Financing options for acquiring grandfather's house

I thought it was unnecessary to mention that such an approach is, of course, watertight documented with a notarized contract. Apart from that, there are more than enough examples where friendship does not end over money. But you only hear/read about the negative cases. It's the same as with renting. On the internet, everyone always knows someone who has or had problems with rent cheats, etc. But those are only a few thousand per year. The many millions of positive cases are gladly ignored.

My wife works in the judiciary. You wouldn't believe what kind of stories you hear from the inheritance department, among other things. It sometimes goes so far that siblings have their parents' house auctioned off, thus putting their own mother/father on the street because they cannot pay out the inheritance share. I really don't recommend trusting only the good relationship. It can end very badly. But to each their own...

Perhaps also to consider:

[*]You can inherit the house directly from your GV (or receive it as a gift, which is legally the same), if your siblings and your father agree; then the double transfer, gift tax, etc. are avoided.
[*]Whether you have to pay your siblings something also depends on whether there are other assets. Maybe they simply inherit something else?
[*]Giving your father money that then sits in his account makes absolutely no sense. The private loan (which your father gives you) is probably the less bad option.

A part-time tax advisor who is actually a therapist? Did I understand that correctly?

There are people here who want to replace all the wiring in 10-year-old houses and cannot survive without a heat pump. The necessary major renovation really costs from €2000/m², and finding craftsmen for it, or even getting offers, is significantly more complicated than for a new build. However, if you are willing to have a construction site occasionally over the years and know small solo craftsmen in rural areas, you can renovate it gradually. But what makes no sense now is taking out a loan at 3-4% and the recipients leaving the money on their checking account with current 8% inflation or making a special repayment on their 1% financing. What also needs to be considered is the financing of a possible care dependency of the grandfather. If you are unlucky and bought too cheaply, you may have to pay for the nursing home.

What still needs to be considered is the financing of a possible need for care of the grandfather. If you're unlucky and bought too cheaply, you might possibly have to pay for the nursing home.

I believe that the inheritance case is already being discussed here. At that point, unfortunately, the grandfather's care is no longer relevant.

Otherwise, I find the 2k for a genuine complete renovation without significant personal contribution nowadays not unrealistic. Of course, it also depends on the place of residence and what you ultimately actually have to and want to do. There are gradations.

Tell me: Grandpa is still alive … and is in a nursing home? What pays for the home or the care? They eventually go to the property or the person who inherits and liquidates it, right? It might be wiser to have someone else buy it instead of hoping for a bargain that still needs extensive renovation.

We have a tax advisor (self-employed as a licensed psychotherapist).

I would choose another one ;)

Always obtain a neutral expert opinion so that everyone is satisfied. Do not save money by saying, we will do a [Nachbarschaftsgutachten], let's see what others offer.