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30
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18
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Justin Bailey
  • Rental Property Investor
  • Canton, OH
18
Votes |
30
Posts

Selling to a Tennant

Justin Bailey
  • Rental Property Investor
  • Canton, OH
Posted

I bought a property knowing the tenants would at some point want to buy the property they have been living in for 8 years. They tried to buy it when it last got listed but their DTI was just too shy. So I bought it to eventually flip to them. They want to use a lender which I'm fine with. Covid has increased the value enough that I will make a good profit. My question is that we don't want use a realtor for the sale because they don't need help finding a home nor do I need help selling it. (I think lol) what would be the steps I need to take to allow them to buy the home using a bank without a realtor. I do have a mortgage on the property and I don't want to assume the loan or do owner finance. As I'm using the cash from the sale to free up a heloc to start a STR. Any and all advice is welcome. Thank you in advanced.

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