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The Watercooler
For anyone astute about real estate....could use some help
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<blockquote data-quote="Hound dog" data-source="post: 539208" data-attributes="member: 84"><p>I agree, he's going to have to talk to the builder as he's the actual owner. Might be he'll understand and help your son find a way out of it......maybe getting it sold or up for rent from someone else so he no longer has to foot the payments.</p><p></p><p>Usually, now this is what I've heard from my sis who has sold several homes this way, it works similar to renting........but if the one leasing has to leave, house reverts back to the owner. She's had that happen a couple of times as well. Only once did someone just up and leave. The other one I know about explained the situation (they'd lost their job) and sis and her husband told them not to worry about it, just do what they needed to do and they'd find someone else, which they did........and that person stuck it out until they had it paid off.</p></blockquote><p></p>
[QUOTE="Hound dog, post: 539208, member: 84"] I agree, he's going to have to talk to the builder as he's the actual owner. Might be he'll understand and help your son find a way out of it......maybe getting it sold or up for rent from someone else so he no longer has to foot the payments. Usually, now this is what I've heard from my sis who has sold several homes this way, it works similar to renting........but if the one leasing has to leave, house reverts back to the owner. She's had that happen a couple of times as well. Only once did someone just up and leave. The other one I know about explained the situation (they'd lost their job) and sis and her husband told them not to worry about it, just do what they needed to do and they'd find someone else, which they did........and that person stuck it out until they had it paid off. [/QUOTE]
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For anyone astute about real estate....could use some help
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