What are the steps in purchasing my parents home? They will carry the mortgage and we will make monthly payments to them.

Asked by Jmello72, 93013 Thu Mar 4, 2010

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John Juarez, Agent, Fremont, CA
Thu Mar 4, 2010
All the way across the country from Anna in Nassau County, New York to you in Carpinteria, Ca....Anna nailed the answer. If you and your folks have agreed on a price, terms, interest rate, monthy payments, and other details (some of which you are probably unaware) you need an expert to see that the paperwork is done correctly. That person is an attorney.
1 vote
Anna M Brocco, Agent, Williston Park, NY
Thu Mar 4, 2010
Consult with an attorney specializing in real estate for all related paperwork.
1 vote
Blanca Dover, Agent, Camarillo, CA
Wed May 8, 2013
I agree that you would want to an R/E attorney familiar with inheritance and elder law. Maybe also a CPA familiar with the tax and estate issues.

Blanca Dover, REALTOR

Century21 Hometown Realty
Cell: 805-427-5646

Website: http://www.blancadover.com
Web Reference:  http://www.blancadover.com
0 votes
Brian Hausner, , Los Angeles, CA
Thu Feb 7, 2013
This is a arms length transaction, which you should have an Attorney, and a Realtor, or in some cases, your attorney can do both.....Good luck..

First Security Lending, Inc
Brian Hausner
0 votes
It is not an Arms Length, we don't use Attorneys unless we have to, and it is two years old!!!!!!!!!!!!!
Flag Thu Feb 7, 2013
Bob Georgiou, Agent, Danville, CA
Thu Mar 4, 2010

Generally it is a "normal" sale but there are hitches. There are two options. One is seek the advice of a real estate attorney or the other is get a real estate broker to assist in handling the paperwork. In short you will need a contract, a note and deed of trust and the proper disclosures.
Web Reference:  http://bob2sell.com
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