Buying a home with a seller that wants to stay

4 Replies

While at work today I found out an elderly lady is trying to sale her home that she has lived in for 70 years now, but is nervous about leaving. Her house and farm land is off the market and very valuable from what I am told from locals and from research. Is there away I could make an offer on her home and land and allow her to live there still and have it be a win win for both of us? Ideas and strategies would be great, thank you!

Originally posted by @Austin Wheat :

While at work today I found out an elderly lady is trying to sale her home that she has lived in for 70 years now, but is nervous about leaving. Her house and farm land is off the market and very valuable from what I am told from locals and from research. Is there away I could make an offer on her home and land and allow her to live there still and have it be a win win for both of us? Ideas and strategies would be great, thank you!

She could do a Lease Option with you. She can stay in the house until her passing. There are two caveats: 1. She probably has heirs and you want to make sure that everybody is made aware of the deal after it is put together 3. In the event she has dementia later on or if she falls and breaks a hip, or has some other medical emergency - you need to have a plan in place.

Lifetime Lease Option - you can have her pay a certain rate for you to stay or just include that in the sale of her home. More or less it's like a reverse mortgage type of contingency.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here