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Updated over 10 years ago on . Most recent reply

Account Closed
  • Pearl, MS
4
Votes |
37
Posts

Tenant Wants to Sell His Property and Buy Property He is Currently Renting

Account Closed
  • Pearl, MS
Posted

A few days ago, I received a call from a person who is both the sole heir and administrator of an estate. His mom's ex-attorney is also helping him navigate his way. He wants to sell three properties that belonged to his now deceased mother. One home was his mother's primary residence and the other two were rentals (a duplex and a single home). He and one of the estate's tenants called me today. The tenant has a property that he used to live in that he wants to sale. The proceeds from the sale of the tenant's property would go towards the purchase of the home that he is now renting from the estate. The tenant says that he is tired of paying the mortgage on his home and the rent on the home owned by the estate. Both of these homes have a mortgage and the estate has creditors. I have someone that might want to buy the tenant's property. I am tempted to structure the deal using subject to financing. Does anyone else have any ideas?

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