“You will still get the benefit of a sale in a few years and collect on the lease every month in the meantime.”
Sell House Fast – Euless TX: One of the problems buyers face today is the lenders’ tightened up application process. Fewer people qualify for loans these days so perhaps you can offer a lease option for a few years until they qualify for a conventional loan? [..read more..]
Originally posted 2011-10-25 00:02:32. Republished by Blog Post Promoter
Inheriting a house can be a great thing or it can be a challenge that pops into your life unexpectedly.
We Buy Houses - Baltimore MD: You have just received news that your uncle passed away and left you his house, paid for free and clear. There are two ways to feel about that. First, you might be thrilled as you have wanted to move and weren’t sure how you’d pull it off financially. Now you own a house you can live in.
Your other possible thought might be that you don’t have time to go over and take care of the property and you are too busy to handle a rental. Your uncle was fond of you, but you didn’t really spend much time there at the house he left you. That might actually be a good thing as it helps to eliminate the sentimental feelings you might otherwise have about it.
Sentiment Does Much to Complicate Inheritance Issues.
Sometimes people insist on hanging on to houses that they can’t afford to keep up and are too far away to do them any good. Renting it out might be an option if you are willing to drive back and forth to the house when necessary as things need to be tended to or when you must check up on the renter. Many people have entered the rental business with their first house being one they inherited from a family member. Others simply find the house a nuisance and one more thing they have to take care of in their already too busy lifestyles. The deceased always assumes that they are doing something nice for their surviving loved ones.
When There is Another Beneficiary to the House?
Perhaps there is more than one beneficiary to the house. If you have been left the house along with your cousin or siblings, the best thing to do might be to sell it and add it to the rest of the estate assets. That makes it easier to divide the assets as cash and distribute them fairly and according to the will. In that case you’ll want to sell the house as quickly as possible so you can get the estate settled. The longer you all own the house, the longer you will need to decide who pays for the lawn mowing or actually goes over to do it on their day off, who will pay the electric bill, the insurance, and the taxes among other expenses. The faster you can sell it the more profit margin you will have left when it sells.
Republished by Blog Post Promoter