North Mississippi Delta / Alabama Gulf Coast | Use a purchase agreement with terms and considerations listed and detailed.
If you sell to him without a considerable down payment and agree to hold the mortgage,
You may be in for a long fight if they pay slow or intermittent. Renters can be poor owners.
If they can’t get financing, you may end up being the landlord whether you want or not.
Be prepared to evict with prejudice.
BTDT and still dealing with it.
They should get their own financing and owe a mortgage company instead of you.
Edited by Kneedeep 2011 10/14/2024 08:04
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Purchase Agreement question
