brothers wants to buy the house from me and my other brother when he sells his present home. I need money now and have no immediate takers for my share from among the two obvious potential buyers. Is there a way for me to offer my share to another buyer? Are there investors out there who might be interested in such a transaction? It appears that the turn-around will be up to three years. The property is a nice 2BR, 2 Bath 1,500 s.f. house on a golf course in Lake Worth, FL.
You can certainly offer your share to another buyer, however I do not think anyone would want to buy into such a complicated ownership position where they are not free to do what they want with the property wiothout getting permission from your 2 brothers.
Why can't you sell your share to the brother that wants to buy the house from you? From your question you said one brother wants to buy your share.
I would recommend you three all sit down together and figure out a logical solution to your problem. It would appear to me that renting the property might be the most logical solution until you are all in a position to sell or buy each other out.
If you decide to rent the house I can help you find a renter.
Best Regards,
Kris Persaud
Realtor
Keyes Real Estate, Mortgage & Title
Mobile: (561) 310-8471
Office: (561) 845-6036
Email: krispersaud@keyes.com
Keep it in the family.
Let them buy you out, if possible, after proper evaluation, or sell it together at a future date.
To let someone else in sounds very complicated to me.
I am not sure what your concern is.... Is it that you think a 3rd party outside the family would pay you more?
Look it is relatively simple..... Get the property appraised, or get several agents to come in and give you their fair value opinion, of course you know, even though this is what they think the property should be listing for, this does not mean it will sell for that should all 3 of you decide to sell the property sometime ......
So this is a little give and take, you get some numbers, you make some adjustments, as the one who is
actually keeping the property is taking the risk on whether the property will gain in value or lose in value over the next years....It seems to small of a property for any outside investor to even want to consider it....
If it were a multi family building, may be.....
So why not get a few realtor opinions on potential property value, even get an appraisor
And then look at their opinions and adjust them to an average pricing, with potentially some adjustment
towards the one who is keeping it and is taking the risk up or down, and come to a mutually acceptable agreement...
Hope this helps!
Edith Karoline YourRealtor4Life!
Working always in the very BEST interest of her clients....
EdithSellsHomes@gmail.com
Your Chicago Connection..
PS if you know of anyone who intends to move to Chicago, the larger Chicagoland area or anywhere in Northern Illinois, please send them my way, I will provide 1st class service to them, I promise....
Is there any income, or is a vacant property?
Having a 3rd unrelated party interested in investing will be a challenge.
Have you had the property appraised?
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