Brok Hansmeyer Duluth Realtor : Keep these things in mind if you are selling real estate to family, so you can still eat Thanksgiving Dinner together!
If you are just joining the blog, see the previous post on selling real estate to family, to get all my tips on this issue!
If you are selling, detach yourself from the house. It’s time to pass it on, all of it, with no strings attached. Your family member might like different colors, or want to add a deck in the backyard. When you sell your home, no matter to whom, it’s now there’s. No strings attached!
Think twice before you give your family member a deal. If you are in a position to do that, and want to, great! But, if you feel pressured to do that, only because you are family, and your retirement plans hinge on what you need to make on the home, giving a deal could cause feelings of resentment and bitterness that last way longer than the sale.
Don’t sell your home over market value to a family member, especially if it will mean the family member will never be able to resell and get their money back. Greediness has no place in the family, or else it really could affect your relationship. Choose what’s most important to you, but just know that selling over market value will have lasting consequences down the road for your family.
I hope these suggestions help you navigate this type of deal. If you have questions, I’m always happy to help! Have a wonderful Thanksgiving!