![]() Determine a selling priceĭo you plan to gift the home to your family member, sell at a discount, or sell at fair market value? A realtor can provide important support, like managing all the paperwork and keeping track of legal considerations. ![]() If you’re selling to a family member below market value, you may already be losing money (or forgoing profit) on the sale, so it could be tempting to avoid hiring an agent.īut selling to a relative can be more complex than it seems. There are legal, financial and tax implications to consider, and working with a professional could help you keep everything fair, legal and above board.ĭecide with the buyer whether you want to hire professionals to guide you through the process, and decide ahead of time who will pay for those services. You might be tempted to handle the process on your own, but note that selling a house to a family member might not be as simple as it seems. Work with your family member to determine how you want the process to go. When you sell your house, you can list with a real estate agent or do a FSBO (for sale by owner) sale. Most real estate sales are this kind of transaction, and they’re typically facilitated through a seller agent and buyer agent, who connect the buyer and seller.įollow these steps to sell your house to a family member.
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