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