Now he wants to give us the house!!
By katsmeow1213
@katsmeow1213 (28716)
United States
November 6, 2009 1:14pm CST
A few years ago my husband's parents bought a house for us to move into. We had to pay them rent for it of course, but we were told it would eventually become a rent to own situation.
Well 3 years later we were begging them to put the house in our name. It needed a lot of repairs in order for us to continue to live there. The in laws couldn't afford to fix it, and there wasn't anything we could do unless the house was in our name.
Because they wouldn't give us the house, we eventually have to move out.
For 6 months now we've been all cramped up in a tiny little mobile home. Not really a happy situation for any of us.
But now my FIL who is facing some medical issues, is realizing what a headache that house is. For the past few weeks everytime he spoke to my husband he'd tell him how he wished he could just get rid of it.
Today he finally told my husband he would give us the house. We wouldn't owe him a dime for it.
The only problem is that my FIL hasn't paid the taxes since he bought it, so those are about 4 years behind, and we'd have to cover those because he can't afford it.
We'd also have to fix up the house, and I'm wondering if it's really worth the headache. It is going to take a lot of fixing!
I love the location and neighborhood the house is in, and I am really hating where I currently live! I'm very excited about the idea of moving back into our old house, where we were really happy for the most part.
I'm just really worried about being able to afford the repairs, which are very extensive. I know there are grants and stuff we can apply for which might help. But I'm still rather nervous!
I'm definitly leaning towards taking the house and doing what we can with it though. Especially considering we'll probably never be able to afford a house any other way! We're broke and our credit stinks!
What do you think we should do?
3 people like this
15 responses
@froggieslover (3069)
• United States
6 Nov 09
Hello Katsmeow....I would say in all honesty that this is probably a pretty decent deal as long as you can be promised in some written matter that you won't have to make any payments towards this house other than repairs and back taxes. I know right now it may seem like a lot to take on but I don't think you can get a better deal because you have to look at it like this as long as you can afford to pay off the back taxes and than make the yearly taxes thats all you would have to worry about not like now where you are probably paying monthly rent on another place and this is a house not a mobile home where the appreciation decrease through time...the repairs that you do to this house will only increase the value and possibly after the kids are all grown can be sold for profit, the mobile home you have no matter how much work is done doesn't seem to increase in value.
If you feel that you and your husband can afford this place I would say go for it especially if you say that this may be your only chance at owning your own house. repairs can be down over the years mean while you can enjoy the house. Are the taxes maybe in a range to where you could possible take an income tax or something and pay them off and then maybe every income tax take some money and do some repairs? Is the house liveable and just needs some TLC or is it ready to fall? These are all things you need to consider but only your family knows what you can afford and what you can't but from the information you have provided it sounds like a decent deal especially if like you said it is in a place you like. best of luck =)
@katsmeow1213 (28716)
• United States
7 Nov 09
We are paying on the mobile home... it will be ours in like 15 years! And it's really too old to move, even if we could we don't have any savings or anything like that to pay for moving it. We'd be better off living in the house as is until it's fixed to our liking. I just really don't know. One minute I think it would be worth while, the next minute I'm thinking it's not worth what we have to put into it.
@katsmeow1213 (28716)
• United States
6 Nov 09
The house is in pretty bad shape, and so are the taxes! I'm not sure that it's ready to fall down, but it sure needs a lot more than just a bit of TLC. Before we moved we had decided we really didn't want it because of how much work it needed, but living in a mobile home has made us miss the freedom of our own house and our own yard and a neighborhood we can walk around! I think if we had to pitch a tent in the backyard we'd take it just for the property and the location. No matter what we'll always have the lot.
@froggieslover (3069)
• United States
6 Nov 09
Is the mobile home yours? Maybe if the lot is big enough you can move it to the property until you can get the house in living condition? Of course that will take money as well because of having to dig to get the well and sewage..but it may be something to consider depending on your situation.
@cynthiann (18612)
• Jamaica
6 Nov 09
I am happy for you in this but do not pay taxes or do anything until the house is legally transferred into your names. I believe the taxes would be up to date before this transaction can go through. Do not go if he has just left it to you in hiss Will as people can change their minds and make another will! Just be cautious. should you accept it? Yes you should and repairs can be done on a long scale basis. I will pray so hard that this becomes a reality and it is not hot air that is blowing. Blessings
I do not mean to throw cokd water on this but am really saying - just be careful
@katsmeow1213 (28716)
• United States
6 Nov 09
Nothing is set in stone yet, my husband did not even say yes to the offer yet. We are discussing and debating. We're both worried about the cost, but I think in the end we'll take it anyways. Yes it will be transferred into our name before we work on the taxes or the repairs. We're also going to set some boundaries about the in-laws visiting and attempting to control us!
@cynthiann (18612)
• Jamaica
6 Nov 09
I was concerned about the visiting part too as I remember that they would just turn up. who knows? In about 10 years you could make a decent profit from the house if it was upgraded. The possibilities are endless. I am so excited for you. Even though it needs repairs it is worth something and a low mortgage could be taken out for repairs and so you would pay th mortgage instead of paying rent.
@katsmeow1213 (28716)
• United States
6 Nov 09
I'm not sure we'd be able to take out a mortgage on the house because of our terrible credit, but that is an option to look into at least. It's just a little overwhelming right now because we know how much it needs!
@3SnuggleBunnies (16374)
• United States
8 Nov 09
I have a fixer upper so I can put my .02 in on this one I suppose. I would first need to know about getting the taxes brought up to date, could you make payments on it or would it need to be done in full before the transfer / sale is completed.
Now, my house... we were hoping to fix up and flip. But we were pg w/ #1 within a few days of closing and we only wanted to do one or the other and we got both.
You also need to realize how much the repairs will cost and analyze what has to get done first.
Honestly I need alot of work done, however..... we do the immediate stuff first and then hope for the best on the rest.
And if your credit situation isn't good this maybe your only opportunity to own a home of your own, even if it isn't the greatest but in time it could be. And it sounds like you were much happier in that house despite it all than crammed in the trailer.
Do what you feel is best. Weigh things out with a good ol' fashioned "pros & con's" list and see if that helps things out. Plus call and inquire on the back tax situation as well.
@3SnuggleBunnies (16374)
• United States
8 Nov 09
If you think you can handle the repairs then all you have to worry about is the tax situation...
I don't know if you rent or own your trailer but you'll have to take that into consideration as well... selling the trailer or buying out your lease ect.
We don't know anyone really who can do much of our upgrades or repairs. The one guy who does know how... he's a putz. If you may recall a discussion I had about him doing our roof & gutters. Well it's going on week 3 and the IL's garage roof is almost done... just need the gutters. Hubby was helping the guy and well he wasn't letting hubby really know when he was going to show up. *sigh* that's why the guy is a bargain!
I hope it works out for the best for you & your family!
@katsmeow1213 (28716)
• United States
8 Nov 09
My husband is confident we can do a lot of the repairs ourselves which would make it very inexpensive to do. I think we'll be able to enlist some help from friends to get it fixed up. We'll just mostly have to be able to afford the materials. I think we should be able to do it though.
@dawnald (85137)
• Shingle Springs, California
6 Nov 09
Well it sounds good. Is it too good to be true? Given the things you've said about your in-laws in the past, could there also be some hidden strings in addition to the costs that you're aware of? I'd be worried about that in addition to the money.
@katsmeow1213 (28716)
• United States
6 Nov 09
I think that us leaving, and him not getting income for the house, and now the town is getting on his butt about fixing it up, has been a real wake up call for him. He honestly has put it back on the market, but it's not selling. He told the real estate agent to sell it for just what he owes in taxes, he just wants to wipe his hands clean of this house.
1 person likes this
@SomeCowgirl (32189)
• United States
8 Nov 09
I think that you should take the house and try to repair it the best you can. Can you figure out a budget with someone to pay the back taxes on the house? Just try to do your best with it, though could it ruin your credit even more if you have it in your name and have to pay the back taxes? Try to pick up more work... Rake leaves while you can for elderly folk... and maybe shovel their driveways when it starts to snow.
@SomeCowgirl (32189)
• United States
9 Nov 09
Well!
I'm sorry if I have somehow offended you but I am merely giving you suggestions!
@katsmeow1213 (28716)
• United States
9 Nov 09
Rake and shovel for the elderly???? First of all I'm not a teenager, and secondly, I have 5 small kids, what am I supposed to do with them while I'm doing work for elderly people?
Thirdly, I have in the past done things like that for elderly people, BUT I REFUSE PAYMENT!! Things like that are known as "FAVORS". Shame on any adult who would actually take money from the elderly!!
1 person likes this
@frankiecesca (2489)
•
7 Nov 09
I know I would take the house if it was being given to me for free - especially if you hate your current living situation. The best way to think about it is that yes it may take some time but, in the long run you'll have a permanet home you can build into a place you'll love even more than before! : )
@katsmeow1213 (28716)
• United States
7 Nov 09
With our current financial situation, the state of the house, and the fact that we'd need to pay 4 years of taxes makes me worry about the thought of having the house taken away from us since we can't afford it. It would be an awful shame to move out of a rather stable home into one that we're uncertain of the near future. In the long run, yes, it can be a great home... but that's after we've come up with some money to turn it into a great home.
@mtdewgurl74 (18151)
• United States
6 Nov 09
I do hope you will be able to get the grants and help if you decide to take it. Just be sure that it isn't held over your head at a later date...that is what happened to my mom and she moved because of it..started telling her what to do and who she could have at her home and who she couldn't..what she could do and what she couldn't..If you are paying rent maybe take that money and put towards the taxes will they let you pay so much a month till it is paid in full? I know all about low credit..I don't have bad credit..I just don't have any..or any credit cards or anything that would count towards making it go up..we are basically a buy and pay with cash as we get it..I live in a trailer but with 5 kids gotta be a tight squeeze and not alot of playing room in there..which will suck in the colder weather. I am really rooting for you to be able to get it fixed up and livable so you and your family would be able to have a home of your own..Good luck with those grants if you decide to pursue it
@katsmeow1213 (28716)
• United States
7 Nov 09
We lived there while the in-laws owned it, and it certainly wasn't a great situation. They did think they had the right to tell us what we could and couldn't do with the house, and they also thought they could stop over anytime they wished... but honestly that's just them. They do that now even though they do not own our trailer.
There are a lot of pros and cons to owning this house, and I'm just really nervous about it all. I know technically we could live in it now, but how long the house will stand without thousands of dollars worth of work is uncertain. I don't want to put it in our names only to have it be condemned, fall down, or taken away because we can't afford the taxes.
It's a scary situation and either decision could be the wrong one, so I'm almost too terrified to decide either way.
@jwfarrimond (4473)
•
7 Nov 09
The first thing that you should do before you accept is to get a structural survey done to make sure that there are no serious structuaral problems in the foundation as such things can be very expensive to repair. But even so, I'd be inclined to accept because even if the house is beyond economical repair, the lot itself has a value and you could perhaps demolish the house and move a trailer on to the site.
And as others have said, repairs can be made over a period of several years as funds became available.
@katsmeow1213 (28716)
• United States
7 Nov 09
I already know there's a lot of structural damage, as I said, we lived there for 3 years so I know how bad the majority of it is, which makes this decision that much harder.
I know the pros and cons, I just can't decide which out weighs the other.
@jillhill (37353)
• United States
6 Nov 09
Since it's a freebee I think I would take advantage of it...there are tons of programs right now that have lots of leftover money to help you fix it up)semcac)....you would be saving on renting a place so some of that money could also go towards the repairs....depending on how extensive they are.....also there a some carpenter right now that still haven't gotten back into the swing of things since the recession and might work at a discounted rate.....hopefully it all works out for you!
@charblaize (1026)
• United States
6 Nov 09
I would first want to see your name on the title of the house, no strings attached. Would you be able to pay the taxes? Would the repairs be able to be done if you live in it? If you done the repairs, would it improve the value of the home and then get a loan or mortage to finish the repairs; that is if you can't get any help elsewhere--grants, family, friends, etc. If you liked it before, you could always improve it and make it better for you and your family. I know with not having credit and being broke is hard to find a home. I am in the same boat and I would probably jump on this just to say I have a home and don't have to pay rent. Just put the rent into the home.
Could call Extreme Make-over!!! :))
good luck to you and your family
@katsmeow1213 (28716)
• United States
6 Nov 09
I wish extreme makeover would come fix the house!
Affording the taxes and repairs is my worry. I'm not sure if that would help us or hurt us more.
We could live in it now... we did before, but we want to do some repairs before moving back in. They'll be rather cheap and easy. It does need foundation work and a new roof among many other things, but these are things we can do overtime.
@jesssp (2712)
• Canada
6 Nov 09
I would recommend getting a professional over there for an estimate on the big stuff (foundation, roof etc) just to get an idea of what kind of money you would be looking at and how feasible the repairs would be. I would think getting a free estimate wouldn't be a problem. Then depending on what you learn it may very well be worth taking it on. I don't know if it's possible for you guys to get a home equity loan but if it is you could borrow enough to cover your big repairs and the back taxes and have a very low, very manageable monthly payment. Just make sure there's an iron clad agreement in place and you see your names on that title before you even think about moving box 1 (of course you already knew that)!
@katsmeow1213 (28716)
• United States
7 Nov 09
I did get an estimate for the foundation while we lived there, and it's far too expensive. We're thinking we can probably get away cheaper. We can do the roof ourselves or find someone else that will do it cheap.
I'm just worried because the house has a lot of water damage, I feel like every board in the house needs to be replaced. The wiring should be replaced. The heating definitly needs a lot of work. It's currently a 2 family and we want to eventually make it a one family and that will be expensive.
Plus on top of all that is the taxes.
I don't know if we can qualify for (or afford) any sort of loan. So right now the whole situation is just pretty scary. Without knowing exactly how we're going to afford the repairs and taxes, I feel like taking it would be a bad decision. But not taking it would also be a bad decision.
@dmrone (746)
• United States
6 Nov 09
Hi, katsmeow1213! I would say take the house. It is an investment that when repaired will be well worth all the work. Also, if you and your family were happier then it will be worth it to be happier. It may take time to fix the house, but just think of how it will be when you are finished. Good luck.
@Louc74 (620)
•
6 Nov 09
Hi, Katsmeow! I've just had an awesome idea for you to potentially get your repairs done for nothing or next to nothing, but you would have to be the first to do this, if you did it. Could I PM you with it??? If I put it on here, somebody else could take it and run with it.
@MissKatPegasus (155)
• United States
6 Nov 09
From someone who had never owned a house or had to deal with fixing one up. I come from a different angle. I am so excited about having a home one day so I've been doing endless research about which is more economical: buying a move in ready house or getting a fixer upper. This is the question I pose to you: are the repairs more expensive than the house is worth and can you use that money towards a downpayment to a move in ready house?
My other question is: can you live in the house now or will you have to wait until the repairs are done? Also how much are the taxes going to cost you? You don't want this house to put you under! Can you stand living in the mobile home until you can save up enough money to pay the taxes/fix the house or are you about to burn the thing down? Answer these questions honestly and then you might be able to make your decision more comfortably.
@katsmeow1213 (28716)
• United States
6 Nov 09
As I said in the discussion, our credit is really bad, so coming up with the money for a down payment is pointless because nobody will ever give us a mortgage. For now this is our only option if we want to own our own home, unless we're willing to wait until all our kids are grown, which we're not.
We will need to do some fixing before we can move in, the rest we can do as we go. I think we plan on paying the taxes as we go as well. The town is not picky about that, there are a few buildings in the town that are more than 10 years behind on taxes and the town isn't doing anything to them.
@gwoman2 (710)
• United States
6 Nov 09
Respectfully I must say, I wish someone would give me a *&^%^% house! I own my own and it's beautiful...but...cost of home...138,000 and that's not including water, sewer, garbage, electric, and oil. If you can live in it while the repairs get done, you're very fortunate...You should thank your in-laws, they really are doing you and your family a favor. Appreciate:-)
~G~
