Purchasing a home after a reverse mortgage

[Andrew Fawcett]

My grandfather had a reverse mortgage on his home, and he ended up living a lot longer than the bank expected. My father told me that my family was planning on selling it when the time came because none of his siblings had the money to buy it.

The house is located in Highland, California. It is a 2600 sq ft with 3 bedrooms, 2 bath and an office. There is also an 800 sq ft 1 bed 1 bath guest house on the property. I am putting together the numbers, but I haven't found great information on how to acquire property with a reverse mortgage. Do I need to pay off the reverse mortgage and assume the other loan? Do I get a loan for both mortgages?