<prompt> Human: Im not sure the title is properly worded. Together with my husband, we own two homes in WA. We bought the first one 6 years ago with cash, fixed it up and is now worth more tha double of what we paid for due to market growth and the improvements we made. After 4 years of living there, we wanted a nicer home and bought another one but didnt sell the previous one. For our current home, we put 50 down and got a loan for the rest which we want to payoff next year. The previous home has been empty ever since and mostly used for weekend trips as it sits on good acreage and is in a peaceful location. My husbands parents are looking for a home to buy and they are currently renting. They always loved our previous house and offered to buy it now. My father in law has some weird hatefear of banks and loans which is why he doesnt entertain the idea of getting a mortgage. So the idea we came up with is basically pay us mortgage. I know we have to get lawyers involved because this is serious business and we need to put everything on paper but I wanted to see if this idea is even possible. Can we sell the home to them and have them pay us principalinterest? The market value of the house is 725k, interest rates around this area according to Google are 4.5. Is this too much of a headache? Alternatively, we could just rent the house to them for the market price of 2,500. Thoughts?  <response>: My father in law has some weird hatefear of banks and loans Wow. A red flag, dontcha think? 