Skip to main content

Buying my Parent's Rental

In Nebraska.

My parents are extraordinarily generous. I've been living in their rental house rent free for years. I've graduated and am now making good money and in this time I've realized I love this house. It's become my home, and they would be okay to sell it to me. It was an old rental and they've both retired and can't really keep up with property anymore, so I would likely be their last renter.

I'm not exactly sure how to approach this. I've never purchased property before. Do I still need a real estate agent? Are there any weird nuances with buying their house?

I want an actual mortgage to them at market value. My parents will try to undersell and I want to make sure they get their money's worth for this house. I also want to set up a proper mortgage so they can't refuse my money. They will try because, again, they're extremely generous which is normally very kind, but this is way too much money at this stage in their life to discount.

submitted by /u/KnowledgeableNip
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/ijl6d9/buying_my_parents_rental/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more