A lease purchase (also known as rent-to-own) is a lease combined with an option to buy a property within a specified time. The average option period is within 3 years or less. Lease purchases are popular right now because many want-to-be home buyers can’t get a bank mortgage loan and many sellers are needing to be creative in order to their homes in this tough real estate market. Normally, the buyer pays an option fee, 1 – 5 percent of the list price. The borrower pays a specified rent and an additional rent premium credited to the purchase price; all are negotiated between the parties. Since the sellers are usually more familiar with the contract details and provide the contract, a homebuyer needs to be informed of the process, the market and what the terms mean exactly in order for it to be a good real estate investment.

This week’s featured homes range in price from $110,000 for a three-bedroom home on Landing Court in Douglasville to a four-bedroom home on Vine Leaf Drive in Powder Springs for $225,000. All homes are shown by appointment.

Click through the image gallery to preview the homes. Descriptions, prices and need-to-know information are listed with each home.