Great tenant wants to purchase

[Kim Holley]

I have a fabulous tenant. She has looked after the home as if it was her own. She has wanted to buy for a few years and I am ready to sell. She has just changed jobs + Covid and is having trouble qualifying for bank loan. What amts are recommended for minimum down and mtg %  for vendor take back?

 In Ontario -   would love to hear about successes or cautions 

Kim

[Roy Cleeves]

Hi Kim

Why don't you set this up as a rent-to-own for them.  You keep it in your name yet put them on a 3 year plan to buy it out from you.  You help them save each month towards their down payment.  And it will provide you great cashflow since they pay you the regular rent plus extra towards the down payment.

I can help you structure it if you like.  Just text me.