How hard is it? Is it worth working with them to get a full price offer?
Could you be a bit more specific? Are you looking at selling a rental to someone who is focusing on a portfolio of low income rentals, or are you looking to sell a property with section 8 tenants currently in residence?
You have to gather inform yourself on the agency that they are going through. They usually have a homeownership mandatory counseling session typically followed up by a down payment voucher. Section 8 does not mean that the person cannot qualify.
It would be worth your while to qualify them and get in touch with their agency
Thank you Jacques. I'll be getting in touch with the agency.
To be more specific Bradley, I have a SFR for sale and the buyer is a Sec. 8 subsidized renter. They are inheriting some $$ and want to purchase my property. They mentioned a Sec. 8 homeownership program to help them afford the house.
FYI update- My local Sect. 8 will subsidize a mortgage for renters that go through their home ownership program. It requires that the property pass a section 8 inspection to qualify. It sounds like it might ad a couple of weeks to 30 days to the process.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!