Getting Married - Purchase home - Posted by Randy
Posted by Randy on July 19, 2003 at 16:03:04:
I have been following this board off and on for a long time. I am engaged and plan to get married as soon as my fiancee sells her house and she starts buidling her new one, which she already had a loan approved for before we meet.
Here is the problem. The building loan is contigent on the OLD house being sold. Problem is we want it sold NOW. So we can be married in the new house for Christmas. She has not been happy with her real estate agent and we want to get out quick. So, we decided it would probably work better if I bought her house and they rented from me until the new house was built, and then we could keep the property and turn it into a rental home for a while.
Problem is my credit is not great, so I am pulling a record to see if it was feasable.
Anybody see any legal problems this can cause. I don’t think there is.
Any suggestions on another way out? She owes 90,000 on the house and it apraises for over 100,000.