Ferris Bueller

So based on banyan's comment, I came up with a plan. The timing on the deal just happens to be absolutely perfect.

My parents are moving out of tampa and just signed a contract on their house, planning on closing in less than 2 weeks. So at that point, they'll have around 400k in their pockets. They're planning on saving that for a new house. But heres the kicker: it's going to be at least a year and a half before they even consider buying one. My mom graduates in may with her doctorate in psychology, but she has to do a year of internship (starting in september) before she can get her practice license. They're going to be living in an apartment for that year (they're going to be in hartford, ct, but the plan is to move to asheville, NC and buy a house after the internship is up) so they wont need that much money.

I talked to the bank thats foreclosing on the house and the speculative sell price at auction is less than 100k. So my thought is that they buy this house with some of the spare cash they have from the sale of their old house. Then, a couple months before her internship is up, my parents sell this house for flat market value (right around 300k for the area) and MAKE 200k off the sale, plus netting their original expenditure back. So in essence, they start off with 400k, spend 100k, and in the end wind up with 600k.

Now all I have to do is get them to agree to the whole crazy scheme!

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|TG-6th|Ferris Bueller

TurkishDelight

I hope it works out, money is a wonderful thing.....

As long as you have it.....

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|TG-Irr|Turkish