If you’re thinking of selling your home to a family member, that could be a win-win for all involved.
However, you should know there are legal ramifications that go beyond familial (and emotional) attachments.
A flat fee - an agent may make everyone more comfortable by negotiating details and drawing up terms.
Failing to write down all legal terms and contingencies could be a recipe for disaster when discrepancies arise.
For example, don’t misstate the selling price, skip steps in the financial process or otherwise try to beat the system.
To avoid misunderstandings, it’s best that a professional inspector provide an opinion.
Beware of financing family members, as that could put you in the unenviable position of having to ask for payments or even foreclose.
