Rent to Own?

[Antonio.]

I have a friend's that been trying to sell his home for about 2 years now. He really needs money and is looking to rent out his home. How does rent to own work and what's the best way go about getting a transaction like this completed.

 

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[rcardin]

whats the equity? what are his terms ie. payments rate etc.

 

[Antonio.]

The payment's $1,300 a month. What happen was that my friend's father use to live in the home and he moved out. He let his son take over the payments. The home has been on and off the market for 2 years. From the information I have the remaining balance on the home is around $142,000. I'm not sure about the equity build up.