Barter transaction questions

[Rafael Vazquez]

Hi all,

I have a rental that I want to sell to my current tenants. A young couple, very nice, pay on time, have been with me for over 6 years, take good care of the property and have giving me no problems at all. They love the house and are trying very hard to buy it. Credit is not the best and they are having problems to qualify for a loan for the full amount I am asking for.

The guy paints houses and commercial properties for a living and I am in need of a paint job on my own house where I live. Is a big house and it will probably cost ~ 5-6K for a paint job.

I am thinking about bartering the paint job with him for a discount on the sale of the rental so that I can get closer to the price I want. I have never done this type of transaction so I am wondering if someone has any experience with bartering for services in this manner.

Example

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Asking price: $175K

They qualify for $170K

Barter paint job for $5K

Questions:

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1. Is this even possible?

2. If so, who handles this, the title company?

3. Do I record somethig to create a lien on the rental until he finishes the paint job?

4. Anything else I should be aware of?

Any feedback will be appreciated.

Thx/Rafael