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Selling our house to our daughter
sammyst
Posts: 1 Newbie
Hi there
Our house is worth 200K. We have 40K left on the mortgage and we want to downsize and be mortgage free
Our daughter wants to buy our house off us to live in but she can only afford 150K mortgage.
Can we sell it to her for 150K, pay off the the 40K and use the 110K to relocate?
We would be happy to let her have it cheap and maybe owe us the balance when/if she can afford it.
Our house is worth 200K. We have 40K left on the mortgage and we want to downsize and be mortgage free
Our daughter wants to buy our house off us to live in but she can only afford 150K mortgage.
Can we sell it to her for 150K, pay off the the 40K and use the 110K to relocate?
We would be happy to let her have it cheap and maybe owe us the balance when/if she can afford it.
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