Six Key Terms That Must Be Negotiated in All Lease and Option Agreements

In addition to following the negotiating advice that I outline in Chapter 13, you must obtain the following six key terms when negotiating lease and option agreements:

1. Two-year lease agreement.

2. Two-year real estate option agreement.

3. Fixed purchase price that is at least 20 percent below the property's current market value.

4. Rental rate that is at least 10 percent below the property's fair market rental rate.

5. One-year extension clause in the lease agreement.

6. One-year extension clause in the real estate option agreement.

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