Is it safe to buy a house on a rent to own contract? Is it safe?

Question

A friend of mine offer me to buy his house on a rent to own contract. I told him I would think about it. I can easily aford the payments, but Im just not sure. What is the differance between a rent to own contract and a finance contract for a mortgage? Where can I get more information about renting to own a house.

Answer 1

There can be many pitfalls.  I would never enter into such an agreement without having a lawyer review it first.  What's in it for your friend?  Why doesn't he/she just sell you the house?

Answer 2

There are several important considerations to make before entering into a rent to own contract. A very good review is available at the link provided.