deciding whether to buy mother-in-law's house

United States
May 21, 2007 10:43am CST
Has anyone ever purchased a house from their parents or in-laws? My MIL wants us to buy her house, but I'm hesitant. It's worth quite a bit more than ours, and we couldn't afford the asking price. She would make a deal with us, and perhaps we would offer to take care of her if she needed it in the future. I'm worried how her other children (7 altogether) would feel about us buying from her (at a low price) and what they would expect from us, as it has been the location for family parties forever. It is a nice house, bigger, in a nice neighborhood with good schools. What will it take to feel like it's mine? We'll have to completely remodel the kitchen and one of the bedrooms. Anyone have thoughts on this? I just don't know what to think about it all.
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