Washington Residential Lease with Option to Purchase Form

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The Washington Residential Lease with Option to Purchase is a legally binding agreement between a landlord and tenant that begins as a lease with the option to purchase the property during the term of the agreement. Tenants should read the agreement carefully and agree to all of the terms. If a tenant feels they aren’t able to completely understand the agreement, they may wish to arrange a consultation with an attorney for a better understanding of the contract before signing.

How To Write

Step 1 – The Parties – Enter the following:

  • Date the document in dd/mm/yyyy format
  • Provide the Lessor’s name
  • Provide the amount that the Lessee is paying to the Lessor
  • Enter the City where the premises is located
  • Enter the County
  • The State
  • Provide a legal description of the property
  • Enter the street address and what it consists of

Step 2 – Personal Property –

  • Describe any personal property that will be included in the rental amount

Step 3 – Term – Provide the following:

  • Enter the date of the commencement of the agreement in dd/mm/yyyy format
  • Enter the number of months that the agreement will continue after the commencement date

Step 4 – Rent – Landlord must provide the following information:

  • Enter the amount of the rent to be due each month
  • Provide the address where the rental payment is to be delivered
  • Enter the late charge to be paid if the rent is past 5 days late
  • Enter interest charges, if any

Step 5 – Utilities – Landlord must specify:

  • The utilities that will be payable by the Lessee
  • Enter any exceptions or utilities that would be paid by the landlord

Step 6 – Titled Sections – Tenants must be responsible for reading and agreeing to all sections of the agreement to include the following:

  • Use
  • House Rules
  • Assignment and Subletting
  • Maintenance, Repairs or Alterations
  • Entry and Inspection
  • Possession
  • Security/Option Consideration
  • Deposit Funds
  • Attorney’s Fees
  • Notices
  • Heirs, Assigns, Successors
  • Time
  • Holding Over
  • Default
  • Option (Landlord must enter the purchase price and describe how the purchase price will be paid)
  • Encumbrances
  • Examination of Title
  • Evidence of Title
  • Bill of Sale
  • Closing (Landlord must enter how many days from exercising of option, the closing must take place)
  • Prorations
  • Expiration of Option (Landlord must enter an expiration date for the option)
  • Right to Sell

Step 7 – Signatures –

  • Provide Lessee’s Signature(s)
  • Lessee’s Address
  • AND
  • Lessor’s Signature(s)
  • Lessor’s Address