Need real estate/renting advice

[The_buster]

We were looking at moving into my grandmas house as she is moving into a place she doesn't have to take care of. My mom mentioned we could come up with a contract that is similar to a lease to own set up. So we can pay her payments until Britt graduates and gets a job, which should be a year from may. My grandma owes around 29k on the house, she payed 30k for it but then had to have the roof fixed and some other repairs made. She has been there for about 5 years and her payments are 250 a month, that includes insurance and taxes. What would be the best way to go about doing this? The reason behind us wanting to move is the house we have now is in need of major repairs, hardwood floors are broken and have gaps in some places and the exterior needs lots of work, also the house is half the size we have now so utilities will be cheaper and its not in Newark. The last part is good because it puts us closer to our families by about 20 minutes, which will help when Bella starts school and for holidays. Any helpful info is appreciated. I tried to include all info I thought would help if you need anymore let me know, Thanks!

[Rustlestiltskin]

You just can't make this shit up folks.

[The_buster]

im not... just wanting outside input/thoughts

[LJ]

How many bullet holes need repairs in it

[DTA09]

Write up a land contract deal. Fairly simple and can be filed downtown to make it all legit.

[The_buster]

Write up a land contract deal. Fairly simple and can be filed downtown to make it all legit.

 

ok thanks for that!

[Jewtoys]

You just can't make this shit up folks.

 

This can't be real

[Cordell]

The kind of shit you come up with, I'm not surprised in the least anymore with how your threads go. It's amazing that anyone gives you a serious answer anymore.

 

My serious answer- Finding a basic rental agreement shouldn't be hard. Fill it out, both parties sign it, do it in front of a notary.

 

My not very serious answer- Thank you Buster for not living in government housing, but maybe you should get her car in the house deal too. Win win for you.

[SPL_Josh]

Seems like a straight forward question aside from everyone on the forum busting his balls.

 

Land contract

[The_buster]

The kind of shit you come up with, I'm not surprised in the least anymore with how your threads go. It's amazing that anyone gives you a serious answer anymore.

 

My serious answer- Finding a basic rental agreement shouldn't be hard. Fill it out, both parties sign it, do it in front of a notary.

 

My not very serious answer- Thank you Buster for not living in government housing, but maybe you should get her car in the house deal too. Win win for you.

 

getting another car this summer. just need to save some money back to do so. probably looking at an accord 96-98.

[Mensan]

Buster, you should really consider a job in the Armed Forces. Go Army, get a job in the motorcade, learn some skills and not have to worry as much about money and shit. You might even be a career man. Honestly dude.

[o0n8]

as said before, simple land contract

 

or

 

Have your Grandma check with the bank to see if you can assume the loan. You take over the loan, make the payments and own the house. That way should anything happen to Grandma you don't have to worry about your living situation and you can build some equity.

 

or

 

See if she'll sell it to you for what she owes (assuming it's worth more)

[cybe]

actually. nevermind.