The Kansas rent to own agreement proclaims the facts regarding the rental of a home with an extended offer to allow the tenant to purchase when the rental contract ends. In some cases, a homeowner may want to sell the property to an individual that may require more time before a purchase is a possibility. In these situations, an advisable option can be a lease to own agreement. The paperwork delves into the terms associated with the lease of the residence for a designated time. It then stipulates specifics on an option to buy at the termination of the leasing period.
A separate section of the contract designates the first right of refusal granted to the tenant and establishes the purchase price for acceptance as well as the expiration date of the offer. The document additionally allows for a fee to be set at the time of signing should the landlord wish to charge an amount to issue the offer to buy. After negotiations, the provisions to the arrangement can be crafted and filled into the paperwork on an as-needed basis to cater to the needs of both parties in the transaction. Once the lessor and lessee have come to a mutual understanding, they can sign and date the form to solidify the bond.