Updated over 5 years ago on . Most recent reply
Structuring an Owner Financing Offer to 5 Co-Heirs
I am planning to make an offer to buy an inherited property from my 5 co-heirs. The home on the property needs major renovation and repairs. After the renovations, it is my intention to hold this property as an exclusive short-term rental. I would like to structure an owner financing offer for a 5-year term at a 4% interest rate, with no down payment and no monthly payments for 18 months. I am not sure that I will be able to negotiate this deal with all 5 heirs - may have 1-2 hold outs. I was hoping if anyone had this or similar experience with co-heirs that you could share experience and recommend information or resources that would be helpful.