If I’m selling my house to my son so I don’t need to go through a realtor, what steps do I need to take to make this happen?
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If I’m selling my house to my son so I don’t need to go through a realtor, what steps do I need to take to make this happen?
I have a house with a mortgage that I am selling to my son. Since I am skipping
the realtor part I need to know how to go about the sale. Do we each need an
attorney or can one take care of this?
Asked on April 1, 2018 under Real Estate Law, Illinois
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It is always a good diea to have an attorney on both sides but if you feel comfortable with using one, there may be no law against it. Your son should have financing set up to purchase the house because your loan holder will want to see that he has a loan approval set up. There will be a bank attorney. Once your attorney draws up the contract have your son take it to some one for a consultation to make sure that he understands it. Your attorney can not advise him. Good luck.
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