20 Jul 1st post ever. In-laws insisting I buy their house ASAP. They are moving in a week and I need to take their house now. Florida
I’ve lurked for years, made my first comment last week and making my first post now.
I have been building my credit for awhile after a divorce left me with a bunch of hidden credit cards.
I’ve been renting a house with my wife from my mother and step father in law for about 6 years. Rent was cheaper than the mortgage for the first 5 years (400 to 500 to 600) but the past year we have paid their mortgage payment ($650)
They recently said they wanted to move by November and wanted us to buy the house for what they owed on it which is a great deal, they owe about 80k and Zillow even though isnt super accurate says the house is worth 187k. House needs some work so I’ll say 140k.
Instead of November they have opted to move in a week and insist we buy the house now. Wife and I combined make about 45k and according to google the mortgage would be even lower than what we have been paying in rent.
We would like to forgo the inspection, survey process with as little stuff as possible. We are first time home buyers in Florida so hopefully that helps. The only thing we want is to lump in a new fence with the mortgage which is about $1600.
My credit is about 630, my wife is about 730. I don’t know if I need a real estate lawyer, a realtor, or better in-laws.
Any tips would be appreciated.
Thanks Reddit! Please be good to me