Purchase option
This type of contract, as the name suggests, gives you the option to buy the house at the end of the lease period. At the same time, you also have the option to walk away from the contract if you are not in a position to buy the house.
If you do not qualify for a mortgage or if you have not managed to come up with the required amount, you can simply move out of the house. You are not obligated to stay at the place and continue paying rent or to buy it outright.
