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Thanks for the input. My attorney says he wants an agreement with a little more teeth than a standard purchase agreement, so that if there happens to be a lawsuit or judgement filed against the owners, the world knows that I have dibs on the house.

I agree that an immediate sale would be cleaner, but the wife is reluctant to move at all, & I have to be careful (not to make her cry?). It might not go over well to have the 80-year-olds rent their own house from the "youngster". If they suggest it, we'll do it.

I guess with either type of agreement, we can write in specifics such as "furnace must work". Their homeowner's policy can take care of any catastrophes in the next year. I'll be meeting with them this weekend, so we'll see what happens.
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