Updated over 8 years ago on . Most recent reply
Would you make this deal?
House purchased at $70k in 2006. Value hasn't increased much despite home improvements.
Sell to investor for $70k/240 months. Investor take over payments, maintenance, and all closing cost.
I no longer live in state and it's hard to manage the property.
Would you make this deal?
Most Popular Reply
Don't sell subject to, it's too risky to your credit.
You may be very frustrated with being an out of state landlord right now but at least collecting the rent shouldn't be too tough given your tenants are on section 8. If you could find some local contractors who you trust you ought to be able to make it work.
If not, I'd sell for a small loss before considering selling subject to. If you have decent credit and don't want it trashed believe me you have a lot more stress and worry headed your way if you sell subject to, much more than the stress of being an out of state landlord.