by Mr. T in DC
Question by Mr Yankee: I own a house with my brother, I would like to buy him out and cash in the equity. How can this done?
Do I refinance? A new mortgage? How do we determine buy out price?
Answer by Alex H
Get a realitor to assess market price, then pay him half. Either in cash, or get a mortgage in your own name for the full value.
But you can’t cut him out without his consent — if that’s what you’re hoping for.
What do you think? Answer below!