Best way to structure a deal

7 Replies

Only thing I would advise is be careful purchasing a property and allowing pst possession.

Sometimes they can have time to rethink their decision and decide they no longer want to move.

If you do want to buy it soon though, I would encourage you to impose some type of holdback of the money that they won't get until they are officially moved out. Title might be able to hold this for you.

@Samantha Villanueva I purchased a property in October and gave the old owners a 60 day rent back period. They were concerned with finding a replacement property to buy/rent, so my goal was to ease their worries with the rent back - and it worked. They used 30 days of the rent back at a cost that covered my mortgage for that month, in addition to a security deposit if anything went south. After the 30 days, they moved to their new places and we moved it. Pretty simple as long as its structured in your deal... best of luck to you!