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Fair buyout price?

Sorry if this is mislabeled or not posted in the right sub. I need some advice on how to handle a buyout.

Me and a cousin purchased a foreclosure in 2018 for $380,000, we agreed that we would keep the home for 5 years. We also agreed that at the end of 5 years I could buy him out, or we would sell the house. We refinanced in 2020 so I put down $25,000 more than my cousin so that we could get rid of PMI. The house is now worth about $535,000. Assuming the value of the house is still 535k next year and the remaining mortgage balance is 347k, what would be a fair offer for a buyout currently?

Side notes and questions I have -

I know I am up $25,000 in equity vs my cousin.

I'm not worried about being screwed over, I just want to make sure everything is fair.

Should my cousin be responsible for part of closing costs even if we don't go though a realtor for me buying him out? I will have to pay some part of them when I sell the house.

Should I have a realtor make the offer?

submitted by /u/Superheromitch
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source https://www.reddit.com/r/RealEstate/comments/xlx8kx/fair_buyout_price/
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