Suggestions for selling a home that is in my mother-in-laws name - Posted by Gregg Stevenson
Posted by Gregg Stevenson on February 27, 2000 at 20:49:08:
When my wife left her first husband, she bought a house but in her mother’s name so it wouldn’t be questioned in the divorce settlement. Her mother paid about $10,000 out of her pocket and we make the mortgage payments. The cost of the house to my wife was $47,000. We have someone interested in it . We told them the least we could take was $59,000. They want it really bad, but were denied a loan by a bank. I was hoping to just do a simultaneous closing but now they want to know if we can finance for one year then they’ll pay it off. I have several houses and read everything that I can get my hands on concerning real estate and deals, but whenever I try to think of something creative my brain just shuts down. I want our money, my mother-in-law wants her money and the people want the house. I’m going to suggest that they check with a mortgage company or another bank until one says yes, but in case they can’t get approved does anyone have any advice?