All Forum Posts by: J Davis

Thank you @Darius Ogloza!!!

@Darius Ogloza

@Rick Trivedi

@Shefali Trivedi

Follow up questions. You all have been so helpful! I hope you don't mind my following up with a few additional questions:

Statistically, my mom has very little time left. She could go on to live for a couple more years but that is highly unlikely. She's (far) more likely to die any day now. The average lifespan after terminal lung cancer diagnosis is 17 months. She was diagnosed 12 months ago. So time is of the essence! I'd really like for her to get the equity out of her house as soon as humanly possible, so she can really enjoy her final days. She will be flexible on the sales price of her house and on the rental amount she pays to live in the house. What's the best way to get in some offers as quickly as possible? Should i offer to an 'open' listing to many realtors and whoever brings the best (and fastest offer(s) wins? Or would that disincentive the best realtors from participating since they wouldn't have an exclusive listing? How can I attract the most suitable realtors/brokers that will bring the right buyer for this specific deal (Cash bonus on accepted offer? Discounted home price? Above market rent-back amount?) If you were me, how would you go about getting appropriate offers as quickly as possible? How would you use BP to get this deal done asap? Thank you all so much!!!   

@Rick Trivedi

@Darius Ogloza

@Shefali Trivedi

Thank you all so much for your insightful responses. Truly appreciated!

@Rick Trivedi

@Rick Trivedi

@Rick Trivedi

@Rick Trivedi

@Rick Trivedi

@Rick Trivedi

@Shefali Trivediundefined

My mother owns a very nice family home in Northern California (El Cerrito) that recently appraised for $1.3M. She owns the house free and clear and has owned it for about 20 years. She would like to sell her house and rent it back from the new owner at fair market value in order to continue living in the house. She is 87 years old and was diagnosed with terminal cancer a year ago. The house is in excellent condition, and my mom has phenomenal credit history for many many years.  

Questions:

Can my mom be appropriately protected by a stipulation in a purchase agreement that she may remain in the house? Or could her tenancy be incorporated as a condition of the sale? My mom has made it clear she'd like to die in her house. So I'd like to make sure her wishes can be ensured in any transaction. 

Have you heard of, or been part of, any similar scenario? Would love to hear how it transpired. 

Thank you!