What is the difference between a lease with option to purchase and an option to purchase?

A lease with option to purchase and an option to purchase are two different types of legal agreements related to residential real estate in Washington. A lease with option to purchase gives tenants the option to purchase the property they are leasing after a certain period of time. This agreement outlines the terms of the lease and the purchase option. It requires tenants to pay rent during the lease period, as well as a fee to secure the right to purchase the property. An option to purchase is an agreement giving the tenant the right to purchase a property within a set period of time, usually at a predetermined price. The agreement often requires the tenant to pay a non-refundable fee to the property owner in exchange for the right to purchase the property. The key difference between a lease with option to purchase and an option to purchase is that the lease with option to purchase requires tenants to pay rent during the lease period, as well as a fee to secure the right to purchase the property, while an option to purchase does not require tenants to pay rent. Both types of agreements are important for residential real estate in Washington and can provide important protections for both tenants and property owners. It is important for both parties to understand the details of their agreement before signing.

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What is the difference between a lease with option to purchase and an option to purchase?

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