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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/
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