You may have a prospect who can't buy now, but agrees to secure the option with a downpayment or security deposit.

When you accept a tenant who doen't have the money to put towards the purchase price but still wants to buy your property, it is important to protect yourself properly when granting a tenant the option rights to purchase your property. This addendum is made for exactly that.

If you're not using The LPA Lease with Purchase Option which already includes this full agreement in the form, you'll find this addendum very easy to add onto your existing lease agreement form.