Basically this is the situation. My wife and I want to buy my parents house. They own the house, they still have a mortgage on the house, and we want to buy it for what they owe on the mortgage. They get to keep living in the house for free, and we get an investment property at a great price. Can we buy the house directly from them? Does it need to be listed on MLS? Does there need to be an agent involved? We obviously don’t want to list the house or sell it to someone else, because then they would have to move out, which defies the purpose. Can we just buy it directly from them? How does one go about doing that?
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