Need help on selling a property to a current tenant!!
I have a property that I own outright...no mortgage. The tenant wants to buy and we have agreed on a sales price. I have directed him to some lenders but he is worried about his credit score. If he finds out that his credit is not good enough to get conventional financing, I was considering Lease Option(or Purchase) or maybe owner finance?? I have heard horror stories about having to foreclose on someone under Lease Option(or Purchase).
My goal is to sell the house quick as possible, cash in on big profit, and move on to the next deal. I know there are a ton of factors, but any input would be greatly appreciated!