Bad credit tenant wants to buy
I am going to sell my Florida rental this year.
My tenant wants to buy it. Great, except their credit is horrid. Like maybe a 530 FICO score horrid.
Ever since switching from having my mother demand rent to automating it with Cozy.co 2-3 years ago, rent collection has not been a problem. Since then their credit is good with me. So, I said I would look into options for them to purchase. Okay, so this is me looking into options.
If I understood owner financing better I would do that. But I don't. The house is worth about $50K, as is, so I'm not sure if it would even qualify for a mortgage.
So what would you suggest?