337 Chimaja Rd

Lease terms

Lease-to-Own Opportunity 337 Chimaja Road, Corrales, NM 87048 Enjoy the flexibility of renting today while building toward homeownership. This property is available under a Lease-to-Own (Lease Option) program with the following terms: * Purchase Price: $650,000 * Lease Term: 12 months (with the option to renew by mutual agreement) * Monthly Rent: $3,000 * Home Purchase Credit: $250 from each on-time monthly rent payment will be credited toward the purchase price as a down payment credit. * Maximum Annual Purchase Credit: $3,000 (12 months x $250) * Purchase Option: Tenant may purchase the property at any time during the lease term for the agreed purchase price of $650,000, less any accumulated purchase credits earned under this agreement. * Purchase Credit Conditions: Purchase credits accrue only for rent payments received on or before the due date. Late or missed payments do not earn a monthly purchase credit. * Closing: If the purchase option is exercised, closing shall occur within 30 60 days of written notice, unless otherwise agreed by the parties. * Financing: Tenant is responsible for obtaining financing for the purchase. In addition, the seller will finance the property at 5% interest on a real estate contract, subject to mutually agreed terms and conditions. * Maintenance: Tenant is responsible for routine maintenance as outlined in the lease agreement. Major structural repairs remain the responsibility of the owner unless otherwise specified. This Lease-to-Own opportunity gives qualified tenants the chance to enjoy the home now while steadily building equity toward ownership. By making timely rent payments, you'll earn $250 each month in purchase credits that can be applied toward your down payment when you buy the home. This program is ideal for buyers who want time to strengthen their finances, save additional funds, or secure financing while locking in today's purchase price of $650,000. Seller financing at 5% on a real estate contract provides an additional path to ownership for qualified buyers. For more information or to discuss qualifications, please contact the owner.