They paid a lot more than $50K.I wouldn't say ownership is financial suicide, but I would say a home is often the most expensive doo-dad we buy.However, if you do own it a long time you will end up with an asset that's quite valuable.

Had it just been for me, it likely would have been much shorter (just a couple pages), but still would have been tremendously valuable.

There's a lot of great people and lot of valuable info here.

A realtor can be a big help in pulling data for recent sales, a very valuable tool.

I find the most valuable and FREE info here on BP!

I hope you enjoy spending some time here with us and find that the site is a valuable resource for your needs.Best,Josh

Hi Curtis,Welcome to BiggerPockets, the most valuable REI website I know of.

However, in a normal or down market such as now, an agent can be very valuable and should be used unless the seller is committed to taking the time to advertise regularly, set up open houses and schedule showings for every interested party and also KNOW the market in their neighborhood well so that a buyer with an experienced buyer's agent cannot get you on all the points why your home is not worth what you, the seller are asking for.

Or, it might say "$1.00 plus other valuable consideration".

What you have right now is an equitable or valuable interest in the property.