A separate path to ownership
A purchase option is a separate, voluntary agreement. You may rent a home without ever purchasing an option. If you choose the option, it gives you the right—but not the obligation—to purchase the home under the terms of the signed agreement.
How the Option Works
Easy process. Clear control. Definable future.
This is a separate, voluntary $500 purchase option that can complement the home’s net-expense lease. A renter may decline it entirely. An option holder gains contractual rights without becoming obligated to buy.
Available at 106 E Miller Street
The purchase option starts at $325,000 and follows a written monthly price schedule based on 30-year amortization at 6%.
$5,000 to get in*
What the option allows you to do
$4,641.50 upfront*
About $24,000 upfront†
Varies
For the option calculation, each timely paid month reduces the exercise price by the principal amount in a 30-year amortization schedule at 6%. This is a contractual exercise-price schedule—not mortgage equity.
| Timing | Exercise price | Total scheduled reduction |
|---|---|---|
| Start | $325,000.00 | — |
| Month 1 | $324,676.46 | $323.54 |
| Month 12 | $321,008.96 | $3,991.04 |
| Month 24 | $316,771.77 | $8,228.23 |
| Month 36 | $312,273.23 | $12,726.77 |
| Month 48 | $307,497.23 | $17,502.77 |
| Month 60 | $302,426.66 | $22,573.34 |
*The $5,000 option-path figure includes $1,950 first-month base rent, a $2,550 security deposit, and the $500 option fee. Current monthly tax ($521.50) and insurance ($170) reimbursements are separate and bring the initial monthly net-expense payment to $2,641.50. The lease-only example uses the first month’s full initial monthly payment plus the current $2,000 deposit. Security deposits remain governed by the lease. †Traditional-purchase illustration assumes a $299,999 price, 5% down, 3% estimated closing costs, a 30-year fixed loan at 6.76%, current monthly tax and insurance estimates, and illustrative PMI of 0.5% annually. It is not a loan quote. Rate benchmark: Freddie Mac, September 10, 2026. Exact option, renewal, payment-condition, transfer, and sale-coordination terms require final attorney approval and must appear in the signed agreements.
What the option allows you to do
The option is designed for someone who wants a contractual opportunity to buy later while keeping the decision to purchase in their own hands.
You may exercise the option under its written terms, but you are never required to purchase the home.
The fee purchases the contractual option right. It is separate from rent, a security deposit, earnest money, and a down payment unless the signed agreement expressly states otherwise.
The purchase price or objective pricing method, option period, exercise process, and closing terms are stated in the signed option agreement.
The option may be transferred through a written assignment and assumption, subject to the agreement and applicable Texas law.
How it works
Only a fully executed purchase-option agreement creates option rights. The exact terms must be reviewed before anyone pays the fee or relies on the option.
Read the separate agreement, including price, term, conditions, transfer rights, and expiration.
Entering the option is voluntary. Declining it does not affect the ability to rent under a separate rental agreement.
If you decide to buy, deliver the written notice required by the agreement before the option expires.
Proceed through the agreed purchase contract, financing, title, and closing process.
Open-market flexibility
Subject to the signed agreement, an option holder may ask Malachi 310 Construction to market the home for sale. The owner retains control of the listing, broker selection, pricing, and acceptance of any offer. Any assignment, release, or payment connected with a third-party sale must be handled in writing through the appropriate real-estate, title, and legal professionals.
Frequently asked questions
For $500, you receive a contractual right to purchase the home at the price established in the option—without becoming obligated to buy. The scheduled exercise price also declines after each timely paid month according to the agreement’s 30-year, 6% amortization schedule. If the home’s market value increases while that scheduled price declines, the difference may create an opportunity for you to benefit financially.
Subject to the signed agreement and applicable law, you could purchase the home yourself, transfer your option, or ask Malachi 310 Construction to market the home and coordinate an open-market sale. In a properly structured transaction, Malachi 310 Construction would receive the previously agreed purchase price and applicable transaction costs, while you could receive the remaining net proceeds.
The option also gives you time to prepare for financing and decide whether purchasing is right for you. Appreciation, financing, a future sale, and profit are not guaranteed.
No. Renting and the purchase option are separate choices. A person may rent without ever entering the option agreement.
No. The option gives you a contractual right to purchase under stated terms, but you decide whether to exercise it.
It pays for the contractual option right. It is not rent, a security deposit, earnest money, or a down payment unless the signed agreement expressly provides otherwise.
Generally, the fee is intended to be nonrefundable, except when the signed agreement or applicable law requires a refund.
The proposed initial option term is five years. The proposed agreement allows one additional five-year renewal for $1, subject to the eligibility and notice conditions in the final attorney-approved agreement. There is no option until both parties have executed that agreement.
The proposed agreement permits a written assignment and assumption, subject to its terms, required disclosures, and applicable Texas law.
Subject to the signed agreement, yes. The owner controls the listing, broker, price, and acceptance of offers. Any option assignment, release, or related payment must be documented in writing.
You would deliver the written exercise notice required by the agreement before expiration and then proceed through the stated purchase and closing process.
No seller financing is promised. The purchase option is only a right to purchase, and the buyer generally must use cash or qualifying third-party financing to close.
Ask for the current terms and review the written agreement before making a decision.