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Updated over 4 years ago,
Seller finance question a little complicated
Hello! I have a kind of different situation here. Long story short is a older gentleman I use to work with has stage 4 cancer and my mother happens to be his caretaker for now he doesn’t have much time left. He only has 2 kids that he doesn’t have a great relationship with. He mentioned to my mom he wanted to sell his house and just rent a place, my mom told me and I’m very interested in buying the property from him.
He’s on the edge on whether or not he wants to sell. I’m going to talk to him Friday to discuss but I need tips on how I can solve his problems and make everyone win here. What I’m thinking of offering is.
-A good down payment upfront for him to have.
-Let him to live in the property till he passes away so he doesn’t have to worry about moving.
-offer him what he wants for the property at a low interest rate over 30 years payments going to his 2 kids.
I just don’t know if this is going to sound appeasing to him I mean it’s a sad situation I really like the house and would plan on making it my primary residence.
Would you guys structure the deal differently not talking prices just really wanting to know the approach you would take in this situation.
Thank you!