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Inheritance

Friday, June 11th, 2021

You recently inherited a home, mortgage free. A family member tells you he would like to buy the home, and asks if you would be willing to carry the note and accept NO cash down payment.

Your answer is “No”.

If you live in another state, your answer is “Definitely No.”

If you don’t trust or get along with this family member, your answer is “Hell No.”

There may be a few people who can handle this situation where all works out well. But, my experience tells me that you are best served by finding a realtor, selling the property to a qualified buyer, cashing out and moving on with your life. Plus, any emotional attachment you have will now dissipate over time, which may be the best reason to not sell to a family member.

 

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