"All-Inclusive Trust Deed" offer

[Jim Workman]

I received an offer for my property where he would pay my equity (300k) then use an "All-Inclusive Trust Deed" to make the payments on my mortgage (900k). He also suggested a 25k escrow account to make up to 4 payments if he missed any.

My little bit of googling makes it look like I would be exposed to "Due on sale" clause if the lender chooses, or to foreclosure if he doesn't keep up payments.

He also would like a 60 - 90 day escrow in order to sell his property in DC.

I am planning a 1031 exchange and don't see how that could be accomplished in this scenario. I believe he would take title to the property.

He said he would refi in a couple of years, but as long as he is just paying my mortgage, I don't see any incentive for him do so.

Another thread suggested that some kind of Lease/Option would be preferable to the seller.

The property is in a quickly appreciating area.

Any suggestions?

Jim