My wife and I have been looking at properties for about the last 6 months with the knowledge that we wont be able to buy a house until July/August of next year, due to use having to do a dead-in-lieu of foreclosure a few years back when I had to move due to work.

This past weekend we went to a couple of open houses, which we go to both to get ideas of what we like and don't like as well as a cheap way to spend time together, when we came across a house that both of us like. As of now the house is empty, and has been for about the last 2 months, so both my wife and I were talking about contacting the real estate agent and inquiring if the homeowners would be interested in doing a rent to own with us signing an 18 month lease.

What are some things that I shold knowor questions that I should ask? What are some terms that I should negotiate up front, ie final cost, closing cost, etc?

Thanks