The first thing to do is to get a local Realtor to look at the home and do a market analysis to determine the true market value. In many cases these days, homes are worth considerably more that the sellers think. Then that listing broker can go over the options available. Many of which will be among the suggestions and advice listed below. All the best.
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
First move I would make is to find out if momâ€™s loan is assumable. If it is, then apply to assume it. DO NOT have mom quit claim deed to you without prior lender approval. That will trigger the due on sale clause in her loan if there is one. Good luck,
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.