Thats a great question! The real estate brokerage provides the marketing tools, which are all pretty much the same, mainly internet marketing. The real estate agent is the one that will be providing the service to you. Choosing a realtor that has the local market knowledge, has worked as a full time realtor in the area is someone that you are comfortable working with. Real estate commission are likely important to you also, I am my own Broker and can provide you with great service as well as competitive rates.... more
As others advised, seek the advice of a tax attorney and accountant. My in-laws bought their grandmother's house a few years back for about $200,000 less than market value and there were no penalties or tax consequences at that time. They have it as an investment property so if they sell it, capital gains may be an an issue for them.
That's wonderful that your parents are giving gifts of equity. You have wonderful parents!
The neighbors may be upset that the house sells for less than market value because it will become public knowledge and neighbors may fear that it will effect the market value of their home when compared against recent solds but family to family sales for less than market value are common.
This question requires qualification ; Do you need to, or just want to list it? If you can afford to wait a year, I probably would, but it depends on the price, the current condition, your ability to carry 2 mortgages (to eliminate a contingency on a new home, if any), and or any outside details I cannot see through this website.
As far as Realtors go, I am a referral agent with personal and professional connections in White Meadow lake. Please contact me anytime here, or on facebook (see web reference).... more