Ok… typical divorce story.
Short of it is I’m likely to need to sell the family home as part of the financial settlement.
I would like to sell to an investor who will in turn rent it back to me, perhaps for a couple of years (to keep things steady for the kids, etc).
I’m not too brainy on all this stuff, so am wondering what advice people have, from experience, to help me:
a) find the right purchaser
b) sell it privately to save $s
c) get the “legals” right so the purchaser must rent it back to me for an agreed period
d) think of whatever I may not be thinking about
Thoughts and suggestions are welcome.
Meant to add…
I am in a position to keep, say, 21% ownership, so that an investor *could* come in at 79%, if they wanted to. I don’t know if “less exposure” would be a favoured option or not, but just thought I’d mention the option. But then I don’t entirely understand what it would mean to somehow share ownership with an investor… i.e. what the positives and negatives of that might be, as well as how much more complicated the legals would need to be.
Hi Alister
Your solicitor will be able to help you out with most of the answers you're after.
Why not mention the suburb, state, price, house details here on this website…. you never know, you might find a buyer!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hi Alister
Sorry to hear about your situation.
Selling the home yourself will reduce costs – however, it can also be quite stressful (which is something you obviously don't need right now). It might be best to speak with some real estate agents in your area – get a feel for how much the property is worth, what their fees are and also explain to them what your intentions are in terms of being able to rent it back. They may have investors on their books that would be interested.
Also, as Jac said above (and I'm not sure how this fits in with forum etiquette) but why not post the details on here.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Alister,
Sorry to here, just a thought but you may be able to set up a finance deal with the vendor, I would certainly be getting legal advise on how to get it happening, If you can you may be able to buy out the other half,( find out if half of market price or what's owing if not owned outright) or just do a fire sale on it whit maybe a tenant agreement attached, only idea's. hope it it of some help.
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