What are we going to do with mom’s house? Dozens of Southern California families are faced with this question daily and it can be difficult to get straight answers. In addition to the legal issues, you and your siblings will be faced with a host of financial decisions:
- How do we dispose of mom’s belongings?
- Should we rent or sell?
- What’s the current market value?
- What’s the current rental value?
- Which repairs and renovations are necessary?
- If we decide to renovate, how much will it cost?
- How much more rent / higher sales price can we expect if we make renovations?
- What about mom’s mortgage?
- Can I get a mortgage to buy-out my: brother / sister / aunt / uncle /cousin?
- Do we need an appraisal?
- We don’t want to be landlords; if we decide to rent can a property manager handle all the details?
- Can a property manager disperse the monthly proceeds to all the family members and keep the records?
We’ve been helping families deal with mom’s house for 30+ years, and we’d love to help you.
We’ve been helping families deal with mom’s house for 30+ years, and we’d love to help you. The Summit Financial Network brings together a team of professionals (Mortgage, Property Management, Real Estate Sales and R/E Investment) to help families consider all their options, develop an action plan and then execute on that plan.