Buying house from dad - Posted by Krisie

import · August 14, 2003, 11:08am

Posted by pete on August 14, 2003 at 13:47:04:

If you need the contracts to do it yourself, contact me at my e-mail address.

thanks,

pete

import · August 14, 2003, 11:08am

Buying house from dad - Posted by Krisie

Posted by Krisie on August 14, 2003 at 11:08:43:

I am interested in buying my dad’s house. I currently live in the house and he is moving out in 5 years. There is about $75K owed on the house. He will sell anytime within the next 5 years, so I’m trying to gather as much information as I can. He wants to sell the house to me and he also needs money for himself to buy another property. We were wondering what the best way to go about this is that would save us the most money. Also, should we do it ourselves or get an agent?
Also, my dad has pretty bad credit.
Thanks for all your time. I don’t know much about real estate.

import · August 14, 2003, 2:46pm

Re: Buying house from dad - Posted by Mike (NY)

Posted by Mike (NY) on August 14, 2003 at 14:46:07:

If you were to set up a lease with option to buy, you would pay dad 12 months rent in checks, and then all you need to do is refinance your way in as you have equitable interest.

Best wishes,

Michael Pine
email: Michael_Pine@yahoo.com
AIM: MortgageBroker71