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Updated over 4 years ago on . Most recent reply
My mom is selling her house
My mom is looking to move out of the city limits of Philadelphia and move closer to the suburbs near my family.
I was hoping to purchase the home from her and use it as my first rental property.
She owns the property outright. 3BR/2BA Dow Home. Properties in the area go for $240k. They rent for around $1750- $2000.
She is looking to move into a 55+ community where modular homes go for around $185k with $600 in HOA fees.
I am trying to see the following
1. Is it possible to purchase her home with a realtor.
2. what is the best way to go about it so we are all in a good spot. I have an rental property and she doesn’t have to pay a dime where she is living.
I was thinking of buying the home below value and and then with the rent, paying the mortgage and the alps paying her HOA fees for her
Thanks in advance!
Most Popular Reply
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- Real Estate Professional
- West Palm Beach, FL
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If you want the best price net for your mom, have her list it with an agent in the mls.