Selling a house w/three owners?

[GKLAZZ]

Quick question if 1 owner of 3 wanted to sell a house could this be done if the others did not? or do all 3 have to agree to sell together? thx...

[The_Rural_Juror]

Are you related to that guy who wanted to boot his lazy ass sisters out?:rofl:

[HRD2PLZ]

If all 3 of the owners are on title then those 3 signatures would have to be on the purchase agreement. So yes, all 3 would have to agree to sell the property. If the other 2 don't want to sell, then maybe they can buy the other person out?

[extm88]

I forget his username but there is another guy on beyond who had the same thing happen. He and the other who wanted to stay just ended up buying the 3rd guy out.

[rinny]

All three have to give permission to put it up for sale, and all 3 signatures have to be on the documents when the property is sold.

If you are thinking about buying a property with others sit down with a lawyer and get documents drafted up that if any person should decide that they want to put the property up for sale, that all others must allow for this.

My brother just went through all this shit with a buddy of his, took almost a year to sell the house and they ended up selling for much less than they originally could have got. It was a huge hassle, numerous lawyers involved and many legal costs in the end.

I would suggest keeping a mortgage to a maximum of two people because even then it can be a nightmare in the end. As well as you think you know the person, when it comes to money and greed you never know what will happen.

[GKLAZZ]

cool thanks for the info :thumbsup: