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Updated 12 months ago,
How to make this transaction work.
Hey everybody
Heres the scenario.
Just looking for advice not another agent solicitation
My mom has a house in Pleasanton California worth 1.5 mil and 1.7 and a sizable chunk of equity in this property . She is looking to downsize and pay cash for a home somewhere within the purchase price of 1 million dollars.
The problem. She’s not willing to sell her house and do rent buy back for a few months and she’s not willing to sell and find a place to live for a few months while she shopping for another house.
So basically her buying this other downsized house is contingent upon the sale of here current primary residence which I believe makes her offer a lot weaker especially in our hot Bay Area market.
How would you tackle this problem, what are some options ?