“Buying the Family Home isn’t always Easy”

“Buying the Family Home isn’t always Easy”

 

 

The biggest issue is usually that the parties are not represented by a real estate professional. When there is not a third party, emotions can get pretty serious and feelings can get hurt pretty quickly.

 

So many issues need to be addressed, here are a few that can create lots of issues and stress for all parties:

 

 

  1.    Price can be a major issue especially when there are multiple owners or heirs. Also if the original owner made promises that will not be honored

 

  1.    Condition of the property can mean that a home inspection            isn’t done, which could mean problems for the buyer in the future. And if a home inspection is done and problems are discovered, how are these issues resolved?

 

  1.    What if the buyer has not been pre-qualified for a mortgage? What if the buyer just can’t get a mortgage?

 

Joe

 

I gave your information to a client who is the 3rd generation in lineage of a particular clients family.  She’s in a tough/unique spot and trying to purchase family owned home she lives in.  She can fill you in on the details.  It’s not a ‘slam dunk’ but she’s a good person and I know if someone can find a way to help her it’s you.  Appreciate your time in seeing if she can purchase this home.

Best, Dan

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 5 commentsJoe Petrowsky • October 14 2016 06:07AM

Comments

Great points Joe Petrowsky .  With today's moving society, buying the family home may become a scarce sale.

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek & Associates LLC Team) 6 months ago

Joe indeed I spend more time managing the expectations and controlling and throttling the Drama:))Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 6 months ago

Good Morning Joe - these are points that come up with families.  I can imagine managing the drama.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 6 months ago

Good morning Joe. Anything having to do with a family death is complicated. Home....I can't imagine.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 6 months ago

Hi Joe Petrowsky If only one of them wants the house, the others should be willing to take a note for their share. Done!

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) 6 months ago

Participate