terms of sale, to nephew, steps to secure

[Deanna McCormick]

I have a nephew that's expressed desire to buy a property that I manage for our family trust. It does not have a mortgage so 100% free and clear.. 

I recently had it appraised and have given him price, timing for him would be better after Jan 1st, for me it would be better before end of the year. 

It's a 4 unit rental property with a SFH on same site, currently 100% occupied. I have another party that I mentioned to that I was planning on selling late this spring. I feel like I should give the nephew the opportunity but don't want to wait till January,, I was hoping to have some type of offer / purchase agreement by June thru a private party, as I didn't want to use a realtor.

Anyone else completed a " Sale between family members" I don't want to miss the window of this seasons timing for sale.

Should I expect Proof of funds and purchase agreement by May 1st to proceed, from nephew and if that isn't possible move on.. 

Any tips would be great.