Am part owner of a house. Should I agree to sell EVEN WITH THE CONDITIONS LISTED?

Asked almost 2 years ago - Tallahassee, FL

The other owners want me to sign a waiver to sell the house. I agree, but I refuse any ADDENDUMS saying anything other then "I agree to sell the house". I will not pay any extra costs, like they want me to. Here is the language they want me to agree to. Why won't they let me skip paying the realtor, closing costs and mortgage balance?

"I will be entitled to 1/18th of the sale proceeds, after deducting only the realtor's fees, the seller's closing costs and unpaid balance due on the mortgage note on the property."

Additional information

PLEASE EXPLAIN FULLY! I am acting as my own attorney because I don't trust the attorney handling this.

Attorney answers (3)

  1. Carol Anne Johnson

    Contributor Level 18
    Best Answer
    chosen by asker

    Answered . If you hold a 1/18th share of a home, then you also own a 1/8th share of the expenses incurred to sell the home, satisfy the current mortgage, and any other legitimate liens (taxes, etc.) that are due on sale. Why should the other owners have to pay for all of that and you pay nothing? I don't understand your objection. Why SHOULD they let you skip paying the realtor, closing costs and mortgage balance??? If you don't agree to sell, then they will be obligated to obtain a judicial partition and forced sale of the home. At that time, all expenses will be paid from the proceeds before any of the owners see anything. So, you will end up with the same result, but with the addition of court costs, too. If you feel that you do not owe any expenses on the home, seek the advice of a real estate attorney who can explain it to you.

    Carol Johnson Law Firm, P.A. : (727) 647-6645 : carol@caroljohnsonlaw.com : Wills, Trusts, Real Property, Probate,... more
  2. Heather Morcroft

    Contributor Level 20

    1

    Lawyer agrees

    Answered . No one on here can explain fully without reviewing everything. However, it is not uncommon to expect everyone to share in the costs of the sale in some proportion, and it sounds like there are a lot of people involved. The advice you are asking for may involve you needing to obtain actual representation by an attorney. If the attorney handling the situation does not represent you, it is very reasonable for you not to rely on his or her representations.

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******
  3. Nina Larae Ferraro

    Contributor Level 6

    1

    Lawyer agrees

    Answered . First, I agree that without reviewing the proposed Contract no one can fully answer your question. Attorneys are usually very inexpensive, will charge a fixed rate AND will let you put their fee on the settlement statement to be paid at the time of closing so you really should think about hiring an attorney or at least consulting with an attorney. The contract can always be negotiated and you can certainly make a counter-offer regardless of what the proposed offer currently looks like. If a realtor is involved working with you he or she may also be able to help you make a counter-offer based on your wishes. Good luck!

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