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^^c^9aicEstate
Eileen M. Day —Atrow
SELL AND STAY
Techniques that work in commercial/investment real estate are being used today in residential real estate. One of them is the sales-leaseback method. Here’s how it would work to the advantage of all parties.
Say you own your own home or condominium. You have a large equity built up, perhaps it is paid for infull with no mortgage. You plan to move in a couple of years, but would like to sell now, have the sale out of the way and the money in the bank. You also want to remain in the same residence until you move at a later date.
You tell your story to a good, local Realtor (like us) and he or she will find an investor who would like to purchase such a unit for the investment (future appreciation and tax benefits) and one with a built-in tenant. You, as the tenant would pay the rent plus all the expenses to run the residence, such as taxes, utilities, maintenance, and insurance. No different than before, except your money is now in the bank or in another investment and your new owner has, in essence, a management-free, moneymaking investment.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House. ^Washington, SVA. 22747. Phone: 675-3400. We’re here to help.
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