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Updated almost 8 years ago on . Most recent reply
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SNAP POLL: Sell a house to a relative or not?
Hey BP!
Would you sell a property you own that needs some work to a family member (brother)?
Our company bought a 2bed 1 bath 2 car SFR for a great price and we've decided to either rehab it or sell at a discount to my brother and his fiancé who have been searching for a house in a nice neighborhood.
Property needs bath and kitchen to be updated and refinish floors and paint, but otherwise in great shape; has new roof and newer windows, high ceilings, hardwood floors, excellent front porch, amazing built-ins, and an unfinished 2nd level with amazing potential to ad an extra bed and bath in a master suite (so 3/2/2 when finished, currently 950 sq feet and finished will be about 1550)
My brother and I are very close, and I'm worried since it needs a little work and they know what we paid and will make a good profit on it that for those reasons there might be issues if they buy it as-is and something goes sideways.
Thanks BP!