If a home is in two owner's names, either one could sell their half of the home to anyone. But it is unlikely that anyone would want to buy a half of a home. Either owner of the home can bid to purchase the home from the other or the some can be sold to the highest bidder with the proceeds from the sale being split between the owners of the home.
When you're buying property from a family member and don't want to incur a lot of taxes, what can you do? Should the property be put into a trust or should the deed be transferred into the new owners' names? One option is to do a seller financing deal, where you pay your family member as if he or she were a mortgage lender.
When your planning to sell your home, set a realistic, fair price. Greed for more money can often get in your way when selling your home. One of the ways to make sure you sell your home at a fair price is to take the emotion out of selling your home and figure out the least amount of money you'd be satisfied with getting.
We answer frequently asked questions about selling real estate.
Why you need to know about a seller's disclosure.
When selling a home, you have to consider whether to do home improvements or repairs. That decision will play into whether you want to sell your home in "mint" or "as is" condition. Mint means ready to move in, while as is means it needs some home improvement or home repair. Obviously, mint condition homes sell for more while you might be able to find a deal on a home sold as is.
The benefits of seller financing and the risks.
When should you hire a real estate attorney? States do not require real estate attorneys to participate in buying or selling transactions so it's up to you. It's a good idea to hire a real estate attorney when you're not familiar with the nuances of a buying or selling contract for real estate.
