Need Solution - Seller has no funds until Close

[Ryan Nastase]

Hello BiggerPockets Experts!

I have just put a SFH under contract. The owners are brother and sister and they inherited the paid-off home from a parent that just passed away. The sister is currently living in the property but does not have another place to live once we close in 40-days. Upon close, she will get around $80,000 but she has no money and little income to find a property in the meantime. I worry that if I let her lease the property after close, she may not pay and the eviction process right now, is quite challenging. Here are the options I see.

Option 1: Let her lease the property after we close for a month or two and hope she pays rent and vacates.

Option 2: Give her a loan now to find a property and require funds due at closing.  Can I put a lien on the property to protect myself if the property doesn't close?

Option 3: Do nothing and hope it closes with her moved out.

Do you see any better options? What do you recommend?

Thanks in advance for your expertise. 

V/R,

Ryan Nastase

[Wayne Brooks]

You can close, with her having 15-30 days to move out, for a set fee, with Specific language about what happens if she stays longer....along with a $10k or so escrowed amount in case she doesn’t.