording of Agreement
  • Acknowledgements
  • Entire Agreement

Step 5 – Signatures – Enter:

  • Seller(s)/Landlord(s) Signature(s)
  • Seller(s)/Landlord(s) Printed Names(s)
  • AND
  • Buyer(s)/Tenant(s) Signature(s)
  • Buyer(s)/Tenant(s) Printed Names
  • AND
  • Agent’s Signature
  • Agent’s Printed Name
  • AND
  • Witness’ Signature
  • Witness’ Printed Name

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