E
ebla
Guest
My wife and I are renting a home owned by my Father-in-Law and would like to purchase it. Unfortunately, we live in an area where the cost of living is extremely high. The appraised value of the home is well over $1 Million dollors. I make a reasonably good income at $85,000 annually and cannot afford to purchase this home at the appraised value and certainly could not afford the property taxes, as well. I think my father-in-law would be willing to sell us the house at a substantially lesser price-maybe even what he paid at $430 K. My questions are as follows:
1) Can he sale us the home for less than the appraised value?
2) Can we finance the loan through him under his terms-maybe a 60 year loan?
3) Can we purchase the property without triggering any kind of higher property tax law? The current taxes are $4000/YR . They could go as high as $12,000/yr if the assesor assigns it at the appraised value of the property.
Any reply would be greatly appeciated.
Best Regards,
Ed Blaschke
1) Can he sale us the home for less than the appraised value?
2) Can we finance the loan through him under his terms-maybe a 60 year loan?
3) Can we purchase the property without triggering any kind of higher property tax law? The current taxes are $4000/YR . They could go as high as $12,000/yr if the assesor assigns it at the appraised value of the property.
Any reply would be greatly appeciated.
Best Regards,
Ed Blaschke