What is a Security Deposit on a Rent to Own contract?

When you agree to a contract on a Rent to Own purchase, You will have to make a Security Deposit. Sometimes that will be a First Months Payment or a Set amount as per the contract. This is a GOOD FAITH deposit that states you will fulfill your part of the contract agreement . Most contracts state that if You cancel the contract for any reason you will lose your Security Deposit. If for some reason we cant fulfill our side of the contract, You will get your Security Deposit back.

That’s how Security Deposits work!!!!!