Is it bad to mix business with family like real estate transactions with a family member if you never going to know what kind of mood they are in sometimes?
by 
HappyGoLucky
ANSWERS: 5
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There is nothing wrong with it just don't let them hold anything over your head. For example if you bought your aunts property it is your property don't let them try to change something if you don't want it to change.
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Not always. There are good transactions and bad transactions. 1) An example of a good transaction: - your uncle died as a single without children, leaving some property to one of your parents and their siblings, among other things an appartment. Nobody of them need it, so they want to sell it. If you offer to buy it, you should normally get it at a better price than the market price, and you are good informed about what you get 2) Some examples of bad transactions: - Some far family member is a real estate agent and uses family relations as just another mean of getting customers. You will not even get advantages of this from being a family member. - You buy your aunt's house in exchange of a life rent, and she may live there (alone or with you) until her death. If your feelings to her change or she lives to be 100, you could eventually wish her dead. - You rent a flat which you brother owns. You do not have to pay too much for the rent. But he may want to sell it and have to make you leave. Or he would like to raise the rent but you cannot or will not pay more.
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yes
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Mixing family with business is iffy but can work. We've done it, had bad and good results. Whatever you do with family, please make sure everything gets done and said in writing. Don't ever think just because it's family, it doesn't have to be spelled out in paper. It does, every tiny little thing should be on that paperwork. Don't assume Uncle Bob knows you want to store your stuff in the unused garage and that your Father will let you make half the payments starting next year. Get it in writing. And if we're talking mood changes? Find a good pen and a notary public.
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Absolutely the only one I would consider doing such a thing with is my son...I trust him implicitly..he would never do anything to harm me. As for others, I would think twice, three times, and then probably not get involved.
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