Thursday, May 22nd - "Selling Mother's House" Question: I'm trying to sell my mother's house, something inherited in an estate situation. We have an offer on it, but the buyer would also like to have the first option to buy the piece of land next to the house that my brother now owns. Should my brother get money to sign this agreement up front? Answer: Ask yourself these questions. How long does it last? How long would the buyer of your mother's house have to act if your brother received another offer? What other offers or interest do you have in the property? Plainly there's a value to an option, especially if it means your brother's property is less attractive in the marketplace. Alternatively, is your brother getting money from the sale of your mother's home? You need to look further into the specifics of the option. Have an attorney who specializes in real estate help you with legal language.

Published: May 22, 2008

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