Family Seller financing not free and clear
My fiancé’s family came to me about her aunts house for sale in California that she is trying to sell for $480K. It’s a 3bed 2+ bath with a detached garage that was converted into a studio with a half bath. I recently purchased a triplex and don’t have money for a down payment to even try to acquire her property. I was thinking owner financing would be best and could probably get her to do so since we would be keeping the property in the family. She has 6 years left on her loan and it would be a shame to see a property with that potential to go instead of holding for rental income. She’s tired of renting it and just didn’t have good luck renting it out. I feel like the potential for turning it around is huge but how could I go about it if she does not own it free and clear? She wants to sell to use the money to buy a home for herself out of state. Any suggestions on how you think I can get her to think about the option to sell to my fiancé and I instead?