What I take from the stories here is that OP's friend's parents transferred a house to a lady in exchange for taking over the payments.The lady stopped making payments and filed for bankruptcy with $7k left on the loan.

I think we can achieve the goal of a family-friendly community and having a house that I can get paid for by using a co-op method.  

So, I am in the middle of purchasing a co-op unit for a flip.

There was never a mention of a co-op fee for the buyer agent.  

@Jeff S.To your OP, it IS possible.

Can I revive this thread as my questions are so closely related to the OP. 

Shame on you.To the OP- I may be a little late in response... but your idea to bring an oxford house to the community is wonderful.

we don't close on land till permits are approved it's how we write our contracts. no it was 700 sq ft. who the hell builds 4500 sq ft as an investment The op asked about a 4500 sq ft specifically. 

I have an attorney for the OP if he want's to give it a shot. $1800.00 plus court fees. 

It's not a good look for the property.It appears you missed that the OP’s offer contained an appraisal gap.