7 Steps to Selling a House to a Family Member

Selling a house to a family member can be very rewarding. Perhaps you’re trying to help a relative out by providing them with an affordable price on a home. Maybe it’s an old family property you’d like to keep in the family. Or this is probably a way of convincing a child to live closer to you by offering them a deal they can’t refuse. Whatever the reason, it helps to know how to properly transfer the asset without running into any snags or damaging any relationships. Get a Home Value Estimate Before You Sell to a Family Member Answer a few questions about your home and we’ll provide you with a preliminary home value estimate in less than two minutes. With some guidance from a top real estate agent and a veteran real estate attorney, we’ll cover the important steps to consider when selling a house to a family member, as well as some questions you might have about the process. How to sell a house to a family member Selling a house to a family member is typically a much quicker and simpler process than selling on the open market. In business terms, it’s known as a non-arm’s-length or controlled transaction. This means the buyer and seller have a pre-existing relationship of some kind...