Best Options or Approach?

[Jade S.]

While working on the landscaping at my most recent SFH acquisition in a solid Class B neighborhood, I was approached by the homeowners of another SFH four doors down about buying their house! However, their timeframe for a sale and/or move is about 6-8 months out. Additionally, I wanted to increase my capital reserves for a few months before buying the new property. Given the potential timeframe, what options would you experienced investors potentially consider in a scenario such as this? They don't want to utilize real estate agency in order to save money on paying commissions, although I wouid still utilize my real estate attorney to conduct the contract review and close.

Thanks!

[Jade S.]

Thanks for the thoughts, @Rachel H.  I have had some very preliminary discussions with the homeowner, so I roughly know price they are seeking.  I wasn't sure what experiences investors had with tying up a property for several months (outside of a short sale situation).