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Grandmother from out of the country offering to buy a home with me, bad idea? (California)

Hello! My grandmother (naturalized US citizen that lives abroad and has most of her money abroad) doesn't have any property here because she doesn't have enough to buy something outright, and wouldn't be eligible for a loan, offered to joint purchase an apartment with me (i don't mind living with her) with a total budget of 650k cash. Is this a bad idea?

Additionally, my grandma is also on a list for 55+ housing that she would take once available at which point she would want to rent out the room, which I am also okay with.

Is it a good time to buy in full cash like this, if rate cuts do happen is it likely that the price of homes would increase with the added buying power people will have?

What would be some issues I would run into? What happens to closing costs etc.

Thank you so much for your time and help!

submitted by /u/suugami
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source https://www.reddit.com/r/RealEstate/comments/1djday6/grandmother_from_out_of_the_country_offering_to/
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