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Updated 11 months ago, 02/17/2024
Trying to sell home to tenant with no financial history
Hi all,
I have a tenant who is wanting to purchase the property from me, but by the end of the lease, she will only have 6 months of employment and credit history under her name. She was a single mom in the past and did not build credit of her own. She had a cosigner for the lease and has been a terrific tenant. I'd really like for her to purchase the home from me, so I'm curious if we have any options. She was told if she doesn't have 2 years of tax returns, then she won't get approved. Is this true? Is she entitled to previous joint returns with her ex if that is required? I know a lease-opiton is typically a good strategy, but I don't want to set her up for failure just to make a dollar. Are there any other options? I feel like I'm stuck either evicting her or continuing to rent it to her...
I have a tenant who is wanting to purchase the property from me, but by the end of the lease, she will only have 6 months of employment and credit history under her name. She was a single mom in the past and did not build credit of her own. She had a cosigner for the lease and has been a terrific tenant. I'd really like for her to purchase the home from me, so I'm curious if we have any options. She was told if she doesn't have 2 years of tax returns, then she won't get approved. Is this true? Is she entitled to previous joint returns with her ex if that is required? I know a lease-opiton is typically a good strategy, but I don't want to set her up for failure just to make a dollar. Are there any other options? I feel like I'm stuck either evicting her or continuing to rent it to her...