Posted by Keith on September 10, 2003 at 16:34:53:
I’m new to all this but from what I’m reading (and I may be missing something) even if you offer her 53,000 for it, you are coming out ahead. You are able to give her $5K plus pay off what she owes, then sell it for what it appraises at, then you come out $37K ahead of the game ($90K - $53K). I guess it all depends on what kind of money she is wanting back and what market value is for a home like that is in your area.
Just my $.02.