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Shawn Hirn Shawn Hirn is offline
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Default Buying a house with parents

In article ,
Banty wrote:

How close is your cousin to your parents?

You really need a *disinterested* (as in, no interest either way) lawyer.
Insist on it. If your parents kick up any more fuss about it, consider that
a solid warning that they would be difficult to deal with on a day to day basis
if you go ahead.

Also, consider that some of the motivation for this is to have you be a
caretaker in their declining years. With you sharing quarters day to day you
inevitably will be the primary person involved. Consider further that this
may be a reason your sister is so quick to endorse the deal. This all may be
fine with you or even something you may feel honored to do. But you need to
think ahead and be aware.

Like someone else said, only you can answer these questions. On paper, it
makes all the sense in the world. To live it out depends on your whole family
dynamic. But the legal part of it - do it, and hire someone totally outside
the situation for it.


From a financial point of view, my parents' offer makes a lot of sense.
Your comment about using my cousin to do the legal work is well-taken.
Finding an attorney who is not a relative is not a big deal. I don't
know why, but I know quiet a few lawyers socially, so finding
inexpensive legal representation is easy.