Posted by Jim IL on February 05, 2001 at 24:26:14:
First, if the sellers are willing to sign now, but reluctant because they have no where to move to “yet”, then get them to sign NOW!
Just place an addendum or extra clause in the agreement that states your possession of the home, and payments from you will not start until they leave.
You may also want to include in that that the sellers pay YOU rent for the time they are in there, as well as maintain the home, utilities until they move out.
Perhaps even setting a time limit on this, and something stating that IF the sellers fail to comply, the agreement is null and void.
NEVER, EVER give the sellers time to change their mind about signing when they are so ready.
If the deal is a good one, you might also want to help them find a place to move into.
Either buy one yourself that they can afford, or locate a place for rent from someone else that fits there needs.
And, as far as answering questions about what you will do with the home, your management of it when renting it and selling it, just tell them that your company handles all that, and these things need not be there worry.
That is after all “why” you are buying from them right?
To solve there problem and take away all those possible headaches concerning the home.
Just be honest with them, but don’t lay out all the details of “how” you do business with them.
Ease there concerns, which it sounds like you have somewhat, and all will be fine.