What Is a Lease-Option Agreement?A lease-option agreement is a creative strategy that allows homeowners to sell their property by offering a potential buyer the opportunity to lease the home for a specified period, with the option to purchase it at the end of the lease term. This arrangement combines a standard lease agreement with a separate option-to-purchase contract. It’s an ideal solution in slower markets or for sellers looking to attract buyers who may not yet qualify for a traditional mortgage. How the Process WorksIn a lease-option setup, the seller and tenant-buyer agree on two main components: the lease terms…