|Am I getting screwed? Very long......beware
||[Feb. 24th, 2006|12:14 pm]
The Question Club
I think my husband and I are being taken advantage of by his parents. Here's the abridged version of what's going on:|
We are currently "renting" a house from them. Supposedly we are renting to own, but there is no paperwork stating this, no legal contracts, nothing.
We pay the, $500 a month for "rent", which each month is supposed to be taken of the lum sum we are paying to "buy" this house. I hope this is making sense.
Well, here's what bugs me. The house is in grave condition. Terrible condition. The city would probably condemn it if they were notifed of it. Some of the major things wrong with it are: the basement leaks profusefly at any hint of rain. The kitchen counter tops are actually growing live mold because they are so old and went uncared for for years and years. I have to wipe down the counters every day and put towels over them to keep it at bay. The people who lived in the house before we "bought" it peed on the carpets (they were complete animals) so the carpets have many stains from human waste.
So why did I agree to "buy" it? Because my inlaws said they'd have the place fixed up before we moved in. Well, that never happened. They've put zero money into the place since we "bought" it in August 2005. ZERO.
Here's their side: They used to rent the house out for $750 a month (a 4 bedroom, one bath ranch with a huge yard, 3 car garage) and are charging us only $500 a month. They let us live rent free for two months last year when I was looking for a job.
My side: No one would in their right mind would rent or buy the place in that condition. Yes, we only pay $500 a month, but the total purchase price they want is $75,000. The house was assessed at $50,000 in it's current condition. So basically we are paying for the condition it could be in if they did what they said they were going to do and fixed it up, not for the condition it's actually in. If they put it on the market, no one would pay for the condition it "could be in if it was fixed up"!!
Plus, we have no legal ownership in the house. We're slowly paying for the repairs PLUS the monthly payment on the place, and if my inlaws were killed tomorrow the state would snatch it right away from us and we'd get nothing from the sale.
My husband doesn't think we're getting screwed, because his mommy and daddy can do no wrong. I would never have agreed to this if I had known they wouldn't keep their word and that he wouldn't demand they do so.
First, do you think we're being taken advantage of, or are the inlaws right? Second, if you agree with me, is there really anything I can do?