Advice Wanted - Sell the Lakefront House or Keep it in the Family?

[FlyingScot]

Originally Posted by castlebreakfast

This is interesting as this is the scenario that would be great for us if my folks sell the house - we'd love to be able to rent the place moving forward - may I ask if you set up a deal in the contract when you bought the place off them that ensured they'd be able to stay each year as renters? And is it ever annoying for you when you want to go up to your house and can't because they are there (not sure if you rent it out to others as well)? And also if you don't mind me asking - how much of a discount do you give them? Thank you

Now switching my view to 8gv's. You start with this and are injecting new complexity in the sale and your relationships. Some siblings will want to sell to whomever offers an acceptable price first. Many buyers have zero interest in renting. Keep in mind that the buyer is dropping a large chunk of change on an indulgence. Chances are excellent that he does not need/want renters.