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

 

What is a C.P.R.E.S.?

Posted by on 3:23 pm in Uncategorized | 0 comments

WHAT IS A CPRES? CPRES stands for Certified Probate Real Estate Specialist. Brevard County Residents have a new option when it comes to selecting a Real Estate Professional to handle their inherited Real Estate! There are a large number of Probate filings in the local Courts, this is a complicated process with significant consequences, and it requires that Executors/Personal Representatives and Administrators have the knowledgeable resources to facilitate the marketing and sale of the real property. A CPRES understands and works within the...

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TOP 10 HOLIDAY PET HAZARDS!

Posted by on 8:49 am in Selling | 0 comments

PRESENTED BY NANCI E. GOULD-GEIGER GOULD PROPERTIES Top 10 Holiday Pet Hazards By Kathleen Doheny for WebVet | Reviewed by Amy I. Attas, VMD From table scraps to tinsel on the tree, certain items around your house may be perilous to your pet during the holidays. Next, check how savvy you are about the top 10 holiday pet hazards – and how to reduce the risks. Holiday Hazard #1: Chocolate Any chocolate is off-limits for pets. “Baker’s chocolate is the most [toxic],” Cook said. The darker the chocolate, the more dangerous it is...

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Debt collectors can call years after a foreclosure

Posted by on 8:41 am in Selling | 0 comments

WASHINGTON – Oct. 15, 2014 – Thousands of Americans who lost their homes to foreclosure years ago have moved on and rebuilt their finances, only to find that their past problem isn’t staying in the past. In more and more cases, mortgage lenders are contacting these homeowners and attempting to collect the debt forgiven as part of a short sale or foreclosure. “Using a legal tool known as a ‘deficiency judgment,’ lenders can ensure that borrowers are haunted by these zombie-like debts for years, and sometimes decades, to...

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SAFETY TIPS FOR SELLERS-6 POINTS TO DISCUSS:

Posted by on 7:20 pm in Uncategorized | 0 comments

SAFETY TIPS FOR SELLERS-6 POINTS TO DISCUSS: Before you list your property for sale, be sure to take the time to prepare and safe guard your home! Most people who view your home will be honest, but it is always better to be safe than sorry! This is meant as a way to help you stay secure not fearful of selling your home. 1. Prescription Drugs: Remove or lock them up while the house is on the market or at least prior to showings! There are a growing number of thefts of prescription drugs, especially during open houses 2. Stow away Valuables:...

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FLORIDA INSURANCE REFUNDS

Posted by on 7:32 pm in Neighborhood | 0 comments

Owners who overpaid flood ins. to get refund soon   WASHINGTON – Oct. 1, 2014 – The cost of federal flood insurance rose dramatically in some areas of Florida and the nation, but a law passed earlier this year, the Grimm-Cassidy Substitute Amendment to the Homeowner Flood Insurance Affordability Act of 2014, offers short-term relief. Some homeowners paid the higher flood insurance rate before the bill passed, and those owners are slated to receive a refund for the overpayment that has taken time to calculate. However, Rep. Bill Cassidy...

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SENIOR AND BABY BOOMER DOWNSIZING

Posted by on 6:13 pm in DOWNSIZING, Selling | 0 comments

SENIOR AND BABY BOOMER DOWNSIZING: As Seniors and Baby Boomers enter or are close to retirement, they may find they need assistance to help downsize to smaller homes and to help their aging parents relocate to a safer, more affordable, convenient living arrangements. Senior downsizing is a fact that nearly everyone, including their friends, neighbors, co-workers and others living in our community will at some point need or desire. If you are thinking of downsizing or have made a decision to downsize contact Geiger Gould Properties for a FREE,...

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BUYING OR SELLING PROBATE REAL ESTATE IN FLORIDA

Posted by on 1:37 pm in Buying, Selling | 0 comments

BUYING OR SELLING PROBATE IN FLORIDA Here’s just a bit of a primer for sellers and buyers of probate property (real estate) in Florida. It’s only the nuts and bolts – bottom line – INQUIRE EARLY TO SEE PROBATE IS NECESSARY! For Sellers: If you just inherited property in Florida and you’re looking to sell it, make sure your ducks are all in a row. You can’t sell the property you don’t legally own! We frequently get calls from real estate agents wanting to know how long probate in Florida will take. The answer is invariably, “it depends.” Don’t...

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ARE YOU THINKING OF DOWNSIZING BUT CONCERNED ABOUT YOUR PET?

Posted by on 3:20 pm in Uncategorized | 0 comments

ARE YOU THINKING OF DOWNSIZING BUT CONCERNED ABOUT YOUR PET? It is natural to worry about how your dog or cat will adjust to a new space. Don’t fear downsizing with your family pet doesn’t have to be stressful for you or your fluffy friend. With some forethought and planning you can help your pet “love” their new living arrangements and get them use to a new routine. • Before you move make sure the new location allows your type of pet. • Consider a first floor Apartment/Townhouse/duplex. They often have sliding glass doors to a patio and easy...

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Have you inherited a Mortgage?

Posted by on 5:02 pm in Uncategorized | 0 comments

Consumer Watchdog Makes It Easier To Add Heirs To Mortgages! Spouses, children and others who get title to a home after the death of a loved one can now be added to the property’s mortgage without having to first qualify financially, the Consumer Financial Protection Bureau (CFPB) said in an interpretive rule change. “Losing a loved one should not mean also losing your home. Today’s interpretive rule makes it clear that when family members inherit property, they can take over the mortgage without jumping through unnecessary...

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Welcome to our new blog

Posted by on 12:52 pm in Uncategorized | 0 comments

USE LIGHTING PROPERLY TO SELL YOUR HOME QUICKER!! You want to present your property in the best possible light. So be careful not to discount the importance of, proper lighting.. Many real estate professionals advise their clients to flip on the light switches before a showing, but often the advice stops there. Proper illumination makes a home feel warm, inviting, and even larger and more open. Some homes, when they’re on the market, can feel so dim and dark, “Just changing the lightbulbs can be like putting a fresh coat of paint on the...

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