I Want to Sell My 50% Ownership of a Home
My question involves real estate located in the State of: CA
I own 50% of a home & I want to sell it & try and purchase my own separate home. The other 50% owner of the home is unsure if they want to buy it, if I can't sell it to that person how can I sell part of a home. We both live in it - one in the original home (1950's) & myself in an addition (1980's). It's still 1 house & my side is unable to have a stove (I use a toaster oven for a family of 4). If the other owner chooses not to buy, are there buyers out there who purchase 50% of homes or am I left w/ no choice but to remain here.
Thanks.
Re: I Want to Sell My 50% Ownership of a Home
As I see it....
If you can find somebody willing to buy out your interest, you can sell your interest. If you do that, I would not expect to get anything close to 50% of market value of the home.
You can hire a lawyer and sue for partition and sale. That will probably cost $10-20,000, and may take a very long time to resolve.
You can try to convince your co-owner to let you buy out your co-owner's interest.
You can convince your co-owner to buy out your interest.