Advice Needed - taking over remainder of loan/buying from mom

[Oscar Buendia]

Hello everyone,

Mother in law has a condo in CT with about 37K left to pay on it, nearby similar condos have been appraised at around 90K to 140K. My wife and I are trying to find out the best way to take over the loan or buy the house since her mom has gotten sick and is getting partial disability but cannot cover the mortgage and cost. Currently she is paying $900 mortgage @ 8% APR (bought back in the day and never refinanced). I've ran the numbers and I can get the mortgage with HOA/insurance/taxes to 400-550 with 8K downpayment. What is the best way to get control of the property and save some cost? Could we get her to transfer the home to us and we refinance (f possible avoiding closing costs)?or do we just have to do it through a Real Estate agent? I am pre-approved for the loan amount and if anyone has any advice it would be greatly appreciated. Thank you.