Legal Question in Real Estate Law in Washington

Re: Lease to Buy Option

The short answer to your question is "no." However, if the seller/lessor has a mortgage, that may pose problems for the lessor and lessee or seller and buyer such as in a case where the lessor/seller defaults on their mortgage, resulting in a loss of the home, followed by a sale to a new buyer who would not be bound by the lease option to buy.

If at the time of the default by the seller, the lessee can finance and purchase the home on their own, then there is no problem. The problem comes in if if the lessee is not yet ready to finance the purchase of the home. Then they find themselves having made payments on a home that they can no longer keep because the lessor/seller defaulted.

My advice is that whatever you do, and no matter whether you are the seller/lessor or the buyer/lessee, get a lawyer to go over everything or better yet, have an attorney draft your agreement.