Posted on: 17th Nov, 2008 12:45 pm
My mother passed and left property to 5 children-leaving in will the eldest can sell the home. Property has no mortgage.
We have a person interested in purchasing property. What are the steps?? I live 500 miles from this property.
We have a person interested in purchasing property. What are the steps?? I live 500 miles from this property.
Hi,
As you have already got a buyer for the property, you will not have to list the property in the market. You should check whether the buyer has a pre-approval letter or not. A pre-approval letter means that the buyer will easily get the loan and you will not have to wait for a long time.
When you will be transferring the property to the buyer, you should use a warranty deed or a grant deed. Do not use a quitclaim deed. The warranty deed will include the sale amount which you will be receiving from the property.
Thanks
As you have already got a buyer for the property, you will not have to list the property in the market. You should check whether the buyer has a pre-approval letter or not. A pre-approval letter means that the buyer will easily get the loan and you will not have to wait for a long time.
When you will be transferring the property to the buyer, you should use a warranty deed or a grant deed. Do not use a quitclaim deed. The warranty deed will include the sale amount which you will be receiving from the property.
Thanks