Pricing and Lease to Buy contracts

[Vidit Maini]

Hello Fellow RE enthusiasts,

I am trying to sell a property as a 'sale by owner' . The current tenant wishes to buy the property. I have had made major renovations prior to this tenant moving in and hence the price is higher than similar properties in the area.

Can anyone share their experience of selling directly to tenant ? I want to ensure I understand the end to end process. Also, I am assuming I will only need an attorney for closing and can avoid all real estate agent fees. 

Also, If the tenant is willing to pay purchase price, could I have trouble if the home appraisal comes out lower?

Please share your experiences , insights and tips.

Thank you!

Vidit