Wednesday, August 10, 2011
Buying a house from my mother inlaw, help plzease?
My wife's grandfather passed and we moved in three years ago. We have been paying rent to my mother in-law and are ready to buy. I am so green when it comes to buying a home and need a little help. First off we would get a great discount, the house would cost 80,000. The house is easily comparable to similar house in the neighborhood that are listed from 115,000 - 135,00. Now i have contacted multiple loan agencies and have that started. i guess my real question is how/can i get a loan for more than 80000 to do improvements (windows, doors, and floors). Can my mother in law build in improvement allowances, or gift me equity, thanks in advance.
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