I have a short sale that a buyer from out of the area wants to purchase. For various reasons, she is not able to move to this area until next year. She suggested that until she moves to this area, she is willing to rent the property to the current owners. Is there a problem with this arrangement? The buyer and the seller does not currently know each other.
This would then not be an Arm's Length Transaction as the seller would benefit from this arrangement and therefore from the sale. I agree with Bryant- move them out and find the seller's somewhere else to rent and the buyer new renters and you now have new friends and new clients. They may be buying down the road!
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