I have no hate for my siblings. But money does strange things to people. If it is legally spelled out and your parents & you are good with it, go for it. My parents did discuss it with my brothers and sisters and none of them were going to farm, so they were actually happy I was buying the homeplace
buying house from parents
- Thread starter danielyp29
- Start date
I have no hate for my siblings. But money does strange things to people. If it is legally spelled out and your parents & you are good with it, go for it. My parents did discuss it with my brothers and sisters and none of them were going to farm, so they were actually happy I was buying the homeplace
Doesn’t matter either way. We built our house and a lot happened during planting. We lived in a different town. I was asked to show up one day (I stayed away a lot so I wouldn’t micromanage it) to go over stuff. I walk in and find the wife’s brother wandering around the house. I knew he would be over bearing then.
I’ve never understood why someone would pay for something that they will eventually get for free.
If parents are selling on contract, the will could be worded that upon death the contract is considered paid in full
Perhaps...point is, a lot of questions need to be answered. Are the parents down sizing? Moving to an apartment? Donating the proceeds to the church. Traveling the world? Not an easy decision.
my parents had been thinking about moving to a townhouse for few years. If they decide to move and we're not interested, they'd just list it on the market. My wife and I are currently renting and looking to purchase our first home, but it seems like a lot of houses in the price range we're looking at needs a lot of work. My parents' house (with the down payment/equity help) would be in our range and wouldn't need as much work as others we've checked out. Since there's a good chance they'll move and sell the house anyway, and we're looking to buy a house, this seemed like an option worth looking into.
Greed does funny things to people, family or not. My mom has two older brothers, entire family had great relationships until grandpa died and one brother produced a document that he essentially tricked grandpa into signing that transferred about $750,000 worth of land to him. Other brother must've seen an opportunity, because after that he strong armed grandma into changing her will to give him around 95% or her estate. Nobody knew about it until grandma died, her most recent will before he got involved split things 50/50 and left out the first brother.....legal process is currently heading into year 3.
I don't understand it either, but it only takes one upset/offended/entitled person to screw up a family. In our case, I guess two....
Always change the locks to the house you buy whether you buy it from a stranger or someone you know even if you go through a realtor. You never know who has a key. In addition to the former owner there are relatives, ex-spouses, neighbors and even service providers.
When my father passed away his house was left to the three sons. Two of us that no longer lived near the town, let the younger son have the house with no strings attached. I don't remember the details, maybe we had some kind of $1 transaction or something to allow him to have the house free and clear. The younger one wasn't as well off as the other two of us. Us older brothers didn't want to mess with it. The younger one deserved it because living near dad in his final days, he had to deal with more of his aging issues.
