As the header says, that’s the overall situation.
I am 28 years old, my brother is 30.
I have spoken with realtors, attorneys, and banks.
The house and property in question is valued at 600k (if it was in good shape). However it’s genuinely dilapidated. The estimates I’ve gotten are that short-selling is even going to be a good trick.
I have a meeting with another realtor who happens to be a family friend. He’s called title companies and estimated the property debt at 350k. Given the actual state of the house, I think it would probably be demolished and we should sell the items inside. (completely fine with me) But at this point my brother and I are essentially just trying to figure out how to remove ourselves from this and possibly not miss out on any money to be made from the property.
The realtor is essentially telling me that the titles and debt will be signed over to me, which I’m understandably reticent about because I’m ~28 fuckin’ years old~, I’m a bartender, I have no capital to put up to pay form attorney so I’m reliant on favors, and my parents died 28 days apart.
There are no wills, no real legal ties to the debt, and my dad left us with a mountain of things that we have nothing to really do with. I could certainly call the banks and just give up the house, and I’m genuinely considering it. My brother has already shrugged and said “so be it” due to his mental health state after losing both of our parents so young, and so the task has mostly been relegated to me. ANYONE please offer any advice and explain like I’m 5 so I don’t get bamboozled, or just let me know if I should walk away.
Submitted June 30, 2021 at 12:17AM by mpdoe https://ift.tt/3h5txHr
