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Neighbor Wants to Buy |
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My wife is in Long Beach CA to help her elderly aunt move to a nursing home. A neighbor is interested in buying the aunt's home. Could the sale transaction be done by an attorney or someone else for a fee, instead of paying a large commision to a broker? |
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Yes, certainly. In California the transaction is more likely handled by an escrow company than by an attorney, by the way.
But having someone who wants to buy the property is only the tip of the iceberg. You wouldn't need a broker's help with that but there's still lots to be done. First off, can the neighbor afford to buy? There's no use getting the house tied up in a contract with someone who eventually proves unable to go through with the purchase. Then again, what's a fair price for the place? How can you be sure without testing it in the open market?
For services like that, you could still use a broker -- it's less expensive than using a lawyer. See if you can find a neighborhood agent who is willing to work for a small commission or perhaps by the hour, to guide you through the transaction. If this neighbor doesn't pan out, you'd still need a broker. That's particuarly important because you'll be doing all this from out of state.
Let me know what happens; I'm interested. |
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Edith
Originally published on October 23, 2007 |
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