All Forum Posts by: Adam Robertson

I need options for making this deal happen... New to investing. I am currently under contract for SF house, no COVID-19 amendment was in the contract. Was just contacted by the Realtor(also the seller's child, who we agreed to list our house with... mistake) stating that the seller wants to back out due to "losing her mind" over fears of COVID-19 and Realtor "cannot force her out of the house." I have spoken to RE attorney, other agents, all saying they cannot back out, but it just depends on how far we want to go with legal fees, court, etc. Also when closed, this would have roughly $50k in instant equity - seller is elderly, wanted to sell to the right family, and wanted to sell quick due to fears of COVID 19... not wanting a ton of people tracking through the house. Realtor stated that when this COVID deal blows over, maybe in 3-6 months, if they intend to sell at that point in time, we would be first on there list. They also mentioned that after signing the contract they received multiple offers "way over asking price" and were writing a back up contract. Seems very sketchy, but somewhat believable. Not wanting to boot out a scared elderly person from her house and thinking win - win here, isn't there a way to structure this deal that I take ownership of the house, she stays in it and pays rent until the fear is no longer, and when she is ready she moves out and I then sell my house and move in? Any help here is much appreciated.