Expert: Lori Frankfort - 3/2/2008

Question
Our neighbor has offered to buy our house for a fair price.  We are inclined to sell.  
What do we do?  Hire an escrow company is my guess.  Then what?  I have never bought/sold a house.

Thank you

Answer
How do you know the amount is a fair price?  That would be my biggest concern.  If you're positive it's not worth more than what they are offering then you should go ahead and hire an escrow company to handle the transaction.  You'll need to provide the escrow company with a purchase contract, which the buyer should give you.  It might be worth the money to hire an attorney or Realtor to look over the contract and advise you of the terms.

Best,
Lori