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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here:  Quick question -- I decided to ask realtors what they thought it would sell for because all of the houses in the area sell for well above their appraised value. So doesn't that seem like the fairest measure? I talked with the third agent yesterday and she thinks that there would likely be a bidding war on the house and it could go up as high as $425,000. (There are almost no lake front houses on the market.)

I think that my sister will definitely buy me out of the house -- she is having a new boat delivered next week after all. I've been very clear that I don't want to co-own the house. My family won't be using the house at all.

I'm the executor so I've been handling everything with the estate and I would handle the sale of the house too.

I don't really need the money from the house but also don't want to just give it away either. Contrary to what some people here think, this whole process hasn't been particularly contentious. I just don't want her to complain to the aunts/cousins (who live near her) that I'm being a jerk.[/quote]

Look at the prices of sold houses on Zillows starting from six months ago that should be close estimate.
Real estate agents usually exaggerate to get you to list it with them.[/quote]

Agree with this. real estate agents say all sorts of things that don't always end up being true. OP since it hasn't been contentious and you got through the death of your parents unscathed (relationship wise), and it would probably make your parents happy that she keep and enjoy the house -- offer the $150 and if she counters with something a bit lower just take it and be done with it. It is NOT worth your relationship. And don't mention the guns. Having to deal with that is a pain you don't want so just let them deal with it, who knows if they can actually get the value you see online, very possible not.

Not being in conflict with family members is worth a lot. also I agree with other posters it doesn't sound like you have been clear that you want a buy out. You should do that asap. She may have a new boat coming, but you have no idea if she got a loan for that boat or if she used cash she WOULD have used to buy you out if you haven't communicated that... she needs to know and be able to plan. It sounds like this is important to her and would be pretty devastating to sell so I think you need to be clear now.[/quote]

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