- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Purchasing a home from parent/family
Posted on 9/24/20 at 4:59 pm to cgrand
Posted on 9/24/20 at 4:59 pm to cgrand
quote:
ts called owner financing.
This, but don't do it OP. Horrible idea, especially for a house. If something goes wrong with one of your finances it will end extremely poorly.
Normally Owner Financing works out much better for the Owner then the buyer, but that's because the risk is high and the buyer usually doesn't have other options.
Unless you are buying it from someone with a lot of money that has little chance of needing this money I would highly recommend a 3rd party lender so one of you is free and clear.
1
Posted on 9/24/20 at 5:12 pm to baldona
family is different, though.
my parents are owner-financing their house to one of my cousins. my parents don't need the cash right now, it gives them peace of mind that they are helping a family member, they can leave all their shite in the attic, they'll have a place to stay when they come back to BR, etc, etc. my cousin gets a 5BR house for her family thats well appointed, for less than she pays in rent
in the right situation its a good deal for everyone
my parents are owner-financing their house to one of my cousins. my parents don't need the cash right now, it gives them peace of mind that they are helping a family member, they can leave all their shite in the attic, they'll have a place to stay when they come back to BR, etc, etc. my cousin gets a 5BR house for her family thats well appointed, for less than she pays in rent
in the right situation its a good deal for everyone
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News