QUESTION

When buying a siblings half of a shared property out of an Estate is it customary to take realtor commissions into account when negotiating the price?

Asked on Sep 10th, 2012 on Estate Litigation - New Jersey
More details to this question:
My brother and I own a property together that is still in my father's which we are desperately trying to close out. I want to buy his half. We have a court ordered appraisal which has set a supposed market price the property would sell for. In negotiating I would like to get a credit for the amount that would go as realtor commissions since if I decide not to purchase the house it will go on the market with a realtor. Is this something that is done? or taken into consideration,
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
It can be something that is taken into consideration, anything can be in a negotiation.  Also, you can consider the additional carrying charges (taxes, utilities, etc.) that would be incurred while the property is on the market, and any repairs that would be essential for the property to go to a new owner. 
Answered on Sep 11th, 2012 at 8:21 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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