U
/u/No-Artichoke3210
Guest
Long story I don’t want to get into, but I’ve had to pick up and relocate to another state to take care of my dad last year. My home on 4 acres has a tiny home where my ex lived the last 5 years (paying me rent) and has been looking after things and our animals while I been gone. I’ve owned the house 22 yrs without him paying shit basically but this is his home.
Basically I have to resort to reverse psychology now in order to get him to keep up with the repairs and improvements needed on the (old) house, as this is my only asset but get “it’s not my house” excuse. I’ve had a feeling/plan he would come in handy if I had to jet so the situation works for me: I get the f outta literal rural hell and live my life finally and he can move into the big house and rent the tiny house to a buddy. Or sell it and put money towards mortgage.
I may come back one day or when I’m elderly, no idea but it’s my back up plan. I have 50k left on the mortgage. Can’t sell, won’t sell- especially in an uncertain economic future of the country.
Ok so I want to draw up a rent to own % of the house contract where after 5 yrs of payments straight to the mortgage w/a small buy-in he gets like 15%. I will match both to help pay down the mortgage sooner. He will do repairs etc (former contractor) and we will split any big costs. So basically he’s gotta do sweat equity on top to complete the agreement. The house/property is valued at 200k (given he gets it in order). It’s the rural south, beautiful and peaceful but not much else- hence cheap real estate (trade offs, am I right lol).
All I will say is he owes me big time and this is a way for him to help make me whole while I finally get to escape this horrible place while not losing my assets. Any tips or suggestions on how to go about this type of contract? TIA
submitted by /u/No-Artichoke3210
[link] [comments]
Wanting to create a “rent to own (small) percentage” contract between myself and my ex.
Continue reading...
Basically I have to resort to reverse psychology now in order to get him to keep up with the repairs and improvements needed on the (old) house, as this is my only asset but get “it’s not my house” excuse. I’ve had a feeling/plan he would come in handy if I had to jet so the situation works for me: I get the f outta literal rural hell and live my life finally and he can move into the big house and rent the tiny house to a buddy. Or sell it and put money towards mortgage.
I may come back one day or when I’m elderly, no idea but it’s my back up plan. I have 50k left on the mortgage. Can’t sell, won’t sell- especially in an uncertain economic future of the country.
Ok so I want to draw up a rent to own % of the house contract where after 5 yrs of payments straight to the mortgage w/a small buy-in he gets like 15%. I will match both to help pay down the mortgage sooner. He will do repairs etc (former contractor) and we will split any big costs. So basically he’s gotta do sweat equity on top to complete the agreement. The house/property is valued at 200k (given he gets it in order). It’s the rural south, beautiful and peaceful but not much else- hence cheap real estate (trade offs, am I right lol).
All I will say is he owes me big time and this is a way for him to help make me whole while I finally get to escape this horrible place while not losing my assets. Any tips or suggestions on how to go about this type of contract? TIA
submitted by /u/No-Artichoke3210
[link] [comments]
Wanting to create a “rent to own (small) percentage” contract between myself and my ex.
Continue reading...