The renter now has the option to buy
The renter now has the option to buy the home. Some of the rent paid may or may not go towards the purchase price of the home. The renter/buyer usually pays an amount, in cash (usually non-refundable) to the owner in agreement to buy the house at a later date for the agreed upon price. In the end they have a choice and can back out it they want. With a lease with an option to buy, you sign a lease agreement, many times for a shorter period of time.
Rent to Own Homes in South Carolina