Sister buying me out of parent's vacation home

[Anonymous]

Agree that $150k sounds like a good number. Do your homework first though. Make sure the realtors are actually correct about the price.

[Anonymous]

Get an appraisal, half the value after realtor/transaction fees.

Does your sister have the money? Will she need to get a mortgage?

[Anonymous]

Anonymous wrote:Get an appraisal, half the value after realtor/transaction fees.

Does your sister have the money? Will she need to get a mortgage?

Never mind, just re-read the OP. I would probably be willing to reduce enough to allow her to not take a mortgage, but that depends on you and how much you're willing to compromise. It would be a big hassle to get it ready to sell, so there is definitely some value in avoiding that.

[Anonymous]

Anonymous wrote:Get an appraisal, half the value after realtor/transaction fees.

Does your sister have the money? Will she need to get a mortgage?

That's all covered in previous posts.

Op, as others said get three appraisals. Take the middle one or an average. She pays you half of that and costs. She keeps the stuff in the house or the value in it to cover her extra costs.

[Anonymous]

Anonymous wrote:You ask for exactly 1/2 of whatever you two get for the house after realtor fees.

There aren’trealtor fees. Read the OP.

[Anonymous]

Anonymous wrote:Let her buy you out at $150k and be done with it. You get the funds, she gets the house at a little bit of a discount, and you all can move on.

This. $150K is very close to fair, with giving the sister a very slight advantage. But OP would get to be done with this, which clearly has value. Don't consider a loan to her. It will be the final straw in your relationship.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Reputation for taking advantage of you?

Sounds like you and your husbands allow that.

Anyway, I would keep the share a few years and let it appreciate more and then use it to fund college or retirement.

^^not this.
go with the $150,000 — although I’m curious how this plays out if she tries to counter. Or if she’ll try to get you to basically hold the mortgage loan and she’ll want to make payments to you. which seems not ideal.

Dont do this (loan her money/be the mortgage). It will cause tension if she doesnt pay you back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You ask for exactly 1/2 of whatever you two get for the house after realtor fees.

There aren’trealtor fees. Read the OP.

You know that the prices realtors give include realtor fees, right? The seller has it taken out of their net.

[Anonymous]

You said you sister would get close to the purchase price from the estate. So just look at the whole value of the estate (including the guns) and divide that in 1/2. She can get the house for her half and you get the cash or whatever. You just need to split the overall estate, not each item.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fine or be decent and reduce it more so she does not need a mortgage.

You have no obligation to ensure she doesn’t need a mortgage.

I think $150k is fair, plus whatever possessions in the house you’d be interred in (perhaps there are none).

Mom was a hoarder!

Luckily my parents were not hoarders! But my father had valuable hunting rifles that my sister has taken home to have her boyfriend sell. I don't have any expertise in this area and just know their listed value. I'm assuming that I'll never see this money.

You are being a pushover. Tell sis that you want $150k and 50% of the value of the guns. Put it in writing. Who cares if she needs a mortgage? As you mentioned above, you are putting your family at risk by maintaining your ownership of the home. Take care of this asap.

WTF is wrong with you? It's his sister.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fine or be decent and reduce it more so she does not need a mortgage.

You have no obligation to ensure she doesn’t need a mortgage.

I think $150k is fair, plus whatever possessions in the house you’d be interred in (perhaps there are none).

Mom was a hoarder!

Luckily my parents were not hoarders! But my father had valuable hunting rifles that my sister has taken home to have her boyfriend sell. I don't have any expertise in this area and just know their listed value. I'm assuming that I'll never see this money.

You are being a pushover. Tell sis that you want $150k and 50% of the value of the guns. Put it in writing. Who cares if she needs a mortgage? As you mentioned above, you are putting your family at risk by maintaining your ownership of the home. Take care of this asap.

+1

OP, you are also entitled to 50% of the contents of the house or their fair market value.

[Anonymous]

Anonymous wrote:Let her buy you out at $150k and be done with it. You get the funds, she gets the house at a little bit of a discount, and you all can move on.

Fully agree.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fine or be decent and reduce it more so she does not need a mortgage.

You have no obligation to ensure she doesn’t need a mortgage.

I think $150k is fair, plus whatever possessions in the house you’d be interred in (perhaps there are none).

Mom was a hoarder!

Luckily my parents were not hoarders! But my father had valuable hunting rifles that my sister has taken home to have her boyfriend sell. I don't have any expertise in this area and just know their listed value. I'm assuming that I'll never see this money.

You are being a pushover. Tell sis that you want $150k and 50% of the value of the guns. Put it in writing. Who cares if she needs a mortgage? As you mentioned above, you are putting your family at risk by maintaining your ownership of the home. Take care of this asap.

WTF is wrong with you? It's his sister.

You should say that to the sister, who has a history of trying to take advantage of her sibling.

[Anonymous]

Have you asked her what she thinks a fair price for her would be? Not based on the appraisals, but how much of a family discount she thinks is fair?

[Anonymous]

Just because a real estate agent says they can sell a house for $350,000 doesn't mean it will appraise at that. I'd get an appraisal then split the appraisal # 50/50.