The home will be sold for what was paid which would be about $25k - $35k below current fmv. So how do you...

1) sell it without destroying current comps
2) make transaction without paying high commission rates..is fsbo the only option?
3) any other factors to consider?

I am confused. Do you already have a buyer, inside the family, for the home?

If yes, 1 and 2 don't matter.

Yes

I just don't want a future buyer or a buyer of nearby house to be able to see that it was sold for less than market value.

Moreover, Texas is a non-disclosure state, so the threat of someone "seeing" the sales price would be rare as the only people who would be privy to that information would be the buyers, sellers, title company, and attorneys, etc.

Hire a real estate attorney. They're relatively inexpensive to mediate something like this. He/she will most likely recommend a title company just to make sure the title is clean and to have insurance on it. If you're in DFW I can recommend a pretty good one that doesn't charge an arm and a leg. He's done two commercial properties and one residential for me.

Is this a cash transaction or will there be financing involved?

I practice real estate law and would be happy to visit with you and give you my thoughts. Feel free to email on my personal account and I can give you more info. Jrp1078 At aol . Com

Talk to a real estate attorney. That's probably the easiet route.

While using a RE attorney is the safest recommendation, you can do this without one.

Go here and select form 20-13

https://www.trec.texas.gov/formslawscontracts/forms/forms-contracts.asp

Negotiate what is negotiable but there is not much left for discussion. It is what Realtors use.

Contact title company. Once the contract is done, take it to title with an earnest money check to finalize the deal. Title can walk you through the rest.

If using a mortgage for financing, they lender will use the lessor of the contract or the appraisal.

house is not in TX, but I appreciate the responses so far.

I've done this. Had house appraised. Completed contract documents with selling price being the appraised amount Then they applied for loan. Lenders then did their own appraisal. All was ok and Loan went through. At closing, the title company had documents for the balance on my loan that was paid to be paid off and I how much money i would be receiving (difference between my loan balance that got paid off and the selinb price less any closing costs I was responsible for). I got the check about a week later. Deposited check in my bank. Then gift back the money agreed to with family member buying the house (following IRS gifting rules). Wife and I can each gift back 14K per year for a total of 28K per year. Do this every year until agreement is met. It was one our kids that bought the house from us. You need to make sure this family member is someone who qualifies under IRS gifting rules.

Aggie95 said:

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house is not in TX, but I appreciate the responses so far.

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That would have been a good piece of info to start with. Every state has different real estate laws. Find an attorney in your state and ask them.

Check out this website.

https://www.nationalfamilymortgage.com/