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What does a seller pay when selling their part of inherited real estate to the other heirs.

There are six heirs to real estate located in Atlanta. Five want to retain the property and one heir wants to have their part of it bought by the others. The estate attorney wants to charge the seller fees as if he were a broker and as if this were a real sale. What fees if any would the seller be responsible for?
  • November 30 2012 - US
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Answers (1)

Profile picture for StuartSantana
Have you guys taken title yet?  Others more familiar with this sort of scenario would be more useful...but this is what I would do/ask/consider if I were in your shoes:

1. How have we taken title, or have we not yet? (Question for the attorney)
2. How much is my interest in the property worth? (Might have to consult a local Realtor to get an idea on value or have everyone split the cost of an appraisal if you haven't already)
3. Inquire with your attorney on how much he would charge to do all the paperwork associated with the sale of your share to the rest of the heirs
4. Where are you from?  Do escrow companies exist in your state?

I think with those 3 answers the community might be able to give you better advice.

Best wishes from So-Cal and good luck

  • November 30 2012
  • 0Yes

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