No matter which side of this transaction you are on your best bet is to keep looking for a real estate atty to consult with and that includes using the links above to speak with a atty. To do anything less than seeking legal advice and having a atty prepare the contract for you can lead to this transaction biting you in the tuchis real hard. BTW if you are the seller dont sell a property that needs major work , no matter what many states courts will see it as a rental and do you really want a tenant doing work on the property then risking that you will have to do it all over from scratch because they started a project and walked on your contract ? , what may serve you better is that a atty writes for you a contract that grants the tenant first right to by with in a spelled out time frame and does not give them consent to do any alterations or repairs with out written consent, your rental contract can still even list how much of the rent is to go to a down payment as long as they do not alter the property , this way You get to make sure the taxes , ins are paid as well as right to inspect , right to make sure when repairs are needed that they do not harm the value of your property , can you imagine the horror of a badly worded contract and a rent to own tenant begins to rip out the kitchen , gutting it totally then later they abandon the agreement and getting stuck with haveing to not only rebuild it but the risk that your city county would step in and insist on condemnation and full code compliance?
