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Topic ClosedWhen do you cut someone off financially?

 
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iGotSunshine View Drop Down
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Direct Link To This Post Posted: Feb 03 2013 at 12:28pm
we're looking in Allen and McKinney. (suburbs of dallas) 
real estate so cheap even if u dont get a foreclosure u can get a nice home for 150k 
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Direct Link To This Post Posted: Feb 03 2013 at 12:32pm

I think I need to move to Texas.
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Direct Link To This Post Posted: Feb 03 2013 at 1:42pm
Originally posted by iGotSunshine iGotSunshine wrote:

we're looking in Allen and McKinney. (suburbs of dallas) 
real estate so cheap even if u dont get a foreclosure u can get a nice home for 150k 


damn just looked McKinney real estate up out of curiosity and found a 4 bedroom, 4k sq ft (lot is 10k sq ft) for $445k and it even has a pool Thumbs Up




Edited by sexyandfamous - Feb 03 2013 at 1:50pm
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Direct Link To This Post Posted: Feb 03 2013 at 1:43pm
A house like that in a good neighborhood in LA would be at least a million Cry
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Direct Link To This Post Posted: Feb 03 2013 at 1:49pm
Originally posted by iGotSunshine iGotSunshine wrote:

Originally posted by ThoughtCouture ThoughtCouture wrote:

Originally posted by Derri Derri wrote:

If I'm gifting someone a home, guess what? I'm letting you know what I'm gifting. The home, not the furniture and everything else for the home. Unless I was planning to furnish the home too, which...by the way...is entirely up to me to decide.

That's my whole point. No one is manipulating me into doing anything for them, just because we're related.

A gift is not a never ending thing
.
 
i totally agree...

trueeee 


Samone i dont think she "needs a home" she owns her mobile home 
s/o was going to help her upgrade but now she's doing too much 

i just feel that it's drama waiting to happen so i told him to look at this foreclosed home for 50k and put some walmart furniture in it. sign everything over to her and whatever she does with it, is what she does with it.





I think it's super nice that your s/o wants (and can) give his parents a home, therefore a better place to live but he needs to draw the line on how far the gifting goes.

First he needs to check how much insurance would cost for the houses he is interested. He needs to have an idea in case it does end up costing too much (a house has maintenance expenses, utilities, etc) so he should get a house that his parents can afford to maintain.

They make 5k but if something happens and one of them cannot work anymore, the house will become a burden for the employed one.

Then he needs to have the talk that other members suggested, where they are aware that the insurance and bills are paid by them, not him, because the house will be in their name.

This story might not end up well a few years from now without a little chat......
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Direct Link To This Post Posted: Feb 03 2013 at 1:49pm
well OP poofed--but this sounds like it could be more trouble then it's worth
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Direct Link To This Post Posted: Feb 03 2013 at 2:46pm
I agree with TC

(even tho I see some things have been poofed)

eta: are we talking about a Mom?


Edited by PurpleHaze - Feb 03 2013 at 2:46pm
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Direct Link To This Post Posted: Feb 03 2013 at 2:56pm
draw up a contract. 
you will buy the home, but not the furniture. and if thats going to happen...

make sure the home is move-in ready. so there won't be continued intervention by you because of repairs. make sure its a realistic home that they can furnish and upkeep. giving 2 people a 6/7 bedroom home with multiple bathrooms and rec rooms might pressure them to furnish it with money they don't necessarily have. 3 acres might be a problem if they aren't going to want to hire someone to keep up the property. 
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Direct Link To This Post Posted: Feb 03 2013 at 2:59pm
Don't do it

Don't even think it

Chuck them the dueces
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Direct Link To This Post Posted: Feb 03 2013 at 5:15pm
seem sweet of you just don't let them run over you, you know what's reasonable
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