Direct: 321-549-8707
Specializing in Senior Downsizing & Probate Real Estate in Brevard County, Florida

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What Should You Do If You Inherited Part of a House?

Have you inherited a house?  You may be feeling blessed and happy about it. This may be true, but sometimes you may feel burdened with the new responsibilities like paying taxes, maintaining your inherited house, repairs and various opinions with the other heirs.

So, what exactly are you supposed to do if you inherited the same house with your siblings? Well, there are a number of options that you can opt for, but first you need to understand what these options are and then agree on plan of action.

Listed below are 7 options to consider:

  1. Renovations -most inherited properties are in need of repairs and renovations.
  2. Fix and Flip-without your own money! Work with an investor and make money.
  3. Keep the House-Budget for expenses and all parties need to agree on usage.
  4. Rent it out-Rent out the house, you will need to share the income and the time involved in preparation, leasing, tenants and ongoing expenses.
  5. Seller Financing: If you have experience in “Owner Financing” this may be a viable option. You will need to work with a variety of experienced professionals.
  6. List the house: Selling a property is a detailed process which involves time, advertising, marketing, commitment money, inspections, and appraisals.
  7. Sell for Cash-AS IS: To most people inheriting a house is a daunting and emotional roller coaster. Although the property would sell for less than if it was remodeled, it could be the answer and use the cash for something else.

 

 If you have inherited part of a house and would like to consider any of the above scenarios contact Geiger Gould Properties for a detailed and Free-No Obligation evaluation of your situation. We are licensed and experienced in these situations. We offer creative solutions for your inherited property. If you are still in Probate, we can work with your Attorney and make the arrangements so when you are ready to sell the decisions have already been made. Before you make a final decision contact us: 321-549-8707 or Nancig@GeigerGould.com

 

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What Should You Do If You Inherited Part of a House?

Posted by on 5:07 pm in Uncategorized | 0 comments

What Should You Do If You Inherited Part of a House? Have you inherited a house? You may be feeling blessed and happy about it. Other people may assume you that you are happy about it. This may be true, but sometimes you may feel burdened too with the new responsibilities like paying taxes, maintaining your inherited house, repairs and various opinions with the other heirs. Does this sound familiar? So, what exactly are you supposed to do if you inherited the same house with your siblings? Well, there are a number of options that you can opt...

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Posted by on 3:17 pm in Uncategorized | 0 comments

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Posted by on 4:35 pm in Uncategorized | 0 comments

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Posted by on 4:34 pm in Uncategorized | 0 comments

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Posted by on 1:43 pm in Uncategorized | 0 comments

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Posted by on 2:58 pm in Uncategorized | 0 comments

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