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How do I sell a joint home?
We are splitting the house 50/50. It has an apartment my brother lives in. He needs to stay until its sold. We don't know what its worth.
Asked By Cynthia N. | Kenova, WV | 570 views | Selling | 3 years ago
Answer(4)
Karen Funk
1st Choice Realty & Associates Inc
My first question to you is-does the brother currently living there agree to sell and are you both on title or co-executors of the estate? This is important as there needs to be a legally binding document such as a will or you're both on title, to assure an equitable split. A Realtor can evaluate the current market value of the home, get it listed and sold in a timely manner. It's hard selling the family home and a good agent will make for a smooth process!
- 3 years ago
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James Parker - Realtor
Vylla Home (US), LLC
Speak to a Highly Recommended real estate Attorney in your area.
- 3 years ago
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Nick Perkins
eXp Realty
Hi Cynthia, the best first step is to have someone come out to show you what it is worth. Then who ever is the executor of the estate or if you and your brother are the ones on title then when this home is sold the money will be divided between you at closing. Hope this is helpful!
- 3 years ago
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Hi Cynthia -- we work with many clients that are selling their family's estate. The first thing would be to connect with a real estate professional who is an expert in the area and has worked with and understands the estate sale process (has the wills been probated) and then determine the best valuation for the home.
Once you have selected your real estate professional and the best pricing strategies, you will want to prepare your brother for showings on the property and make sure that it is & stays in show-ready condition to ensure that it attracts the best buyers for the property.
Once the property is sold, at closing, the title company will divide the funds between you and your brother as instructed. I wish you the best!
- 3 years ago
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