Section 8 Buyer??? Has anyone sold to one?

Question

How hard is it?  Is it worth working with them to get a full price offer?

Brett K. · Answer

FYI update-  My local Sect. 8 will subsidize a mortgage for renters that go through their home ownership program.  It requires that the property pass a section 8 inspection to qualify.  It sounds like it might ad a couple of weeks to 30 days to the process.

Brett K. · Answer

Thank you Jacques.  I'll be getting in touch with the agency.

To be more specific Bradley, I have a SFR for sale and the buyer is a Sec. 8 subsidized renter.  They are inheriting some $$ and want to purchase my property.   They mentioned a Sec. 8 homeownership program to help them afford the house.

Account Closed · Answer

Hello

You have to gather inform yourself on the agency that they are going through. They usually have a homeownership mandatory counseling session typically followed up by a down payment voucher. Section 8 does not mean that the person cannot qualify.

It would be worth your while to qualify them and get in touch with their agency

Good Luck

Bradley Bogdan · Answer

Could you be a bit more specific? Are you looking at selling a rental to someone who is focusing on a portfolio of low income rentals, or are you looking to sell a property with section 8 tenants currently in residence?