Updated almost 6 years ago on . Most recent reply
Multiple lenders on the same note?
Hey guys, I am working on a deal where the owner has passed away and her 7 children are looking to sell both her home and her commercial building.
I want to bring up owner financing but am not sure what that looks like with multiple parties on the lender side of the table.
They are all motivated to sell and move on but none want to pay capital gains tax. They have also mentioned it would have been nice to have the rental income.
Thank you for your time guys!
Most Popular Reply
That's going to be like hearding cats! The more heirs, the more challenging. I would focus on the tax hit they will take if they sell, and explain how owner financing it to you will give them years of payments, or some combination of a down payment & seller finance. Let us know how it goes!