+3 Though if she needs a mortgage, I'd make her actually get a mortgage (not just owe you money). Cleaner that way. |
OP you are the classic DCUM poster. With every new post you get a little meaner, a little more cutting, and a little more nasty. |
From business transaction perspective, 150 is a fair number. If you want to give a "family discount" and if you are doing ok financially, I'd even consider 135-140 but offer 150k first. |
Others are right, you are being a pushover. Preemptively, for no reason at all. Get three appraisals, take either the average or the middle one, and give her two choices:
1. Half the value of the appraisal, and she gets to keep all the contents (other than any sentimental objects you specifically identify). 2. Take 10% off the appraisal and split that, but you also split the contents, including the value of any and all items that are sold. |
Stop being a drama queen. If OP has any financial saavy whatsoever she already has an umbrella insurance policy which would cover any injuries occurring on the property. Umbrella policies cost at most a couple hundred dollars a year. It’s her goddamn sister. She has more money than her. The money involved here is small potatoes. You give her a discount because she’s taking on the job of getting OP off the title and the property out of OP’s hair. That’s reason enough. Why are DCUM women always so nasty and belligerent even with family? Is it a real thing or do you only do it on line? |
$150k sounds fair. |
By the book fair market value, ideally with a neutral third party you both agree on advising and drawing up the paperwork. In your shoes I might have an inspection done and take less $ if there's anything substantial that needs repair like HVAC or roof. Or consider building a clause like that in the contract so that you fend off any asks for money for major repairs in the next few years. I can easily see emotions getting involved here surrounding one child keeping the family home and I'd try to be prepared for that. |
I bought my brother out of a home we had together.
To sell a house for 350k assume there is some prep cost for putting it in the market and general pain in the ass of listing a home. Then as you accounted for closing, agent fees. I think 135k I would be happy with. |
You ask for exactly 1/2 of whatever you two get for the house after realtor fees. |
If she’s gonna do that, then she’s gotta do her full share of everything that needs to be done for the house to be turned over to her sister. Everything. Fair is square. |
Get a couple of official appraisals
Ask for half of the average appraisal Let her come back to you about the 6% or whatever. |
and that exact situation happened in our family and two sisters never spoke again. (my grandmother and her sister). |
Which is why 0P should be generous and magnanimous. It’s a family home. The sister wants it. The OP doesn’t. The OP should generously part with the house at a nicely discounted price with the understanding that the sister takes care of all of the logistics and that the OP is washing her hands of it. This is not rocket science. |
They would sue your insurance company. If you have deeper pockets, accept what she can pay in cash. |
I totally agree with this. |