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What do you ladies think we should do?

WE were going to sell our house to some friends of ours, we thought we were being nice by renting to own it to them, rather then 1 lump sum they would pay it off over the years because she is going to school and they have a 1 year old...well apperantly they wants us to pay the property taxs till they own it.....that was fine..considering the house will still be in our name , now she is saying she wants us to put insurance on the house incase of a fire or something like that..we were fine with that, we agreed that we would put insurance on the house....now she is saying they wants us to put a patio on the back as well....i mean omg come on....why would i do that if i am not going to be the one living here...can't they do that?I am really considering stoping this whole process and put it up for sale....its seems to me anyways that they are just making excuses now...what do you ladies think?

Answer Question
 
Anonymous

Asked by Anonymous at 8:09 PM on Mar. 2, 2011 in Home & Garden

Answers (11)
  • Get out of it fast.
    tootoobusy

    Answer by tootoobusy at 8:11 PM on Mar. 2, 2011

  • Bail and bail now. Insurance on the house...ok. You would want that anyway if it is in your name. Basically they are still renting, so taxes, ok. A patio?

    That's plum crazy.
    blu_canary

    Answer by blu_canary at 8:12 PM on Mar. 2, 2011

  • I agree with tootoobusy; get out of it.
    SWasson

    Answer by SWasson at 8:13 PM on Mar. 2, 2011

  • I say get out of that process with them, itll ruin your friendship, and youll end up being the bad guy. GL
    leksismommy

    Answer by leksismommy at 8:14 PM on Mar. 2, 2011

  • Never mix friends and family with business. It just doesn't work. If they really want to buy it they will find a way.

    QuinnMae

    Answer by QuinnMae at 8:14 PM on Mar. 2, 2011

  • By law, you have to have insurance on the house anyway because, technically, they're still renting from you. They should also have insurance on their own things inside the house, because the insurance you're carring on the house is only for your property, not theirs. If the house burns & they don't have renter's insurance, you are not responsible for their stuff. Because you own the house, you are responsible for the property taxes, but the rent you are charging should be high enough so that some of it goes toward those taxes each month. As for the deck, nope, you are not required to install one and, unless you provide permission, they are not allowed to build one themselves because they are just renters and you still own the property. To be honest, I'd put your friends on notice that this arrangement is working for either of you, therefore you're putting the house up for sale & they can bid on it if they want or move.
    mom2aspclboy

    Answer by mom2aspclboy at 10:26 PM on Mar. 2, 2011

  • I agree with the others.  Get out now and sell it.

    beeky

    Answer by beeky at 7:50 AM on Mar. 3, 2011

  • I agree with mom2 completely!
    JawgaMom1

    Answer by JawgaMom1 at 2:57 PM on Mar. 3, 2011

  • Put the house up for sale in a realtor's hands. Keep insurance on the house but let them know that they need to have insurance on their belongings and that is their responsibility. Do not sell to friends on a rent to own basis without having papers drawn up saying what will be or won't be done by you first.
    grammawjo

    Answer by grammawjo at 11:56 AM on Mar. 4, 2011

  • the patio just worries me...next it might be new flooring or something....i would try to end this now...
    LadyOsgood

    Answer by LadyOsgood at 9:14 PM on Mar. 4, 2011

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