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What's the best thing to do with inherited property?
What's the best thing to do with inherited property? Thanks.
Asked By John | Greensburg, PA | 687 views | Tips Advice | 2 years ago
Answer(5)
Josephine & Raj Sharma
Legacy Homes Realty
Hi John, the best course of action with inherited property depends on individual circumstances and financial goals. Some options include selling the property, renting it out, using it as a primary residence, or holding onto it as an investment. It is recommended to consider factors such as market conditions, property maintenance costs, and tax implications before making a decision. Seeking the advice of a financial advisor or your CPA may also be helpful.
- 2 years ago
Helpful (5)
Unhelpful (0)
Mary Castro
EXP Realty
Depending on the condition of the home, you can either flip it, sell it, rent it,or donate it.
- 2 years ago
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Glenda X Bozett
Michael Alexander Properties
Selling the property, renting it out, use it as primary residence, donate it, etc.
- 2 years ago
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Pauline Dent
Keller Williams Chantilly Ventures
Keep it! This is what we call mailbox money! Its an investment that should bring you financial freedom over time. The only consideration of selling would be if its a money pit that will just cost you a ton to keep up with it and negative offset for rental income.
- 2 years ago
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Thom Lemon
AustinHomeStore.com
There Several Options When One Inherits Real Property:
If you have recently inherited Real Property and are not quite sure what to do with it, your choices include: move-in and occupy the property, sell it or rent it out source of passage income. Some people may also opt to donate the property to their favorite charitable organization.
Thom Lemon is a Broker in Texas and is also a REALTOR®. Thinking about buying or selling real estate in Austin, TX? Call/Text Thom at 512-346-7355 or email him at [email protected]
- 2 years ago
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