Sacramento

[stangoldsmith]

I want to buy my father's house to assume his mortgage (he can't pay it).

I want to buy it at what he owes, about market value anyway.

He will still live there.  I will inherit the house, fix it up, and keep it in the immediate family for the future.

How can I do this without paying a bunch of people to print out forms for me to sign?

What is the easiest way to go about doing this?

Should I speak to/or do I need a financial advisor or something like that?  I don't have one, but certainly could use one not only for this transaction but also for my other finances.

Thanks.

[joeinvestor]

Choose a broker and call/ask what s/he charges for drawing up a contract for you. Since the house isn't listed by anyone and you've already agreed on a price (whatever the outstanding mortgage is), these brokers normally charge $500 to do the contract for you. Otherwise, Google it and you can learn how to draw up your own contract, submitted it to the bank, and go to the county recorders office to record the deed. that's it...

[stangoldsmith]

Thanks!

[LeonardVice]

I think you do not have to buy the property especially when your father will give it to you and you inherit the property. You just have to wait until your father give you the authority to own the property, or if your father still needs to pay fully on the mortgage before finally giving it on you then I suggest you should help your father in paying the mortgage.