INherit Home / Buy Early ? What Should I Do? Pls Give Opinion
HI
I have a grandmother who just turned 77 years old and has her ranch completely paid off. I really would like to own this home. Whats the best thing to do? If she leaves the home to me or my parents, they will have to pay $30K to the NJ State.
She took out a reverse mortgage about a year ago. IF I were to purchase the house from her now, she would loose her reverse mortgage money.
1. buy the house from her now and live with her until she's dies.
2. wait til she dies and see who inherits the house and then offer them money.
Bottom line is I want to own a home like this and have no mortgage. Or find a way to get a good deal. Or if I'm gonna pay $250K for it (what its worth) I rather give that to my parents vs. interest to a bank. hear me?
thanks for your opinions. You guys are smart, I know you'll have a way to get me into the house.
Stein
Comments(0)