Friends of ours get behind on their mortgage payments - cutting foreclosure so close everytime. This time, the foreclosure caught up & they could not stop it. Their house was foreclosed on and sold at public auction. The real estate agent now has it back on market. Would it be wrong for us to consider purchase?
2006-06-12 14:45:08 · 10 answers · asked by offerofopinion 2 in Family & Relationships ➔ Friends
To rent - possibly to the friends.. Fear is mismanagement of money will result in us having to evict, but otherwise friends have to pack in move in couple of weeks - house is already sold back to real estate agent to dispose of...
2006-06-12 14:59:08 · update #1
It's naturally heartbreaking to lose your home. I think they would always be reminded of probably the worst day in their relationship - foreclosure. I don't think it would be proper for you to buy the house, unless you were buying it back for them...)(
2006-06-12 14:56:06 · answer #1 · answered by MissKathleen 6 · 1⤊ 0⤋
One thing to consider is that they need the house to sell at a fair price in order to satisfy the mortgage. If it sells for less, they will still owe the difference. Discuss this with them and see if they think you should make a offer.
If you just go off on your own and purchase it without informing them, they may feel so awkward it will cost you the friendship. It may make them feel that way anyway, so decide if the house is worth losing the friendship.
2006-06-12 14:51:06 · answer #2 · answered by oohhbother 7 · 0⤊ 0⤋
You should talk to them about it. If you have money, have you thought about buying the home and renting it out to them or allowing them to make the mortgage payment to you? It certainly would be a very nice thing to do for people who obviously need it.
If you want the house for yourself then you should really talk to your friends and see how they would feel about it.
2006-06-12 14:51:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
i'd do the little house on the prairie thing and purchase it and let them move into it and make payments to you.you keep the deed but do good for someone at the same time.
2006-06-12 14:47:42 · answer #4 · answered by wizendwizard 3 · 0⤊ 0⤋
your friend might take it to heart that you would be owning the place that they called home so if you are worried that might happen talk to them you never know they might feel better about a friend living in a house full of memories than some stranger
2006-06-12 14:49:41 · answer #5 · answered by just4 me06 1 · 0⤊ 0⤋
If you have a real reason to purchase it, such as renting, or have family move in, no. Your friends will not approve no matter what.
2006-06-12 14:49:48 · answer #6 · answered by Pancakes 7 · 0⤊ 0⤋
are u buying it to live in? if not, buy it, then rent it out to them. if ur planning on living it it if u buy, then i want to know what is the reason u want their house? but if it's a sweet offer, i say why not. they'll probably be mad no matter who buys it.
2006-06-12 14:50:55 · answer #7 · answered by Anonymous · 0⤊ 0⤋
That's a tough one, the best advice you are going to get regarding that situation is to talk to your friends.
2006-06-12 14:48:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
To keep your friendship you need to find another house to buy.
2006-06-12 14:55:23 · answer #9 · answered by rachellynn200 5 · 0⤊ 0⤋
for them or for yourselves? are you buying for them to live in or for you to live in or to rent??
2006-06-12 14:48:39 · answer #10 · answered by captures_sunsets 7 · 0⤊ 0⤋