info on rent to own or owner financing?

Question

i have friend that is wanting to get rid of a house that she is not living in she had rather sell it as to renting it out but she told me that since im needing a place and she knows me and my family she would work something out with me and i just want to make sure that neither get screwed over what kind of contrct or paper work do we need to keep things legal

Answer 1

Open an Escrow and ask them about the appropriate paperwork. Many times when people do this they don't have enough experience and the contracts are slipshod and unprofessional. In consequence the contract fails and there is ill will. The Escrow will pay for itself in the long run and everybody is protected. And... You can always just walk into a escrow company and ask for the information. They are usually helpful because they want your business. Good luck