Re: Please help with creative options - Posted by Brent_IL
Posted by Brent_IL on January 30, 2002 at 16:39:30:
Not a lot to play with. 5% down + closing costs + transfer fees = lots of dollars for so little equity.
The tenant will string you along because he doesn’t want to move. If he wanted the house he would have committed.
If I really, really wanted to buy, I would insist that the property be vacant prior to settlement. I’d use a final walk-through inspection contingency in case the tenant trashs the place on the way out.
Spruce up the house and find a new L/O or R/B with an owner’s mentality. Get your 5% back at least.