He said he was on the phone getting the bids for the painting and other work, told me the bid, and said he has three graduate students ready to sign on the house, and also there's a mother with two daughters in college who is also interested.

The good news is that my mother is the owner of the house, and until am ready to buy it she won't sell it unless i officially "pass" on it.

My name is Jerry and this is my first post.Near the height of the RE boom in 2007, I bought my mother-in-law a house (so she wouldn't have to live with me) where she lived until Nov last year when she passed.

Anyways all the contracts were in place and the title work was being done, then 3 days before closing the attorney stated the property was also owned by somebody else.The other owner is an heir of the seller's mother's ex husband.

This happened when her mother died.

mother. ;)

I inquired about a home that the seller is selling (his mother lived there and passed away) who did quite a bit of fixing up such as new roof, kitchen, some flooring, painting, it actually looks good.

If the property is gifted to you, your basis will be the amount that your mother paid for the house.

The father is a cook, the mother doesn't work, and they have a small child.Any rehabbers or investors experience this in the past?

I'm currently living with my mother and pay 300.00$ only for rent and help out with groceries, light, and water about another 350.0$ total.