I have some elderly neighbors. Unfortunately one of them passed away a few months back. The children of the couple are reported to be moving the woman somewhere else. I happen to need a place for my parents as they are getting older. Home is worth about 400k. It is a bit more than I would like to spend for my parents but it is very very close. I'm not too sure how to proceed with this. I have the money to put down but it would wipe out all of my accts.
I'd start by contacting the children, the fewer people between you and the decision maker the better.
If you have a more specific question please let me know.
I've spoken with the son. I am trying to find comps for the home. It is a standard 3 bed, 1.5 bath home with 1800 sq ft and a 2 car garage. Lot is 9150 sq. ft. My comp issue is a detached shop with another 650 sq. ft. There is a wide range from 360-420k. My parents are not interested in what I've offered to do and I am not willing to let this deal go yet. There is a tremendous opportunity for me to get this since it isn't listed yet. The house alone would rent for 1800-1900 but I don't want to tie up 20% as a down payment. If I can get this under contract, then what? I want to buy it, but it isn't going to work for what I want it to do right now. I also don't want to be the ******* neighbor that took advantage of an elderly woman by flipping her home. I still have to live in the neighborhood.