[WSBARP] Lease purchase agreements

[Peter Crocker]

Listmates,
I'm trying to conceptualize one aspect of lease purchase agreements, or
rent-to-own options. A portion of the tenant/potential buyer's monthly
payments is to be considered as going towards a down payment. Am I correct
that the seller credits that money at the time of purchase by applying it
towards the purchase price? And the seller would typically still have to
provide the bank with a separate down payment in order to get a loan?

Sincerely,
Peter

Law Office of Peter Crocker, PLLC
210 Polk St., Ste. 6A
Port Townsend, WA 98368
peter at petercrockerlaw.com
360-344-8474

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