hopefully, i can get a few more answers from y'all.
my daughter has been renting the DW for the last 9 months or so. i've laid aside the rent she paid, with the idea she could apply it toward buying it if she wanted to. i didn't tell her about this, until i saw that she really was going to go to work every day and pay her bills on time. she has done quite well, and beginning to pay off some big medical bills she owes that have wrecked her credit.
i'm going to add her name to the title, leaving mine on it as well, so she can't sell it or move it unless i agree. i don't foresee me ever having a problem with her pulling it out and setting up somewhere else, or just selling it and using what she can get on a down payment for something else. i just want to keep my hand in... just in case. it's on my land.
there's so much helpful advice on this forum, i thought i'd run it by y'all to see what you think.
is there a place like kelly blue book where i can get an idea of the value? is it fair to charge interest, (basically i'm still paying the mortgage) or should i cut her a little slack and let it stand dollar for dollar? all of her rent will be toward paying for it. does anyone know of a good mortgage calculator, to get a better idea of what kind of terms i should set?
tia!!
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