I am currently looking to buy my Grandmother in laws house. We have agreed a fair price based on similar properties in the area.
The house is valued at £55000 I have 5500 deposit so looking at 90% LTV.
The mother in law wants to give us £5000 back to assist with our fee's and to modernize however she is currently in Care and her pension doesnt cover the full costs hence selling the house. Her current care cost short fall is nowhere near the worth of the house but wondered.
Can she do this does it need to be written into contracts what are the potential issues if any we would face
The house is valued at £55000 I have 5500 deposit so looking at 90% LTV.
The mother in law wants to give us £5000 back to assist with our fee's and to modernize however she is currently in Care and her pension doesnt cover the full costs hence selling the house. Her current care cost short fall is nowhere near the worth of the house but wondered.
Can she do this does it need to be written into contracts what are the potential issues if any we would face