5 year leaseback idea of dream property
The couple that is they are today is elderly but I get the sense that they may be selling a some point, but aren't in a rush. If they would sell it to me today I would take it, but I don't need to occupy it as a said for up to five years.
Offer to purchase the home for a fair market value. Have a rental agreement that allows them to live in the home up to five years. They would be required to pay taxes, Utilities and insurance. They would not have to pay us any rent amount. Effectively they get to live in their same home rent-free ( they do not have any mortgage payments today on that home ) and we lock in that property. It seems like a win – win. What am I missing and what else should I consider?
Thank you in advance for your help.
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