: This is an upfront, typically non-refundable payment (often 2% to 7% of the purchase price) that grants you the exclusive right to buy the home. If you choose not to buy, you lose this money.

: Unlike a standard rental, many lease-option agreements shift the responsibility for repairs and maintenance to the tenant to prepare them for homeownership. Critical Florida Legal Requirements Lease-Option Purchases - National Association of REALTORS®

When entering into this agreement in Sanford, you should expect the following primary elements:

: The sale price is usually established at the start of the lease. This protects you if Sanford property values rise during your tenancy, though it may be higher than current market value to account for future appreciation.