Posted on 10/30/2007 3:52:33 PM PDT by bruinbirdman
Pittsburgh, PA (AHN) - A couple in Pittsburgh has put their house up for sale with a full refund guaranteed to the buyer when they die.
Bob and Ricki Husick, both in their mid-50s, want to move to their retirement home in Arizona and for that they need to sell their Pittsburgh home first. They have been trying to sell it unsuccessfully for the past year due to the current housing market slump.
The couple, who have no heirs, built the house in 1993. They are asking for $399,900 for the four-bedroom, 3 1/2-bath property located in Wexford, about 20 miles north of Pittsburgh.
Under their offer, the buyer stands to get a bonus of $100,000 on top of the purchase price plus the Arizona retirement home if he or she agrees to look after the Husicks in their old age.
According to Wrex TV, Bob Husick said: "It's absolutely not a gimmick. We're looking to be benevolent to someone who'll be benevolent to us when we're old. You don't have to worry about it for now. But, there's a day coming when we're old. Take care of us then and you'll get a whole lot more than you think you're getting."
"The only thing we put in [the contract] is that no money will be paid to you until local authorities determine that we died of natural causes."
Cool, I could buy it, then sell it and voila! My retirement nest egg is created for a net cost of zero.
The house would sell, just not for the 400 thousand they want for it.
This couple is in their mid fifties, looking after them in their old age could be a VERY long term commitment! Taking care of old people is no barrel of fun for most folks. I think I would pass on this, the house is obviously overpriced or it would sell, so you have to wait for possibly several decades to get money back and only after they are ruled to die of natural causes! What if someone else kills them? This is not nearly the great deal it sounds like at first.
Cool, I could buy it, then sell it and voila! My retirement nest egg is created for a net cost of zero.
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Not so fast there, you will probably find that the house hasn’t sold because it is overpriced, then there are closing costs, realtor fees etc. to consider and then you don’t get your retirement money until they die of NATURAL CAUSES! What if some disgruntled relative kills them? You could find yourself in the hole financially and faced with being suspected of murder.
party pooper
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