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House Selling advice needed please!!!!
ginstar
Posts: 46 Forumite
Hope someone can advise me. I am moving a distance to the other side of the country and want to sell my house to my sister who is in no position to buy the house off me in at its current value. I am willing to let her buy if off me for approx 70k less than the value but am unsure if either of us will be liable for any financial penalities if I were to do this. I do intend on a legal agreement that if she sells, she has to pay the 70k to me but she can keep any additional money she makes on the property. Any advice would be greatly appreciated. Also, I will not have an additional mortgage when I move. Many Thanks
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Comments
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Think its called a gifted deposit.
A solicitor may advise you to put a charge on the property so you get repaid on sale.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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