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real estate sales between family members . what are the guide lines....appraisal verse sell price?

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October 22 2009 - Hailey
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Answers (2)

Are you asking what the sales price should be based on - the appraised value or recent sales price (market value)? Since appraised values are typically backward looking and many times the asking price is higher in a market moving upwards there can be a difference. If you're trying to determine the selling price this can be tricky. You may want to have a real estate expert provide you with comps of active, pending and recent sales to come up with a price that is fair and equitable.

Good luck!
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September 06 2013
There are various rules and guidelines to this question.  Are you asking for taxable reasons, purchase reasons, loan qualifying reasons, etc.?

The main thing to keep in mind today is that the lenders are very risk averse so they will typically accept the answer that is best for them and least beneficial to you since answer typically minimizes their risk.  Because of the "potential" for conflict, these transactions are scrutinized more than an average loan.
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November 08 2009
 
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