||Rent to own
||12/15/1999 12:16:00 AM
You will come close to following this fill in
the blanks format:
RENT TO OWN!
Twenty percent (20%) of all monthly rental
payments for up to twenty-four (24) months will apply
to the selling price of your new home
You must purchase your new________ Home while
you are a resident.
Only the previous consecutive twenty-four (24)
month rental periods will apply.
If there are other persons on the lease, each
person shall receive credit on their respective
The balance of damage deposit remaining after
any required costs have been paid may be applied
towards down payment.
Lessor will release Lessee from balance of the
term of the lease upon purchase of a new home from
Lessee must register for this program within
ninety (90) days from date of lease for program to be
retroactive to date of lease. Lessee may still register
for program after ninety (90) days: however, rent
credit will began accruing from date of registration.
Registering for program puts Lessee under no
obligation to buy a home and________________
_____________is under no obligation to make a home
available for purchase: however, the program will apply
to all homes in______________________'s inventory at
the time Lessee is ready to purchase.
Lessee is not represented by a real estate
No credit for rent, or refund of rent, shall be
given unless a formal sales agreement is executed with
_______________________ and a closing/settlement is
executed and purchase price paid.
This program is offered exclusively
through____________ Realty Services. There shall be no
corporate broker or fee paid. Lessee must meet all
normal loan qualifications.
||Partnership for Advancing
Technology in Housing (PATH)
451 7th Street, SW, Rm. 8134
Washington, DC 20410-0001
Telephone: 202 708-4277 Fax: 202 708-4250