Open Question: I would like to purchise my friends house.?

[Administrator]

The agreement that my friend and I came up with is: 1). She has an exciting loan on the property.2). We agreed to pay the mortgage, taxes and an additional 1,000. incentive,as well as insurance.3).She will carry the loan for us for 5 years and at which time we will refinance and pay off the loan of the agreed purchase price which has been set.4), We also agreed that any equity built up from this point on will be ours, the buyers.5).? can we do this and what kind of purchase agreement should we file.


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