Lease Option To Buy Contract

[Josh Obregon]

I am unfamiliar with how to formulate a owner financed Lease Option to Buy contract. What are typical terms of the contract? How are commissions and closing costs typically paid? Should I use a third party to hold the down payment? During the first year when the buyer in on a lease, how should I segregate the monthly payment? Any other considerations I should take into account?

Thank you in advance for the advice and suggestions.