Possible deal in the works

[Gabriel Orduna]

Hello everyone, 

I need some advice. I have a situation that I want to take advantage of but I’m not sure how to go about it. My wife’s family owns a home that they would like to sell for 690,000.  I don’t qualify for the loan amount yet but will within the next year or two. They are not in a rush to sell but I am about to speak with the “key decision maker” about how we can come to some sort of agreement where I can eventually buy the house and they would still get a good deal. I thought about asking if I could rent the house from them until I can qualify for the mortgage, sort of a rent to own situation, I also though about assuming the current loan, but I don’t want to have the conversation with him without having a few options to offer him ready. I also do not want to try to take advantage of him either.  I want us both to feel like this was a good decision for both parties. Can anyone provide me with some advice?