Heirs to family home want to sell, non heirs want to keep it

[Olga Ford]

Hello, 

A deceased family member left the equity of her home to her children(heirs). The house still has a mortgage, they want to sell to get their equity

Grandchildren want to keep the home and take over payments. Heirs are unwilling to keep. Is it there a way to acquire the house privately without it going to market rates and value?

For example (for clarity), say the home is worth 100k there’s 50k in equity the market value is now 200k.. is it possible for the heirs to sell the home to me privately for 125k so they can still get their equity but I’m not paying it’s market value?

[Theresa Harris]

If the house is worth $200K, why would the heirs sell it to their kids for less than that?  If the (grand)kids want to buy it, then they need to come up with the money.  The heirs might sell it to them for $185K to save realtor's fees.

If the house was bought for $100K and there is $50K left on the mortgage and market value is $200K, there is $150K in equity in the home.