Need advice on buying a home

[Eric Knight]

I am about to be a first time buyer, don't have the money for a down payment but I have very good credit and the bank has agreed to finance me 100%. The problem I have is my niece wants me to buy her house at a deeply discounted rate in fact she's even willing to take a $30,000 loss to to sell it fast, it's a very nice spacious 4 bedroom home for $130,000 in an area where houses sell for close to $200,000 but it's in Chicago where they have gone crazy as far as property taxes are concerned. I was looking to move just over the border to Indiana where the cost of living is cheaper. I'm not sure if take the good deal or go to Indiana where I'd rather be. Your thoughts

[Lumi Ispas]

@Eric Knight , if you are looking to buy for yourself to live in the house, make sure you buy what you need long term. With your niece's home, if you have the time you could buy it and flip it in the spring. Then with the profit, you'll have your down payment. The only issue is that your niece might not be happy you made the money and not her.

Out of curiosity, why would she sell at more than 15% discount? She could sell it at a full price, pay a Realtor and closing cost and still make a ton of money!  And we can definitely help her! :)