Hi All,
Just looking for some advice on the following: My sister and I have recently inherited a house from a deceased relative. All the paperwork regarding the will is done and dusted and the house is now in our joint names. My sister would like to buy out my half of the house and I'm willing to sell it to her but we're both wondering if she actually needs to take out a mortgage at all. Can we get a legal agreement drawn up where by she pays me "x" amount of monthly instalments until she has paid me half the value of the house? This would save her a fortune on interest that she'd be charged from a bank if it was possible.
Any advice welcome. Thanks.
Just looking for some advice on the following: My sister and I have recently inherited a house from a deceased relative. All the paperwork regarding the will is done and dusted and the house is now in our joint names. My sister would like to buy out my half of the house and I'm willing to sell it to her but we're both wondering if she actually needs to take out a mortgage at all. Can we get a legal agreement drawn up where by she pays me "x" amount of monthly instalments until she has paid me half the value of the house? This would save her a fortune on interest that she'd be charged from a bank if it was possible.
Any advice welcome. Thanks.