I also want to say that it is in your best interest to get a correct opinion on the value since if you ever want to get a mortgage on the property , you would have to work with what the BANK thinks the property is worth , and if it is wildly different from what you paid your siblings , someone will be upset !
Anyway , good luck with your deal , get a fair price on the house - agree with your siblings - then go to a lawyer .
Be very careful and make sure that this is a sale and not a gift because I would strongly suggest getting title insurance in this case. Most title companies will not issue a title insurance policy on a gift transfer - there must be a sale.
There are also special mortgage programs for family transfer/sales, as indicated by the loan officer from Continental Home Loans. Make sure you structure the transaction carefully with both the aid of a real estate lawyer and a mortgage professional.
I don't know why your sibling in bring in a realtor. The property is not being listed to sell to the public and you don't need a realtor to purchase it so??? You do need an attorney to make sure the documents are in order. Your attorney will also acquire title insurance for you. If you need to get a mortgage to buy her out and you would like a free consultation, you can give me a call. There are certain financial privileges may be available when buying a home from a family member.
All The Best
Continental Home loans
This is not an easily answered question without all the facts.