Zillow Advice: Buying Process - Negotiating a House Buyout http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ Zillow Advice | Zillow Real Estate Not much for me to add... ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ Not much for me to add... an attorney is a definite as mentioned several times.&nbsp; Best of luck! Thu, 17 Oct 2013 15:41:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-17T15:41:00Z It seems reasonable to me, ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ It seems reasonable to me, and I congratulate you both on your maturity which is demonstrated by your taking the step of putting together a grown-up partnership agreement. Seriously, dudes, you rock!<br/><br/>We're not going to write your contract for you, but I think it's reasonable to have a buyout clause that discounts brokerage fees. Frankly, the trickier part is agreeing on how you will determine the value if you decide to buy each other out - will you have one appraisal, will you each have an appraisal and then average them out?<br/><br/>I cannot express how joyful I feel when I read a question like yours! And you know what? It's not just "if you separate;" partnership agreements are essential in case one of you are incapacitated and a family member attempts to take control of the affairs, too. <br/><br/>I suggest taking a walk around the block and trying to understand these clauses and how they will affect you, from both sides of the arrangement. I think you'll find that the brokerage fee thing makes sense, but it may also help you explore other parts of the arrangement, as well.<br/><br/>All the best,&nbsp; Thu, 17 Oct 2013 07:10:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-17T07:10:00Z This is exactly why you need ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ This is exactly why you need to see an attorney to draft and finalize the agreement.&nbsp;&nbsp;&nbsp; Your partner's suggestion is an excellent suggestion.&nbsp; Usually the sellers pay the agent commission in Oregon.&nbsp;&nbsp; (I don't know any state where it is routine that the buyer pay it all.)<br/><br/> Wed, 16 Oct 2013 23:33:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-16T23:33:00Z Any time you are crafting ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ Any time you are crafting an agreement, should you violate the law in one portion, it could in the end void the whole agreement.&nbsp; One word can change the meaning of a law and make it unenforceable.<br/><br/>Don't risk a bigger mess later on...go to an attorney to assist you. Wed, 16 Oct 2013 21:40:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-16T21:40:00Z Whew, yes I have to agree ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ Whew, yes I have to agree with the below. We all probably have great lawyer contact for you. I would recommend a lawyer review the agreement and answer all your questions before you sign. Wed, 16 Oct 2013 19:55:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-16T19:55:00Z I'd be happy to recommend ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ I'd be happy to recommend a good real estate attorney in Portland. Drop me a note. Wed, 16 Oct 2013 16:05:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-16T16:05:00Z Hi Joel,First of all you'll ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ Hi Joel,<br/>First of all you'll need to talk to an attorney about the contract language. As for the brokers fee this is usually determined at the time the home is listed and in most cases the seller is paying that fee. As for the buyers mortgage closing cost this gets negotiated at the time of making an offer. In many cases this again is paid for by the seller because it means less out of pocket cost for the buyer. About the only time this is not wrapped into the deal is when the buyer is paying cash. I hope this helps.<br/><br/>Take Care<br/>Sean Tue, 15 Oct 2013 18:42:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-15T18:42:00Z Sounds like it's lawyer time ... http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ Sounds like it's lawyer time to discuss this.<br/><br/> Tue, 15 Oct 2013 18:13:00 GMT http://www.zillow.com/advice-thread/Negotiating-a-House-Buyout/515381/ 2013-10-15T18:13:00Z