question from a subject to seller - what if the trustee doesn't rehab the house

General Real Estate Investing
1

I got a new question from a subject to seller last nite that was concerned about his wife’s house. The question was "what happens if the the seller deeds the house over to the trust and the trustee takes his time or doesn’t rehab the house? That was a new one to me.

In this case, the house is worth about 150k in a normal market, with the buyer taking it over for the payoff at 114k. It needs about 7k in repairs and will be held as a cashflow property.

I assigned it to a third party for a modest fee and was able to come up with what I thought was a decent answer.

How would any of you have answered this concern, and what are your thoughts?

2

After you sell a property that needs repairs, why worry about what the buyer does with a property you no longer own? Once the property is sold, it is up to the buyer to determine whatever repairs are needed for his planned use of the property.