 Does a landlord has to notify the tenants if they raise the rent? |
| I just renewed my contract, and they told me that the rent was being raised because of the market. Also, the said that they sent a letter, as a 'courtesy', to let some tenants know the rent ... |
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 Landlord is a jerk and lives next door. We can't afford to move right now abut he will not make repairs.? |
| I could call the county and they would enforce the law, maybe, but have been known to be paid off. We have lived here over 5 years, paid rent on time, never caused problems and have helped them out. ... |
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 Question about what to do while viewing open houses, first time? |
| This weekend I will be looking at several houses that are for sale. I have never done this before. I am wondering what is proper to do and not do. Can i open the peoples cupboards and closets etc. T... |
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 My Sister Signed A 1 Year Lease on a Rental Home - Now the Owners want to change It & go up on the Price!? |
| The Owners says that the price he quoted for the rental property was too low and that he was about to go on vacation so he got excited & gave them too low of a price! He wants to go up 300.00 &... |
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 Can you split a mortgage? |
| I am not married and this seems like the best way to protect an investment. For example, if my boyfriend and I want to buy a condo for $300,000 can we each have a mortgage in our names for $150,000 ... |
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 Can you get kick out your apartment because of...? |
| Can I get kicked out my apartment if, while the managers are showing an apartment, I tell the "new tenants"---"Did they tell you about all the cars getting broken into, and how they ... |
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 Where, on line, can I get a property value for free? |
Additional Details
Ok, I got Zillow.com, any others?... |
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 Dispute with Landlord - over letting potential buyers view the house? |
In January, our Landlord informed us that he was planning to sell the house this August. We declined the offer of buying it ourselves and have now bought somewher else.
The dispute comes ... |
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 Are me and my family entitled to housing benefit? |
| I'm currently waiting to be housed and was wondering if me and my family would get housing benefit. I don't work cause I'm a full time mum and my partner is working self employed but ... |
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 Can someone get a mortgage with bad credit? |
| Can you get a loan with a 500-520 score and no money down? In Chicago il, im makin like 40k a year 8-10,000 in bad debt on my credit report.... |
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 How can I set a rent value on a house? |
| Would like to get maximum rental income, but not sure of method to calculate. The property is rural, has over 5 acres and large house with park like setting. Thank you.... |
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 I need to move back into my property that is currently being leased, can I brake the lease? |
| I own a home in California that is currently under a 1 year lease. I live out of state due to my husband's job. Sometime within the next year he will be transferred back to CA. We need to ... |
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 I am buying my first home. asking price and my price.? |
| i am interested in buying a home listed for 139,650. i have been doing some research of my own and i know all the precautions, but i am wondering if i make an offer, how much lower should i ask? i ... |
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 How Can I Move Out Of My House? |
| Im only 20 I cant get a full time job so I have to put up with only working part time to bring in money, i still live with my parents but theres never really been a relationship there recently its ... |
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 Can the owner of the house where I'm renting a room enter into my room without telling me? |
| I never signed any papers to move in, the verbal agreement was that I would pay $700 a month and it would be month to month, no utilities just $700 for the room. Well after 3 months of being there I ... |
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 Is this a good idea or not? ? |
| My boyfriend & I are looking at a house to buy and we have been trying to run through all the possible options. He came up with this one and I'm thinking its a good idea but I want to see ... |
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| How do i buy the house im renting that is in Forclosure? ? |
| My boyfriend and i just rented this house just to find out from our nighbor that the house is in forclosure, I asked my landlourd if this was ture and she had said she didnt want to say anything to ... |
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johnpublico | How can I help my daughter buy her first home? |
My wife and I want to help our daughter and her husband buy a home. They currently have poor credit and even with us providing the downpayment, they could not get a mortgage themselves. We thought we'd buy the house and let them gradually buy it from us. How can we set this up? Lease w/ option to buy? What about improvements they make to the property? |
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PatV
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One of our biggest mistakes in our almost 30 yr marriage was letting my spouse's parents help us buy our first home. It ended up costing us thousands, after we moved 2 yrs after purchase and had to rent the home out instead of selling just to keep up with the mortgage payments.
While their intentions were "well-meaning" it was poor financial planning on our part and selfish on their part, to be involved in something so personal that we couldn't afford.
They probably want your help, we did back then, but do not realize that saving for a home is much better planning than rushing into something they may not want.
You are their parents, do you really want to become their landlord & mortgage broker? Money ruins family relationships.... |
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Ethan
 |
Buying the house would help them.
Get them to pay you guys the installment on a legal document.
You can still be the owners and you can decide whether you want to gift it to them or their children later on or even sell it. |
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Diaboyos
 |
I would advise against this. I have seen so many plans like this falter and fail. If you do decide to purchase the house and rent it to them do you plan on keeping it in your name until they completely pay it off or not? You don't need any specific plans for how they pay it off on paper unless you think they might not be able to pay one day in the future which is why I'd keep it in your name until they completely pay it off. That way if they stop paying or can't pay you won't have trouble getting them out of the house. If they make improvements it won't effect anything until you or they go to sell it again (hopefully) years from now. And unless the improvements add to the heated square footage of the house it won't add to the retail value of the house anyway. It would make it more desirable and help it sell faster but wouldn't add to the value without more heated area square footage. This is always a risky situation and I understand you are trying to help them which is nice. Is it not an option to help them regain their credit to let them eventually purchase a home by themselves? This is a safer option. |
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Ivan M
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not knowing much about realestatel,i would ask an atty or cpa familar with real estate., and ask if we could put house in both family names. my wife and i should be able to pay for the improvements.my wife and i could make an annual gift to each one of them.lf we kept some onership of the house, we could pay the mortgage.and taxes; and take tax deduction on them.I would first check out with CPA . |
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Blue Blue Blue
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You can get the mortgage and let them repay it little by little. It's the easiest solution. In Italy it's easier this way...simply because the documents and guarantees they ask are horrendous!!! I don't know about your country.
For the home improvement...maybe they can get a loan, since it's a smaller amount.
Also, for home improvement you can save by doing a few things yourself. It won't be perfect...but there's more satisfaction when you make something all together. And you'll get to spend more time together!!! |
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Kottonmouth King
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Just let them find their own place that they can afford with their own money. |
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Jon H
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First off. Be Careful.
But you might want to do a option to buy contract with her. Buy the house, and have your attorney draw up a 24-26 month contract. Make sure the lease amount per month is the amount of the mortgage or slightly more. Then when they go in to the bank for the loan they can show a successful payment history in the amount of the up coming loan.
Make sure you have an attorney draw up and review the paper work. You don't want this to come back and hurt you financially.
Good Luck |
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Form
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Both your daughter and son-in-law should have strong future credit like a proof of bank statement and conformation job so in future you won't have problerm gradually selling the house to them. |
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joeysmom2
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what ever you do....DON'T CO-SIGN... |
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SusanS, Incognito
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Would you take the mortgage and just have them pay you the monthly payments? That was the first thing that came into my mind, but it wouldn't help them establish good credit for themselves. That is a conundrum. |
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