Xerocles
Loving the herd life
"grandparents home which there no telling when we could move in,"his grandparents home which there no telling when we could move in, foundation issues, pumping issues, the over hangs (covered porches) the wooden post are no longer connected to the concert foundation they move freely and don't really hold any weight so major safety issue. we also would need to update/change alot of things for instance the carpet that through out the whole house including in the kitchen, dinning room pretty much every room except the one of the two bathrooms. also no telling what other issues its 40+ year old home that they have let break down with no upkeep in maintenance oh and it needs a new ac unit the repair tech we have had to come out multiple times to do temporary fixes i believe this last year technically (i don't remember the problem) also another major problem. is one of their daughter lives with them so that's an issue as well. lots to think about granted it has five acres, but we wondering the amount we would have to put into it first. The other concern is that his aunts might fight that we get the house/land in court saying their parents werent mentally sound. lots consider and not much time to do so.
do you have a pressing need to be out of your current house quickly? If not, then I would say it's time for a Sunday evening sitdown. ARE THE GRANDPARENTS COMPETENT? Have all parties present. Hubby, aunts, grandparents. Air it out. Make sure EVERYONE knows what's happening. If the aunts have heartburn about this, best to know about it now. Backdoor agreements between you and grandparents INVITES problems down the road. Maybe even prepare, in writing, what your understanding of the deal is, and after the discussion is over, get everyone to sign. Will fare you well if there's trouble down the road.
Physical problems with the structure? Depending on the seriousness of the foundation problems, everything else seems minor...and probably less costly than the downpayment portion of a conventional mortgage. New pump, new AC, and new carpet? Done.
Does the one aunt HAVE somewhere else to live? I see her claim being the most serious. "I cared for them when they were old and infirm, and now they sell the home out from under me."
Some families balk at "breaking up the homeplace" idea. Put in a clause giving right of first refusal to family members should you ever decide to sell.