A Different Path to Homeownership

A lease option combines a rental agreement with a separate option giving you the right to purchase the property during an agreed period and under agreed terms. You are not automatically required to purchase the home.

The terms are sometimes used interchangeably, but the agreements can be structured differently. Circle G uses written lease and option agreements that establish the rental terms, option period, purchase terms, and responsibilities of each party.

Not necessarily. Whether any rent credit applies depends on the specific agreement. Any credits, option consideration, purchase terms, and other financial provisions will be established in writing before the agreement begins.

Not necessarily, but you should have a realistic path toward completing the purchase. If financing will be needed, obtaining that financing remains the responsibility of the buyer and is not guaranteed by entering into a lease option.

You have the right to purchase according to the option agreement, but you are not required to exercise that option. What happens to option consideration, credits, the lease, and possession of the property is governed by the agreements.

No. Circle G considers lease options selectively based on the property, circumstances, and proposed structure. Some homes may be offered only as traditional rentals or sales.

Typically, an upfront option payment is nonrefundable, even if you decide not to purchase the home. This payment secures your right to buy the property under the agreed terms during the option period.In some agreements, the option payment may be credited toward the purchase price if you complete the purchase.Every agreement is different. Before signing, make sure you understand how much you're paying, whether any portion applies toward the purchase, and what happens to that money if you don't buy.At Circle G, we believe those details should be clear before you make a commitment.