Creative selling options? Vendor finance?

A tenant has made contact with me to discuss "other options" to stay in the house I'm trying to sell.

They tried to buy, but it is "out of reach".

I'm open to any ideas, I'm not pressured to sell.

What options might I explore that are a little out of the box, and are perhaps win-win?

I will call them tonight and see what they have in mind.

 

Find out what is holding them back from buying outright. Is it income or deposit? If deposit you could perhaps consider lending them - but they will still find it difficult for a lender to accept.

 

I will, and depending what they have to say i'll report back.

 

Possibly a mortgage carry back is the simplest option here, but it would increase the risk to you (and I suppose raises the question about their ability to repay the mortgage if they couldn't raise a deposit). I love win-win solutions if you can help them buy their first place.

 

KEEP it simple, if you want to sell the property just sell it through a agent.
Just remember if a bank won't lend them money then there is some other underlying issues that may lay ahead.

 

Have to agree with @jpcashflow.
The other options are messy and I would also have concerns over there inability to save a deposit and you taking on that risk with a carry back.
Maybe suggest to them a guarantor loan from a family member. You can sill create a win-win by selling to them at market value minus agent fees.
You save on staging advertising and the hassles.

 

Nice quote.. Win / Win is a great way...