Posted by dutch on May 23, 2006 at 24:19:38:
there are always closing costs, ie title insurance, pre-paids etc., UNLESS you do a kitchen close, which doesn’t sound feasable. You COULD sell it to him OWNER CARRY if you think he would pay you.
A local title or closing company could give you a pretty good idea of the fees for both the buyer (your Cousin) and the seller (you). He would also have loan costs on a new loan, yes?
He has agreed to refi and get you out? Friends or not, I’m not sure I would undertake that extra costs just because you don’t love each other any more. Understand, you entered into a business relationship and are now under your state’s partnership laws. I’m not sure you can force him to sell.
Best of luck