My Agency just listed a home in Saugerties, and the seller will rent with an option to buy.
Most "rent w/ option" will ask for a down payment, credit references. There will be a contract and a closing date. You can negotiate a portion of the rent going towards the purchase price, or possibly a balloon
payment. There is no set rule, both parties will have to agree on the deal that is structured.
This can work for both the Seller and Buyer...the buyer has a chance to save some money
and the seller doesn't have to leave his home vacant, and has money for the mortgage or
If you are determined to rent with option it may take some time to find that type of property and of course your credit will need to be great. I could help you with a pristine 3 bedroom townhouse but it is in New Paltz.. My suggestion is to work with a certified buyer agent who will guide you through out the entire process.