Purchasing a property? Ok...heres my situation. My sister has remarried and moved away from...
Ok...heres my situation. My sister has remarried and moved away from her house. My husband and I are currently renting it and a short time ago a couple of weeks ago, my sister asked if I wanted to purchase it.
My ask is....what should I pay the property when the property be ill-maintained? The driveway needs extensive work, a drain requirements to be placed behind the house because of standing wet when it rains, and the mat needs to be replaced because of a dog have a neurogenic bowel and bladder and soiling the carpet. Its newly where he laid after he be hit by a car. She did try to shampoo the runner, but I think it made it worse. This is a double huge on a permanent foundation, so I am not truly sure as to how it would appreciate/depreciate. Any insight would be greatly appreciated, especially from any realtors. Also, how should I dance about purchasing as far as figure out what to take rotten the price etc? Should I get quotes?
Thanks surrounded by advance!
Answers: Ask her if you can assume the Mortgage, you reward what she owes to the bank. This agency you get a property you own and can fix, repair or what ever to the property. Plus the equity. This also get her out from under this property.
You will obligation a lawyer to do the paperwork to transfer the Mortgage and deed to your entitle. Try this approach first and feel her out as far what she be thinking for a purchase price.
Hey Sis! Did you want me to assume your Mortgage?
There is a whole lot more to it than this, first the Mortgage have to be defined as assumable but this will open the dialog to find out, exactly what she might want.
first article i those arent very perfect properties to purchase...but they can go from in the region of 10,000 too maybe 80,000 for a nice one...and depending on what mode of land they are sitting on. Carpet can be replaced...and so can a driveway and any standing sea as well...assured thigns ot be fixed...if the foundation is good and the roof and appliances, furnace hot hose tank...etc...next its a good stable property. So...i dont knwo where on earth u live so i cant give an estimate...but perchance that will help :)