Evidently they don't give you the entire question. I sent the detailed question first and then they asked for more information which is what you read at the top of the page. So her eis the original question: My 83-yr. old grandmother is wanting to down-size and gift her property to me. She bought her house in 2001 for $125,000 and owes about $65,000 to $70,000 on the property. She will let me buy the house as is for just what she owes on it. My parents and I will do any repairs that are needed on the house. Will this be treated just like any other property sale? Also, will we have to pay closing costs and get an inspection and all the other costs associated with buying a house from a stranger? I am a single 30-year woman who has been working at a small business company for soon-to-be two years (Oct.) and my credit is very good.