You have several issues that need to be sorted out by someone who understands the nuances. Appraised value, for example - is that the Tax Appraisal value? If so, it is usually wrong. Your best protection is to hire a competent Appraiser to give you its current Market Value. You will also avoid later claims that fair value wasn't paid. A price opinion from a part-time agent isn't going to help you.
Some mortgages are assumable, WITH QUALIFYING. If your mother can't qualify, you may have a problem.
The Title issues will require some strong legal eyes, as will the contract itself. When ex-spouses are involved, your transaction will need to be bullet proof. Hire a Board-certified Real Estate Attorney to write the contract and sort through the Title issues. Most of them also have Title Companies they work with.
I don't know what contract you have with your REALTORÂ®, but waiting for it to expire to save a few bucks may wind up costing you money. Your REALTOR is on your side. If you can't have an open and honest dialogue with them about your situation, you may need to reevaluate that relationship.
Doc Stephens, REALTORÂ®
Keller Williams Realty... more