I am considering purchasing a vacation property from my elderly parents that they can no longer use. Is there a simple transaction path?

Asked by Interested Investor, Charlotte, NC Fri Sep 28, 2012

I am thinking of just getting an appraisal and paying them that. No realtors involved. What would be the minimum requirements for this transaction (in South Carolina)?

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Rick Knight, Agent, Myrtle Beach, SC
Thu Jun 20, 2013
Get the appraisal. Maybe two and average. If you would like me to pull some sold data and email you, I will be happy to do so for free and no obligation. If you need a real estate attorney I would recommend
McCutchen, Mumford, Vaught, O'Dea & Geddie, P.A. they do a great job. Their number is (843)281-9831


Rick Knight
Wilkinson & Associates ERA Powered Myrtle Beach
http://www.rickknight.com
843-839-9060
or text me at 704-576-0385
0 votes
Linda Coe, Agent, Beaufort, SC
Fri Sep 28, 2012
You will need a good real estate attorney. It should be pretty simple. If a lender is involved they will tell you what they need. Good luck.
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Aaron Sims, , Birmingham, AL
Fri Sep 28, 2012
It is basically up to what you and your parents determine is a fair price, then selling it to you. If you are getting a mortgage then the bank will make you get an appraisal to make sure they are loaning based on an accurate value of the property. If you are paying cash then it is as simple as having a lawyer draw up a sales contract, and then transfer the title/deed. It should be a relatively simple process, I’d involve a lawyer to be sure everything is done legally and properly and the title gets transferred right.
Best of luck!
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