Wez Posted June 7, 2011 Share Posted June 7, 2011 Hey All, Just wondering if anyone here has any experience with buying/selling property to/from friends and family? Quote Link to comment Share on other sites More sharing options...
grahamc Posted June 7, 2011 Share Posted June 7, 2011 I don't.... But I'm interested in the responses as well, as I may have to do similar soon. Quote Link to comment Share on other sites More sharing options...
bignum Posted June 7, 2011 Share Posted June 7, 2011 Almost, was a nightmare from day1, brother in law was interested in buying my house last year and wanted to live there rent free untill he had sold/rented his house, you can imagine what i told him, obviously depends what the person is like but tbh anything with family they always take the pee. Quote Link to comment Share on other sites More sharing options...
Chris Wilson Posted June 7, 2011 Share Posted June 7, 2011 Don't? Quote Link to comment Share on other sites More sharing options...
SPG Posted June 7, 2011 Share Posted June 7, 2011 I tend to always steer well clear of Family and Friends when selling property, its just a never ending story Quote Link to comment Share on other sites More sharing options...
Scott Posted June 7, 2011 Share Posted June 7, 2011 Always a bad idea. No matter how long it is before something goes wrong you will always be blamed/held accountable. Quote Link to comment Share on other sites More sharing options...
ManwithSupra Posted June 7, 2011 Share Posted June 7, 2011 Don't? Agreed !! - Just dont its not worth it. Quote Link to comment Share on other sites More sharing options...
Abz Posted June 7, 2011 Share Posted June 7, 2011 Well depending how close they will mean how difficult it is. Either way you would need to involve a solicitor to carry out all the paper work. Quote Link to comment Share on other sites More sharing options...
Paul Posted June 8, 2011 Share Posted June 8, 2011 Purchased a house years back off a friends family, his mum had been left it and we agreed to meet up and discuss details, price etc. Obviously we didn't go through an estate agent but they still wanted well over the market value despite the saving they would make in estate agent fees, we walked away and said it was overpriced. Well, several weeks later my mate phoned and said to expect a call from his parents as they had realised/he had convinced them that we were making a fair and reasonable offer for the place, got the call and bought the place. Not without it's problems as his parents wanted to take all the old tatty light fittings and keep them and leave us with wires hanging out of the ceiling, my mate told them they would need to at least replace with cheapo pendant lights and they then left it how it was. I think his mum dug up any half decent plants in the garden though and had them for herself Quote Link to comment Share on other sites More sharing options...
mikeyh Posted June 8, 2011 Share Posted June 8, 2011 i purchased mine off of my brother 4yrs ago and all went great we were both 100% happy:) Quote Link to comment Share on other sites More sharing options...
dangerous brain Posted June 8, 2011 Share Posted June 8, 2011 I sold my flat to my now late step-father. He did indeed move in with myself and my ex wife and lived rent free until the purchase of our house finalised which in the end took 5 months. Despite me being offered over £10k more for it than he paid he insisted I had ripped him off. In fact relations got so bad because of it that we ended up not speaking for the last year of his life and found out from the police that he had died in the flat. He left no will so the brother that hated him his whole life and ostracised him from the family took the flat, its contents, and his very bulging bank account. Quote Link to comment Share on other sites More sharing options...
Guest wantthatone Posted June 8, 2011 Share Posted June 8, 2011 Don't? +1 Quote Link to comment Share on other sites More sharing options...
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