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Updated almost 10 years ago on . Most recent reply

User Stats

807
Posts
473
Votes
Nat C.
  • Investor
  • Miami, FL
473
Votes |
807
Posts

Paying seller over 2-3 years (so he won't lose his food stamps)

Nat C.
  • Investor
  • Miami, FL
Posted

Firstly, I'm not asking for legal advice, so any replies don't need a disclaimer :)

A seller I'm buying a house from is concerned about becoming ineligible for food stamps and Medicaid when I buy the second property on his land due to receipt of a large sum of cash.

I'm paying 30K to him and 30K to his sister. He asked if there was a way I could pay him $1000 a month over an extended period instead of all upfront so he could keep his benefits. Can an uncomplicated contract be written up for an arrangement like this?

Most Popular Reply

User Stats

479
Posts
165
Votes
Ryan R.
  • Real Estate Investor
  • Central, TX
165
Votes |
479
Posts
Ryan R.
  • Real Estate Investor
  • Central, TX
Replied

This thread eiptomizes the problem we are facing in this country. It's insulting to those of us paying for these freeloaders. What a disgrace. 

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