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It is a purchase option to be applied to the purchase price of the property. Yes, it was done in tandem with a lease and the lease stipulates that we will receive principle credit equal to 90% of the principle credit from the master mortgage held by the lessor.

We placed a substantial ($10,000.00) down payment on a home we intended to buy a year ago. We needed the year to get our finances in order. The contract says that the 10,000.00 is to be applied to the down payment. However, last fall the seller had the house appraised (he was hoping to...