Need advice in an owner to owner sale.
My wife and I are looking to purchase my grandparents home that they have paid off for $250,000, we have already been preapproved and got the letter emailed today. My grandparents are okay with selling at that price, while my wife and I are obviously looking to get the most beneficial deal for us, while not trying to screw over my grandparents.
We were told 19,000 in estimated closing costs & down payment.
I guess my long worded explanation boils down to this question. What is a fair amount to ask my grandparents to cover of those costs ? If they were going to sell the house, on the market with a realtor, with those fees included as well as any potential buyer negotiations, is it fair to ask for half ? For more ? Or less? And advice is appreciated.
We live in Oklahoma and are doing a FHA 30 year fixed rate.