Updated over 6 years ago on . Most recent reply
What kind of offer for this seller? Land Contract?
Hello,
I just spoke to a close family friend who has 3 homes. He is approaching retirement age and just wants them all off of his hands so he can purchase a dream home down south.
His needs are to have it completely off his hands. No mortgage under his name, just completely off of his hands. He is considering listing with a realtor by end of this week but said he'd like more info on how I could work with him.
I offered a lease option but he doesn't want tenants and doesn't want anything in his name. How would a land contract work? He sells it to me for no money out of my pocket and then I can assign the land contract to a realtor to sell as normal? I get a spread, seller gets his full amount and is free of property?
Hope this makes sense. He said if it can be profitable to a friend he doesn't mind but he criteria is completely off his hands and he gets his money. Should it work for 1 he would consider working all 3 with me. Any advice would be much appreciated!