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Updated over 5 years ago on . Most recent reply

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Butch Cantz
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My mom is selling her house

Butch Cantz
Posted

My mom is looking to move out of the city limits of Philadelphia and move closer to the suburbs near my family. 
I was hoping to purchase the home from her and use it as my first rental property.

She owns the property outright.  3BR/2BA Dow Home. Properties in the area go for $240k.  They rent for around $1750- $2000. 

She is looking to move into a 55+ community where modular homes go for around $185k with $600 in HOA fees.

I am trying to see the following 

1.  Is it possible to purchase her home with a realtor. 

2. what is the best way to go about it so we are all in a good spot.  I have an rental property and she doesn’t have to pay a dime where she is living. 

I was thinking of buying the home below value and and then with the rent, paying the mortgage and the alps paying her HOA fees for her


Thanks in advance!

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,510
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

If you want the best price net for your mom, have her list it with an agent in the mls.

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