Ideas to get family member out of new property

[Casey Conti]

Hello all and thanks in advance for your help!

The property is owned by the father who is now elderly and living with his son. The cousin moved into the house with his family and isn't taking care of it, so the son contacted us to sell. Seller is happy with our offer but is asking if we'd consider letting the cousin and his family stay for 6 months to a year at a discounted rate (about half of current market value). A few options we've thought about offering are:

1.- $1000 cash for keys, so the cousin can find a new place

2.- letting the cousin stay for a shorter term, maybe 3 months.

Anything else to recommend???

[Joe Splitrock]

@Casey Conti it is better if the father/son get the cousin out before closing. If they want you to let them stay there for one year at below market rent, calculate what that amount is and ask for it in seller concession. I am guessing the seller will not want to give up more money. The point is the seller needs to understand with the cousin in the property, they get less money. It doesn't come out of your pocket.