
Help, we've inherited a property – how do we agree on what to do?
Florian, his brother Daniel, and his sister Yvonne inherited their father's house together. While Yvonne knew from the outset how much the property would fetch if sold, Daniel wanted to move in with his family and buy out his siblings. Florian wanted to wait and see what the future would bring and rent it out for the time being. Disputes were therefore inevitable.
Shortly before the foreclosure auction
The challenge was to reach an agreement that would make everyone happy and satisfied. Yvonne wasn't the only one who wanted to get everything done quickly; after all, the running costs had to be paid. After a quick look at current real estate prices, she was sure of what the house was worth. However, Daniel had a much lower figure in mind. The disputes went so far that Yvonne almost applied for a foreclosure sale.
First, have a property valuation carried out
Florian, who no longer cared what happened to the property, began to do some research. He quickly realized that a foreclosure auction usually resulted in financial losses. None of the three wanted that. To finally find a professional solution, Florian suggested having the property valued by an estate agent. Searching online for a property valuation, he found an expert who would carry out the valuation free of charge.
After viewing the property and taking all its special features and documentation into account, the agent came up with a figure: it was more than Daniel had thought, but less than Yvonne had estimated. Thanks to his conclusive, detailed, and comprehensible results, the real estate agent was ultimately able to convince even the skeptical Yvonne to abandon her idea.
A sale is usually the best solution for everyone
Ultimately, it turned out that Daniel couldn't afford to pay off his brother and sister. Even though the real estate agent was able to advise him on various financing options, the sum would have been too high. With a heavy heart, he finally agreed to sell. Thanks in particular to the agent's sensitive approach, who explained all the advantages to him in detail, a solution was found that suited all parties involved in the inheritance. With the proceeds, Daniel was even able to buy another property on a pro rata basis. And while Yvonne was finally able to go on her long-awaited trip around the world, Florian decided to save his share for the future.
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Note
For reasons of readability, the generic masculine form is used in this text. Female and other gender identities are expressly included where necessary for the meaning of the text.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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