hi, my brother has proposed buying my father's (widower) home, and building a granny flat for my da to live in.
my brothers situation is, he bought a house about a year ago with his gf, house value is around 300k.
my father's house, which has no mortgage is worth about 500k.
there's 5 kids.
he suggested just switching over the mortgage, esentially getting a 500k house for 300k.
as you can imagine, this doesn't sit right with the rest of us.
would anyone be able to suggest a fair proposal that works for everyone?
thanks.
my brothers situation is, he bought a house about a year ago with his gf, house value is around 300k.
my father's house, which has no mortgage is worth about 500k.
there's 5 kids.
he suggested just switching over the mortgage, esentially getting a 500k house for 300k.
as you can imagine, this doesn't sit right with the rest of us.
would anyone be able to suggest a fair proposal that works for everyone?
thanks.