So me (31m) and my wife (33f) bought the house that she grew up in almost 3 years ago. We were fortunate enough that we had the income to carry 2 mortgages so we were able to put in a solid offer without contingencies, and just deal with the other house after we got this one squared away. Well shortly after her brother (28m) asked what our plans were with the house we were moving from. And she shot him a ,pretty low, sale price of 65k without talking with me first. I told her I don't like to do business with family because of the emotions involved, and someone always feel like they got the short end of the stick. Against my better judgment, and to avoid an argument I said whatever just get it out from under me and they can pay the mortgage payment and utilities so I don't have to worry about it. Well that was going on 3 years ago. Alot changes in 3 years. I have a cousin who is a real estate agent and she was originally going to sell our house for us. She is confident she could sell the house for 100 to 110k. That's a significant amount of money to essentially just be giving her brother in the form of equity. But recently him and his gf (28f) have been asking my wife if they could get a loan for 120k and pay us the 65k and we just give them the rest after we close so he can build a shop and pay off his truck and boat and whatever. That really ran all through me because I'd love to pay stuff off and I'm not a tax expert but that seems like a tax issue waiting to happen. I said no chance at all I'm doing that he has already drug his feet for 3 years and now this. I told her he should have bought it 3 years ago as planned and now my mind has changed and I'm selling for fair market value. Whether it be to him or someone else. Now she is angry with me because I'm going to cause a family feud and whatnot. Am I in the wrong here or should I stick to a verbal agreement that I wasn't present for 3 years ago at 65k?
Tldr:wife gave her brother a low ball price for what we would sell our house for and didn't speak with me. Now Im wanting to renegotiate the price and I'm just the worst person ever because I don't want to essentially just give 40k in equity to her brother who was supposed to have got everything bought and put in his name 3 years ago
Submitted February 27, 2022 at 12:21AM by Ill-Manufacturer1181 https://ift.tt/XcouVG7
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