LEASE OPTION AGREEMENT
This Lease Option Agreement is made on [Insert Date] between:
(1) [SELLER FULL NAME], of [Seller’s Address] (hereinafter referred to as the “Seller”)
and
(2) [YOUR FULL NAME], of [Your Address] (hereinafter referred to as the “Buyer”)
WHEREAS:
A. The Seller is the legal owner of the property known as [Full Property Address] (“the Property”);
B. The Seller agrees to lease the Property to the Buyer and grants the Buyer the exclusive right to purchase the Property under the terms of this agreement.
IT IS AGREED:
1. **Lease Period**: The lease period shall begin on [Start Date] and continue for [Number] years.
2. **Monthly Payment**: The Buyer agrees to pay the Seller £[Amount] per calendar month during the lease period.
3. **Option to Purchase**: The Buyer shall have the exclusive right, but not the obligation, to purchase the Property for £[Purchase Price] any time during the lease period.
4. **Maintenance**: The Buyer shall be responsible for day-to-day maintenance; structural issues remain the Seller’s responsibility.
5. **Registration**: This Agreement shall be registered with the Land Registry via a Restriction or RX1 form.
6. **Assignment**: The Buyer may assign this agreement to a third party with written notice to the Seller.
7. **Governing Law**: This Agreement is governed by the laws of England and Wales.
Signed:
____________________ ____________________
Seller (Name) Buyer (Name)
Date: __________________ Date: __________________
HEADS OF TERMS – PROPERTY AGREEMENT
This document outlines the basic terms of agreement between:
Seller: [Seller Full Name], [Address]
Buyer: [Your Full Name], [Address]
Property: [Full Property Address]
Key Terms:
– Monthly Rent: £[Amount]
– Lease Term: [X] years
– Option Price: £[Amount]
– Upfront Option Fee: £[Amount or “None”]
– Start Date: [DD/MM/YYYY]
Notes:
– This is a non-binding document to confirm key terms before drafting formal contracts.
– Subject to contract.
Signed:
____________________ ____________________
Seller (Name) Buyer (Name)
Date: __________________ Date: __________________
ASSISTED SALE AGREEMENT
This Agreement is made on [Date] between:
(1) [Seller Name], of [Seller Address]
(2) [Your Name], of [Your Address]
Whereas:
The Seller owns the property at [Full Address] and agrees to allow the Buyer to assist in marketing, refurbishing, and selling the property for mutual benefit.
Terms:
1. The Buyer shall carry out and/or fund minor improvements at their own risk.
2. The Buyer shall market the property with the Seller’s consent.
3. Upon sale, the Seller agrees to pay the Buyer [X]% of the uplifted value above £[Base Price] or a fixed fee of £[Amount].
4. No ownership is transferred until resale.
5. The Seller agrees not to sell or lease the property to any third party during the agreement.
Signed:
____________________ ____________________
Seller (Name) Buyer (Name)
Date: __________________ Date: __________________
RENT-TO-RENT AGREEMENT
This Agreement is dated [Insert Date] and made between:
(1) [Landlord Full Name], of [Landlord Address] (“Landlord”)
(2) [Your Full Name], of [Your Address] (“Tenant”)
1. **Property**: [Full Property Address]
2. **Term**: [X] months/years from [Start Date]
3. **Monthly Rent**: £[Amount] paid on the [Day] of each month
4. **Purpose**: Tenant may sublet rooms in the Property under ASTs.
5. **Maintenance**: The Tenant is responsible for internal maintenance and letting.
6. **Profit**: Tenant keeps profit from subletting after paying rent to Landlord.
7. **Deposit**: [£0 or amount held in escrow]
Signatures:
____________________ ____________________
Landlord Tenant
Date: __________________ Date: __________________
LETTER OF AUTHORITY
To Whom It May Concern,
I, [Seller Full Name], of [Seller Address], hereby authorise [Your Full Name], of [Your Address], to communicate with my mortgage provider regarding the property located at:
[Full Property Address]
This authorisation permits the above-named person to:
– Request mortgage balances
– Request payment history
– Discuss options for monthly payments
This authorisation is valid until revoked in writing.
Signed:
___________________________
[Seller Full Name]
Date: [Insert Date]
