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Updated over 6 years ago,

User Stats

145
Posts
180
Votes
Rich S.
  • Central, MN
180
Votes |
145
Posts

Owner in Care Facility- Family needs to sell...

Rich S.
  • Central, MN
Posted

A rather distant relative is looking to unload a property.  The owner of the property is in a care facility and will not be coming out.  The home used to be my Great Grandfathers, so it has some sentimental value to me, but I also believe would make a worthy investment.  Lots of deferred maintenance, but I'm confident could cash flow for many years.  Anywho, I have no experience dealing with this process.  Can the family even sell?  If so and I purchase, do I have to worry about the property being taken back?  I want to help, if the numbers work, but don't want to be surprised later and get burned because they owe the care facility or whatever.  Can anyone offer experience or advice in this situation?  Thanks for any and all thoughts.