7 Steps To Selling A House To A Family Member

Selling a house to a family member can be very rewarding.


Perhaps you’re trying to help a relative out by providing them with an affordable price on a home. Perhaps it’s an old family property you’d like to keep in the family. Or maybe this is a way of convincing a child to live closer to you by offering them a deal they can’t refuse.


Whatever the reason, it helps to know how to properly transfer the asset without running into any snags or damaging any relationships.









Get a Home Value Estimate Before You Sell to a Family Member




Answer a few questions about your home and we’ll provide you with a preliminary home value estimate in less than two minutes.


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With some guidance from a top real estate agent and a veteran real estate attorney, we’ll cover the important steps to consider when selling a house to a family member, as well as some questions you might have about the process.


How to sell a house to a family member




Selling a house to a family member is typically a much quicker and simpler process than selling on the open market. In business terms, it’s known as a non-arm’s-length or controlled transaction. This means the buyer and seller have a pre-existing relationship of some kind (i.e., family, friend, business affiliate, etc.)


In contrast, an arm’s-length transaction is one where the buyer and seller are strangers acting independently and in their own self-interest.


Even with a controlled transaction, there are a number of steps one should consider taking to ensure everything goes smoothly for everyone involved. dustinpeyser.com


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