Buying Sister out of inherited house

[skinnytobe]

Just a quick query.

DP is buying his sister out of their inherited house. We currently live here.

She will have had around 70k cash (already had half of this)

The other 70k will be mortgage.

We know it'll have to be done via legal channels

But how does this work? What do we need to do?

Just see a solicitor to organise wouldn't you? In the usual way? Just side stepping the estate agent.

Start by googling "conveyancing solicitors".

Then find two or 3 firms who offer a good price and a free initial chat.

Then ask all your questions of people with expert legal qualifications and pay the one you think seems best a (hopefully fixed) fee to get this done properly.

Your sister is, in effect, the vendor. So she gets the mortgage money. Yes, do see a conveyancer who can draw up the agreements and sale contract but it’s pretty straightforward.

Thank you, I thought it might be a bit more complicated because he's paid her half in three parts already

That’s a private agreement and should also be recognised in the contract. It’s a “deposit”.