Time to Sell

[Doug Harman]

Hello All,

I'd like to sell my rental to my renter.  They have lousy credit so I will need to keep my loan.  How do I set up a contract and title without freaking out my bank.

[Chris Martin]

Why not sell to someone else and get a better price? List it with a broker and advertise 'tenant in place'.

[Jon Q.]

Originally posted by @Doug Harman:

Hello All,

I'd like to sell my rental to my renter.  They have lousy credit so I will need to keep my loan.  How do I set up a contract and title without freaking out my bank.

Are you going to provide own-financing?  I wouldn't do it with a tenant who's got poor credit. But if you're going to....there are resources online that can setup the contract and monthly payment management for you (ex. LendingKarma.com, VirginMoney.com, etc...).