What do you need to put in an agreement for a condo buyout?

Answer by  NGoodson (3395)

The best thing is to have an attorney help you draw up the paperwork because you need to make sure that both of you are protected.

Answer by  patti (29325)

If you plan to pay him in full for his interest in the property, he can give you a quit claim deed, which relinquishes his right to the property and signs them over to you. If you plan to do a staged buyout over time, you might involve an attorney to write up the agreement.

Answer by  Latin4 (11170)

This could become messy and you would be better off letting an real estate attorney guide you through this process. This will save alot of headaches in the future.

Answer by  patti (29325)

Seek the assistance of an attorney. It will cost a few hundred dollars to prepare the agreement, which will be priceless for both you and your roommate.

Answer by  Devin98 (487)

You will need to include the price, the amount of taxes each will pay, who is paying for closing costs to change over the deed, the date the closing will take place and where along with any other contingencies that you both decide need to be taken care of in writing.