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Buying From Mother |
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Hi,
My husband and I currently rent my mom's house from her and we are interested in buying it however there are several things that need repaired...(roof leaks, gutters fell off, etc) How do we go about asking my mom to repair the damages before buying the house?
Thanks,
Michelle |
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If you are planning to get a new mortgage loan to pay for the house, your lender will probably require that repairs be made before they'll give you the money. Who would pay at that point would depend on what was written in the sales contract you had all signed.
A real estate broker could help you all negotiate a written contract, setting down the price you'd be paying as well as other matters like those repairs. Perhaps you can find one who'd work by the hour or for a flat fee, to help with the whole process. |
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Edith
Originally published on April 8, 2008 |
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