D
dreyfuss
Guest
State = California. This is a combination divorce/real estate question.
I'll be as brief as possible. The house needs to be sold. My wife wants to sell the house to an "investor" who will then rent the house back to her.
Is anyone familiar with this sort of "scheme"? The house rentals in our area are going for $1500. She is hoping to work some "deal" to get that down to $1,000 a month. The 2 bedroom apartments in our area rent for $1000 so she feels she could sell this house to the investor, pay me my share, and everything will be just fine and dandy. I am not familiar with these type of transacations. What is the process, expenses, etc.? I am suspicious and reluctant. Any advice would be appreciated. Wouldn't getting a realtor make more sense for God's sake? I believe this is known as a rent-back agreement. No one seems to know a heck of a lot about it. That worries me even more.
Thank you,
Dreyfuss
I'll be as brief as possible. The house needs to be sold. My wife wants to sell the house to an "investor" who will then rent the house back to her.
Is anyone familiar with this sort of "scheme"? The house rentals in our area are going for $1500. She is hoping to work some "deal" to get that down to $1,000 a month. The 2 bedroom apartments in our area rent for $1000 so she feels she could sell this house to the investor, pay me my share, and everything will be just fine and dandy. I am not familiar with these type of transacations. What is the process, expenses, etc.? I am suspicious and reluctant. Any advice would be appreciated. Wouldn't getting a realtor make more sense for God's sake? I believe this is known as a rent-back agreement. No one seems to know a heck of a lot about it. That worries me even more.
Thank you,
Dreyfuss