Another question on buying a house...(long)

Kpsbabyzoe

Sorry I'm being AW-y about this, I just feel like I need a few opinions that are directly/emotionally involved with this situation.

DH and I are hoping to buy my grandparent's old house because it's right across the street from my parent's, and it's a great first property for us.  But, my Aunt D is kind of a biotch...she's the executor of the estate and has been kind of a tyrant since my grandparents passed away.  All the other siblings have agreed to our low offer, but we haven't even asked my Aunt D yet because we're nervous as to what she'll say.  I wrote this letter to her, can someone just read it and give me feedback.  Do I sound foolish?  Am I being nice enough?  I don't want her to know I think she's a biotch..that would obviously complicate things.  And, I need to her to feel like our low offer is reasonable because we discovered this property is really hard to finance, and we can't swing much higher because of the higher mortgage rate.

"Dear Aunt D,

 

N and I have been considering buying Grammie and Grampa?s house across the street with the mobile home.  We feel this would be a great opportunity for us because it?s so close to Mom and Dad, but also because we know that Grammie and Grampa would be thrilled that someone in the family would want to buy the house.  

 

A couple weeks ago we went to speak with someone at (x), where Nathan works.  They told us that typically with him being an associate we can get a fantastic mortgage rate with them that would be about 1.5% lower than the national average!  We were really excited, and started sharing more about the property and asking how we could begin the process of being pre-qualified for a loan.  However, when we told them about the mobile home being there, they said that would automatically classify it as an ?investment property? since the opportunity to make money from the second home on the property is there.  This would result in any mortgage we obtained from them being a much higher rate than the national average.  But, they also said that because the second home is a mobile home they will not finance it.

 

We went to the Maine State Housing authority next to see if they would help us finance it.  They said they wouldn?t either because of the mobile home Both Maine State Housing and (x) said the only way we could qualify for a loan with an affordable mortgage rate is for the property to not have the mobile home there at all.  We are so disappointed because as this being our first home, we aren?t in a position to take on a mortgage with an extremely high rate.  Not only that, but we were discouraged since we liked the idea of the mobile home being there as a rental property to help supplement our mortgage payments.

 

After a lot of phone calls and a lot of work, we have found a place that will finance it for us even with the mobile home on the property.  Before we move forward with the application for the mortgage, N and I would like to know if you would even consider an offer of ($$$$) for the whole property.  I realize that this is far lower than the asking price, but because we are family and we know Grammie and Grampa would be so happy, and because we are having to take on a slightly higher mortgage rate than we would at (x), we hope you will consider it.

 

I look forward to hearing from you.  I hope both you and M are doing well."

 

And if you read that whole thing...here are some Coconut Nutella cookies! TIA!

 

atmidwoodtobe

I think that sounds very polite and reasonable!

FX that you are able to purchase this home!

klbowie

It sounds great to me!! It sounds like you did your research and have presented her with the facts.  In addition, you played a little on her heart strings and hopefully that works.  If everyone else agrees I hope she sees how reasonable it is.  GL and thanks for the cookies.

andreagb

I think its a good letter.  My only suggestion would be (since she is a little bit of  that maybe you could "tug at her heart strings" a little in the letter...for example in the first paragraph saying something like

"N and I have been considering buying Grammie and Grampa?s house across the street with the mobile home.  We feel this would be a great opportunity for us because it?s so close to Mom and Dad, but also because we know that Grammie and Grampa would be thrilled that someone in the family would be living in their house and be able to some day raise a new family there."

I don't know if your Aunt grew up in the house but maybe she's a little sentimental and would be more considerate if she could "picture" you, your husband and future children living there?? 

Good luck.  We just bought our first house, its a stressful process but soo worth it in the end.

ShellBear+

I think the letter sounds fine and it will nice for you if she agrees.  However I don't think she is a necessarily wrong if she says no to your lowball offer.  After all it is money and she is not obligated to get screwed on it financially just because you are family.  Sorry I don't know if this is a reasonable offer or super low.  Hopefully she will be happy to have an offer and at least consider it.  Nothing creates more family drama than money unfortunately.  Good luck