What If More Than One Person Owns A House in Modesto You’re Trying To Sell?

Roommates are rapidly becoming the new norm for house-buying, and many people will pool their resources to get out of an apartment. Furthermore, many married couples own their homes jointly. But if any one of these situations tries to sell a house in Modesto, it can get complicated. Here’s some tips for selling a home that happens to be owned by more than one person.

Joint Tenancy Versus Tenancy In Common

There are two ways that multiple owners can buy one home. The first is joint tenancy, where each buyer has total rights over the house, and the house can pass on to their loved ones if they die. The second is tenancy in common, where each buyer has full ownership over a certain section of the property, and partial ownership over another. While joint tenancy would assist when multiple members of one family own one house, tenancy in common is more likely to be seen among homes that have been split into attached duplexes or apartments. Both of these agreements have different laws surrounding their sale, and you have to be sure that you’re not breaking the rules when selling under them.

All Owners Must Agree To Sell

The easiest way to ensure that you can sell a multiple-owned house is to make sure that all of the owners are ready to sell! If not, you can simply sell your share of the house off to one of the other owners, and while that might not make you as much money, it will get you out of the deal. Talk to the other owners of the house before putting it on the market, and ensure that all of them are okay with your choice of realtor, staging techniques, and plan of dividing profits.

Selling A Home in Modesto With Multiple Owners

Of course, if you’re looking to sell a house in Modesto with multiple owners and you’re still unsure of how to do so, you can always sell to a cash-for-homes company like Rapido House Buyers. We’re excited to help you through this time, and we’ve been in the business awhile- we know exactly how to help you. We can help you sell your home in Modesto fast for cash. Don’t hesitate- sell with Rapido House Buyers today.