All Forum Posts by: Jeremy Morgan

Good Morning - We are looking to invest in our first property and came across an interesting opportunity. My mother put us in touch with an old family friend that is looking to sell her recently deceased father's home - the catch - her estranged, 90 year old grandmother lives in the home with her caregiver. Upon her father's passing, our friend inherited the home and the more that $19k in back taxes that the grandmother refuses to pay until the deed is changed to her. Now, our friend would like to wash her hands of the property (and her grandmother) and reached out to see if we would be interested in purchasing. She recently spoke with her lawyer and was provided the following options: 1. She sell the property as an "estate" but it will be a process to get the grandmother out, 2. She can sell the property after changing the deed into her name to help herself out with the taxes but this will likely be an even longer process to remove the grandmother, 3. Sell the property occupied at a discounted rate which would take care of the back taxes and then we could purchase (at the discounted price) but we would be responsible for the tenant - making her pay rent OR eviction. Now, we are not in the business of evicting the elderly BUT realize this could be a potential investment opportunity. Are there any other creative options we can explore in order to purchase this home with a win/win scenario for both parties. We are looking for some guidance on this matter. Has anyone ever experienced a situation like this in their real estate journey? 

Some additional info: The potential seller did not give us a price but mentioned the Zestimate is around $255k but she is eager to rid herself of the property and would like for us to just make an offer. The property is a twin built in 1964, needs renovations (possibly), 1,200 sqft, 3 beds/1.5bath. Any advice is appreciated!