QOTD Monday

Mrs_W_Pookie · June 2011

Another house question. Would you ever purchase the home of someone you know? A friend? An enemy? A frenemy?

ClaireDunphy · June 2011

If I loved it & the price was right, yes.

Madisen · June 2011

Yeah, I don't think I'd factor the current owner of the house into my decision to buy a specific house or not.

jacmdb · June 2011

Yes. If it was the house we wanted. I don't see how it would be any different than buying from a stranger.

ashleemw · June 2011

I'd have to really love the house and/or be getting a good deal. But it would be a little awkward when it came time to negotiate if it's an enemy or friend and you're trying to get a deal.

clseale13 · June 2011

jacmdb:
Yes. If it was the house we wanted. I don't see how it would be any different than buying from a stranger.

Have you ever seen that show "Moving up?" If a lot of demo or changes are done people tend to get their panties in a bunch & get protective/defensive of their old house. It might be awkward if the friend that sold it had issues like that and they were at the house all of the time.

I think the whole thing is silly and would definitely buy it if it was the right house for us...it just made me think of that show.

clseale13 · June 2011

ashleemw:
I'd have to really love the house and/or be getting a good deal. But it would be a little awkward when it came time to negotiate if it's an enemy or friend and you're trying to get a deal.

Yeah, that's the part I'd dread. That's why (even though I'd do it) I wouldn't love the idea of selling my house to someone I knew either.

mon.petit.chou · June 2011

The biggest problem I can foresee is my husband would want to "help out" our friends and offer more than the house is worth. And I could see myself feeling resentful of the friend depending on what the final price ends up at.

Now, if there was another random owner in between my friend and I, I would have no problem living where someone I know has lived.

FWIW, I do rent my house to friends and that has gone well... so far.

Temp103605875001677 · June 2011

If it was the right house for us, then we would put an offer.

ClaireDunphy · June 2011

mon.petit.chou:

The biggest problem I can foresee is my husband would want to "help out" our friends and offer more than the house is worth. And I could see myself feeling resentful of the friend depending on what the final price ends up at.

ILs bought a house from GMIL that was willed to her & a friend.

They paid WAY too much & everyone knows it. I think GMIL feels bad about it sometimes. Then she looks at her buckets of money & realizes that she's retired quite comfortably.

Kristin&Adam · June 2011

The negotiation process would definitely be awkward, but I wouldn't let me keep me from a house that I love.

dollfinn19 · June 2011

Though I'd like to THINK there'd be no issues, given past financial experiences with family..... I'd say no.

PantsOffDanceOff · June 2011

I would never do any sort of business/deal with money with my ILs, everyone else could be fair game.

duncanpowers · June 2011

mon.petit.chou:

The biggest problem I can foresee is my husband would want to "help out" our friends and offer more than the house is worth. And I could see myself feeling resentful of the friend depending on what the final price ends up at.

That is something we dealt with when we sold DH's house to his brother. He sold it for half of what it was worth and not much more than what it took to pay off his own loan. Thankfully SIL insisted that they include in the contract that if they were to sell the house in the future, we would receive part of that profit up to what the house was currently worth, so that we wouldn't resent them for making a boat load of money off of it, which they certainly could.

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