Saturday, November 10, 2007
Its so bad
Just heard a news story about this older couple. They have a house in the suburbs they have been trying to sell for $399,000. The house has been on the market for over a year. They want to sell so that they can move to a retirement community. Well as an incentive to get the house sold, part of the deal will be if you buy thier house, when they die they will reimburse you the $399,000!!! And then even threw in thier retirement home. So if you buy this place, when these old peeps die, you get your money back and a new retirement place.
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? That makes no sense.
ReplyDeleteIf my math is correct, you buy their home for what, CASH?? Then at their death(s) they give you all the money back? Plus you get to keep the $399k home, AND they give you an additional home? So, to get rid of a $399k home they will eventually pay YOU at least $1 million dollars in cash and property?
Will that be in their will and this deal be written up by a lawyer?
There is a word for that: R-E-T-A-R-D-E-D!
G$
my friend is offering one year of free mortgage to help sell his home... ~pap
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