However, most buyers want to lock in the future purchase price upon inception of the lease option.During the term of the lease option, the buyer agrees to lease the property from the seller for a predetermined rental amount.The term of the lease option agreement is negotiable, but the common length is generally from one year to three years.The option money generally does not apply toward the down payment.A portion of the monthly rental payment typically applies toward the purchase price.Option money is rarely refundable.Nobody else can buy the property during the lease option period.The buyer generally cannot assign the lease option without seller approval.If the buyer does not exercise the lease option and purchase the property at the end of the lease option, the option expires.The buyer is not obligated to buy the property.Basics of lease purchaseBuyer pays the seller option money for the right to later purchase the property.

If you focus on cooperative deals like lease option assignments, you can help sellers make even more money, while getting a slice (albeit a smaller one) of a bigger pie.

I think a great way to begin using BP is to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.And now that you're here we'd love to see you be an active member of the BP community so be sure to set up Keywords Alerts for your local area such as "Plainfield" or "Mountainside" if you're looking to find potential opportunities for investing, education in a subject, or other members in your area.

Here are a few recommendations for you:Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alertsWishing you the best!              

Here are some good places to start:http://www.biggerpockets.com/meet- find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

Here are a few recommendations for you:Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alertsWishing you the best!              

Here are a few recommendations for you:Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alertsWishing you the best!              

I've got this one under contract. I'm looking to partner with someone to handle the buyer side of things (run ads/marketing to find buyers, screen/qualify them, work with a mortgage broker to get them qualified, etc)....

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

Here are a few recommendations for you:Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alerts Read Beginner’s Guide http://www.biggerpockets.com/real-estate-investing and check out BP Podcast.