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    pauldesmond's Avatar
    pauldesmond Posts: 3, Reputation: 1
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    #1

    Jan 10, 2009, 11:09 AM
    Lease Option w/upfront profit - how to
    I rented out my house a year ago to tenants that have had a hard time paying rent, here of late. Their lease expires on Feb. 02, 2009. I do not plant to renew the lease, but would really like to sell the home to a good friend, who lives next door to the house.

    In the event, he is not able to come up with an adequate downpayment (he just bought a 2nd home as Inv. Property), is there anything I can do, as a Seller, that may assist him buying my home, but might also give me some up front profit?

    As a footnote, I hate being a Landlord, and do not want to go another year chasing rent.

    -patrick
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Jan 11, 2009, 06:26 AM
    Quote Originally Posted by pauldesmond View Post
    is there anything I can do, as a Seller, that may assist him buying my home, but might also give me some up front profit?
    Hello patrick:

    It looks to me like these factors would work against each other...

    Sure, there are a million ways you, as seller, can help a buyer complete the sale. MOST of those ways involve seller financing, however...

    Helping the seller BUY your home by helping him finance it, WON'T put "up front profits" in your pocket. Up front profits usually involve CASH, and if the buyer has NONE, then you're not going to get any.

    excon
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