Hello everyone. I'm not sure if this belongs here but I figured it was a good place to start.
Basically my SO and I have been renting a home from one of my family members. Said family member bought the house with us in mind as renters, and we even went with her house hunting.
Well her mortgage is up for renewal in 2022, and she says she wants to use the rent we've been paying her as our downpayment on buying the house off her, at the same price she paid plus the cost of some renos and updates; basically making the situation rent-to-own.
This is incredibly generous, of course. There's no way we would be able to save that amount of money in that time span on our own. But before I agree to it, is there anything else I should be aware of? Is there any reason not to take her offer of transferring ownership?
Submitted May 16, 2020 at 08:13PM by takeonzach https://ift.tt/2LFvHNb
