Reply to Sister buying me out of parent's vacation home

Forum Index » Real Estate

Reply to "Sister buying me out of parent's vacation home"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Both of my parents have passed away and my sister and I now own their home, which is in a vacation area of the midwest. I have no interest in keeping the home but my sister would like to keep it. My sister and I aren't particularly close, but have worked well during the recent deaths of both of our parents. She does have a reputation for trying to take advantage of me, which makes me and my husband a bit crazy. But honestly, I'm happy that the house will stay in the family and get enjoyed by my nieces. (I don't plan to ever use the house.)

I'm interested in people's thoughts on how much we should ask for her to buy me out of the house. We talked to two real estate agents who said that they would put the house on the market for $350,000. The house would likely sell quickly at that price since there are so few homes on the lake on the market.

Assuming we deduct six percent from the price because we won't be using a real estate agent, that brings the price down to $329,000. With all the other various closing costs that we might avoid and assuming a family discount, should we set the price at $300,00 and just have her pay us $150,000? She's received about that much from my parents' estate but may have to take out a small mortgage.

If you were in my shoes, what would you do?
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics