Joe, Home Buyer in East English Village,...

i am buying out my partner with 67 thousand cash need property changed to my name what fees areto be expected

Asked by Joe, East English Village, Detroit, MI Wed Jun 30, 2010

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Assuming there is no mortgage on the property, Usually buying out a partner consists of quitclaiming the interest of one party to a second party. It could differ in state to state and differ if it is in a business name. Usually a title search is conducted to make sure there are no other liens, then a new deed is typed , signed and recorded. Average cost can be 275-550 depending on teh going rate for real estate attorneies and any speical things you need.

You can simply call a real estate attorney or closing attorney and they can give you a quote of your exact costs. this isnt meant as legal advice but industry averages as each persons situation may be different.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Jun 30, 2010
Hi Joe, Realtors and Agents, are not allowed to 'practice law without a license' which means, we can't answer this question. I am assuming you are using an attorney for this transaction anyway? They will be able to tell you what the fees will be. I wish you the best in your new journey as sole owner of your property!
0 votes Thank Flag Link Wed Jun 30, 2010
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