An Iowa lease-to-own lease agreement permits a landlord the opportunity to lease their residential property to a tenant, who shall retain the option to purchase said property during a defined period. Both parties may set aside an established window within the leasing term for the tenant to decide whether they wish to transition from renting to buying. On their initial agreement, the two parties must include all relevant information that will drive the sale. They can, for instance, record the agreed-upon purchase price as well as any financing conditions. Each party should be thorough in completing the lease-to-own since it governs not only the potential sale but also contains obligations relating to the tenancy.

Seller Disclosures

The following disclosure forms must be completed by the landlord or property manager and given to prospective buyers.

Lead-Based Paint Disclosure – Sellers of properties built before 1978 must disclose the possibility of lead paint to prospective buyers.

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Seller Property Condition Disclosure (§ 558A.4) – Sellers of residential property are required by law to complete this disclosure form and present it to potential buyers (either by in-person delivery or via certified/registered mail).

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