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Updated over 5 years ago,

User Stats

13
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0
Votes
Arron Lloyd
  • Real Estate Agent
  • New York, NY
0
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13
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What kind of offer for this seller? Land Contract?

Arron Lloyd
  • Real Estate Agent
  • New York, NY
Posted

Hello,

I just spoke to a close family friend who has 3 homes.  He is approaching retirement age and just wants them all off of his hands so he can purchase a dream home down south.

His needs are to have it completely off his hands. No mortgage under his name, just completely off of his hands.  He is considering listing with a realtor by end of this week but said he'd like more info on how I could work with him.

I offered a lease option but he doesn't want tenants and doesn't want anything in his name.  How would a land contract work?  He sells it to me for no money out of my pocket and then I can assign the land contract to a realtor to sell as normal?  I get a spread, seller gets his full amount and is free of property?

Hope this makes sense.  He said if it can be profitable to a friend he doesn't mind but he criteria is completely off his hands and he gets his money.  Should it work for 1 he would consider working all 3 with me.  Any advice would be much appreciated!

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