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Over time, LoopNet added the capability to import listings in an automated manner. [citation needed] In 2001, the company merged with PropertyFirst.com. [3] In June 2006, the company became a public company via an initial public offering. [4] At that time, the company had 360,000 commercial properties for sale or lease. [5]
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
Lenders may also accelerate a loan if there is a transfer clause, obligating the mortgagor to notify the lender of any transfer, whether; a lease-option, lease-hold of 3 years or more, land contracts, agreement for deed, transfer of title or interest in the property. The vast majority (but not all) of mortgages today have acceleration clauses.
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