Wife and I have been renting a property from landlord in Duluth Minnesota on a live in repair agreement for a few months. The three bedroom one and a half bath was built almost 100 years ago and has a lot of the shortcomings due to its age. Property requires a lot of work to bring it up to modern standards which are within my abilities to do from plumbing, electrical, and room remodeling. Landlord is getting a lot of cold feet letting you do some of the larger projects, our agreement is basically free labor, they cover materials (over $100) and we pay partial rent (70% of market).
I fixed most of these small and a couple moderate issues, and I'm at a point where landlord needs to start purchasing materials to allow larger projects to get taken care of.
Now that I know where the problems are and have a good feel for the place, wife and I are seriously considering making it a offer to purchase the property at the end of our lease instead of renewing. Landlord is already stated they are unsure what they want to do with the property so we're pretty sure if we make a reasonable offer they will go for it.
My questions are: before making an offer what else should I know or do, technically we would be first time home buyers what programs can we have access to or grants? What would be the best method for buying this house?
Submitted January 29, 2022 at 09:28PM by KaleMercer https://ift.tt/XyEkoKj0r
