Home Buying in 37660>Question Details

Jjudy001, Home Seller in Kingsport, TN

My brother would like doe me to buy him out of a house we ubheritedm but wants cash payments. What would i loose during this esides interest monthly?

Asked by Jjudy001, Kingsport, TN Sun Jan 27, 2013

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You would need to contact an attorney for any legal adivce or a CPA for any tax advice.
0 votes Thank Flag Link Mon Jan 28, 2013
The house could go down in value, there will be repairs needed now and then. Someone needs to pay the insurance and taxes so who will it be and how to split them. It all depend how much he want from you to buy him out and the terms of payments. I would suggest sitting down with a lawyer to review the idea and the options and let him write up the papers to record.\
0 votes Thank Flag Link Sun Jan 27, 2013
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