However, if the seller is not willing to play ball, look VERY carefully at payment history.

The requirements for that are a lot more varied and the deal itself comes into play. 

OTOH, if they do have significant assets, this may come into play and make cause taxes to be generated for the heirs when they do die.The point is there are significant tax disadvantages to what they have done and they affect you (for sure) and them (possibly.)With that behind us, what's going on in the area?  

Overtime your rankings will increase with time if you play by Google rules.  

I have great credit thanks to the myfico forums and a total credit limit of $14,000 I have no debt and just pay my cell phone bill and the Verizon triple play package bill for my household which totals about $200 a month.

Risk tolerance & lifestyle will define the playing fieldHow close to the edge can you and the family tolerate?

I am working with a real estate attorney who is quite familiar with the legal side so I may not know all of the terminology and play-by-play but I'm not worried about the transaction going smoothly.

You only close when they can give you possession; otherwise you have to play games to get them out.

What is my ideal play here?

Marital property laws will be in play as well as estate matters, comingling assets can be avoided with proper legal guidance.