My parents want to sell me their house, and I want to buy it. How can we do this and avoid having to list the house and use a real estate agent. I'm sure we could agree on terms, and I know we'd have to get it appraised, but how can we write up a contract, etc. The financing issue is not a problem, just the selling/buying. You could e-mail me, also. Please and thank you.
2007-10-01 05:11:10 · 9 answers · asked by blu moon 2 in Business & Finance ➔ Renting & Real Estate
Conveyancing is the act of changing the title owner of a property from one person to another. So you would either be looking at hiring a solicitor or a conveyancer to do this for you.
You may choose also to do this yourself, some government offers packs that contains all the documents that helps you change title.
I suggest you hire a solicitor though. Clears up legal problems that may arise in the future. (like tax)
2007-10-01 05:30:20 · answer #1 · answered by Anonymous · 0⤊ 1⤋
All you have to go is start with a loan officer at a bank..the attorney conducting the closing for the bank will probably write a "sales" contract for free if you are using them for the closing.
It's not hard, you don't have to list it or any of that stuff.
However, be PREPARED to pay for TWO APPRAISALS.
Transactions between family members are non-arms-length transactions and most banks will require two separate appraisals.
2007-10-01 06:40:08 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
Listing the house is not necessary. Plenty of sales are done by the owner and not an agent. You can hire a real estate attorney to handle the legal forms and filing. Try asking your bank who their attorney is and you may be able to get him/her cheaper.
2007-10-01 05:16:49 · answer #3 · answered by Erica T 3 · 2⤊ 0⤋
Depends on the state ,
Some use escrow / title companies ,
Others use R E Attorneys .
If you are not sure , ask at the county deed / tax office .
Go to them and they will process all the appropriate paper work .
If you are Not getting a loan , you could even skip the appraiser .
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2007-10-01 05:18:32 · answer #4 · answered by kate 7 · 0⤊ 1⤋
You'd probably be ahead to talk to a lawyer to get the proper paperwork done. It's possible to do it without legal advice, but you really have to know what you're doing.
Some realtors will also handle just the paperwork for a much reduced fee from the commission they'd normally charge - you could call a few and ask.
2007-10-01 05:15:57 · answer #5 · answered by Judy 7 · 1⤊ 0⤋
I purchased my parents home 10 years ago. We hired one lawyer who took care of all the paper work for both parties. It went very smoothly. No...don't hire a real estate agent...with this type of transaction it would be a waste of money.
2007-10-01 09:20:41 · answer #6 · answered by LILL 7 · 0⤊ 0⤋
very simple. first find out if your state uses Attorneys or Title companies for closings.
Step 2. Have a purchase contract drawn up between you and your parents.
Step 3. Apply for financing.
Step 4. Close on the home with attorney or title company.
2007-10-01 05:16:07 · answer #7 · answered by Anonymous · 2⤊ 0⤋
Im uncertain how stable a one hundred fifty,000 euro abode is yet while it grew to become into the place i stay , i might say definite because of the fact your buying it for seventy 5,000$ and thats going to them and additionally enable them to stay there that could desire to be for yet another twenty years. is likewise the place the abode is in a intense call for? 2 mattress ,2 bath? or is it a extensive abode yet no person needs to stay there , might choose for to function some info
2016-11-06 22:54:34 · answer #8 · answered by Anonymous · 0⤊ 0⤋
just get a lawyer who handles real estate
2007-10-01 06:22:04 · answer #9 · answered by Anonymous · 0⤊ 0⤋