Quote:
Originally Posted by dlish
grancey, why would you be evicting him and his kids? i thought you said he owned the other house that got gifted to him?
hes probably using this house as an investment property by the sounds of it
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He wants to move into this property and, I assume, sell the house he is living in. But that didn't come up in our conversation so I don't know for sure. If he did sell the house he is living in, moved into the subject property and couldn't make payments, then that is where eviction came up.
---------- Post added at 09:24 PM ---------- Previous post was at 09:09 PM ----------
Quote:
Originally Posted by Cimarron29414
grancey,
I was actually coming back here to type the same plan as kutulu proposed, and now I don't have to. I feel as if there is a piece of the picture we are missing. What is his proposal exactly? Is it that you sign the property over to him, and then he will make payments to you of X per month until you get your third? So, in effect, you don't risk losing any money, you simply lose your inheritance - a sum which is not yet realized?
So, his credit is shit and he can't borrow the money from a bank and wouldn't anyway because he thinks he's entitled to an interest free loan from you. He would also be "purchasing" this property from you during the lowest property values in 20 years - how convenient. What does he intend to do with the house he's living in? Is he going to sell it? What's he going to do with that money? (Hint: he's not going to pay you with it.)
Quite frankly, why would you enter into a business deal with anyone when you accept 100% of the risk and get absolutely zero reward for that risk? What was that phrase? Don't loan it to him? That's the one!
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You have raised so many interesting questions. He never mentioned what he wants to do with the house he is living in or what he would do with the money if he sold it, assuming that he would and could sell it.
We never got into a detailed discussion of how this would work. He mentioned us financing the house for him, and that is as far as we got. He did not offer any details. So, you are right, there are pieces missing. I wasn't prepared to ask questons when he called me as I was caught off guard.
---------- Post added at 09:27 PM ---------- Previous post was at 09:24 PM ----------
Quote:
Originally Posted by Lindy
It sounds like you've been intimidated by Big Brother for a long time. You need to do more than just "get him to back off a little bit." Lindy
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Agreed
Quote:
Originally Posted by Lindy
As an aside, you could offer to buy him out instead. Then you won't have to deal with this scenario again some time in the future.  You really don't want to be in a long term relationship (business or personal) with someone that you can't trust.
Lindy |
He wants to live in the property, so buying him out is not what he is after.