Question to those that can help. My girlfriend owns a home that she really wants to get out of. Her son wants to buy it from her. The money owed on the loan is $230,000. The value of the property is about exactly what she owes. She wants to sell her home to her son for just what she owes in order to make it affordable for him, yet pay off her debt. She realizes there is no real equity and will make no money on the deal. Assuming her son has a lender and a realtor to make this happen, does my girlfriend REQUIRE a realtor (selling agent) of her own to sell the house OR can her sons realtor handle BOTH transactions? The reason I am asking this question is that if she get's a realtor of her own, the price of the house would have to be raised in order to pay her realtor, correct? So the $230,000 house would quickly become maybe thousands more. This is why she is trying to figure out if using one agent to attend to both transactions may save her and her son money. She wants to obviously get out of this house without paying to do so.
Any advice or ideas would be appreciated.
Any advice or ideas would be appreciated.