Quote:
Originally Posted by baddog
I would be the seller in this instance. It is for a friend, so I want to be fair, but would also like to turn a small profit.
I guess I could set it up so it would be fair market value or 20% over current cost (at time of lease) whichever is greater.
|
If it is for a friend sit down with them and agree on a certified appraiser together and go by the appraisal price at time of sale. You could also add in a clause that says if the price is not at or above X dollars that the sale does not occur. Keep in mind that if the selling price is higher than the appraised price it may make obtaining a mortgage very difficult.