Akron, OH asked in Real Estate Law for Ohio

Q: I am selling my house (pd in full) to my niece for 100,000 waiting on appraisal est. 115,000 what documents do I need

She is working with a mortgage co and she is paying all closing costs?

Other than the proper documentation- what else should I have?

Related Topics:
1 Lawyer Answer
Hunter G. Cavell
Hunter G. Cavell

A: It sounds like it will appraise no problem, so that should not be an issue. Your niece's loan officer will want an appraisal for the mortgage company, but they should handle the closing/title insurance/tax escrow, etc. The loan officer will not talk to you, so ask your niece if anything else is needed. While she is also not obligated to tell you, it sounds like you're giving her a sweetheart, below fair market value deal, so she will want to work with you. Again, this should all fall on her/her bank's/her loan officer's shoulders.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.