Does the seller have a minimum price guideline they must follow? Can the owner post any selling price for home.

San Diego, CA Viewed 12 times. Posted 9 months ago in Real Estate

mortgages total 200, 000. Owner lost job selling home after 20 years. Can he sell home to son for 200, 001? This would keep loan current, bring monthly payment down..

Additional information
If there was a lien on the property and the sale price was not enough to cover the lien what happens to it? The lien had to do with child support my soon to be exhusband had not paid in full. I am looking for some way to not have my assets connected with this lien. This is my husbands debt.

Answer this question Add to list

Answers (1)

David G. Weilbacher, Esq.

This attorney is licensed in Ohio. Posted 9 months ago.

It sounds like you are using your son to "refinance" your home. A seller can set any price they wish for their property.

This answer is made available by the lawyer for educational purposes only. It is also to give you general information and a general understanding of the law. This website is not intended to give you specific legal advice. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. I attempt to provide quality information, but the law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance.

www.dgw-law.com