Updated about 7 years ago on . Most recent reply
Creative way to buy from parents
I have been given the opportunity to purchase my parents house since they are moving out. I am planning on living in the house for a while. The house does need some work but I can do it all myself. They agreed to sell it to me for 250k. Similar houses on the neighborhood sell for 350k fixed up but my parents house has q view of a lake while others that sold for 350k do not. They still owe about 130k. I can obtain normal financing like a FHA but the payments are looking to be about 1900 ish a month which is doable but high. I was trying to see if there was some creative way to make this happen to not have such high payments and so it works out for both parties. Thank you in advance.