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Who needs to authorize a rent with option to buy contract to make it valid? transaction is between family?
My great grandma is considering rent with option to buy with us. It's family, but she was thinking maybe this would be good in case something happened to her. She doesn't want to sell right away, and we would like to rent, possibly buy in the future. Found example contracts, but unsure if they are considered valid. Do you need a realtor or notary involved to make it valid? Any help would be appreciated. We are in Wisconsin. Thanks!!
Public Comments
- notary should do it
- Contact a real estate attorney and have them draw up the paper work for you and your grandmother. It may run you anywhere from $250 to $500, but if you use them for the closing (once you do the final purchase of the home) they may give you a credit for the title work. Going this route should give other family members peace of mind that you aren't taking advantage of your grandmother.
- I would hire a lawyer just to be sure everything is legal.
