Have You inherited a property and now you want to know how do I refinance it? I I’m going to actually share with you how to refinance it, what are your selling options and how do you do it while keeping the family together instead of arguments with close relatives. So, how do you refinance inherited property? This is surprisingly a question that I get more often than you might think. People actually come here, and they know that I’ve closed on several of houses and they want to know, “Marquis, what do you do when you’re working with families where there’s been a death in the family, properties been inherited?” So today, I’m going to talk about this magic word right here. How do you refinance inherited property? I’m going to dive deep into this and help you get this conversation. I think you need to understand that this can be for many people a sensitive conversation piece because there’s sentimentality issues. Someone died and someone is feeling like, I can’t let go of mom and dad house or land yet or my great or other family member so let’s hold on to the property.
Usually, the property is not always in the best of condition if someone was at the end of their life. And what it does is it creates an opportunity for argument among siblings. So, one says, I want to sell it. One says that I want to hold it. And then it becomes this game of, “Wait a second. Can I actually buy out my siblings and still keep the property?” Hence, the conversation about the refinance. Refinance basically says we do not want to sell the property, but we need to get some money out of it that we can give to some people so that we can buy out the heirs. People that basically have title to the property the refinance could be a great solution because while some might want to keep, and some might want to sell.
The heirs that want to keep the property maybe they are trying to honor some past person’s wishes and or maybe they think this is a great opportunity to turn it into an investment property. So, let me just say a couple of things on that. First of all, don’t try to become an expert investor on an inherited property that you’re like, “Let’s turn this into a moneymaker.” It might not be a good idea.
I actually help people in this situation all the time. I can offer you a fair price for your house and pay all closing no cost to you. If this is something that interest you be sure to go over to our site and submit the property information or just call me personally at 912.226.1114.