What Do You Do When the Heirs Can’t Agree on a Sales Price for the Property in the Estate?

I got a listener question this week and it was, "what do you do when the heirs can’t agree on a sales price for the property in the estate"? That’s a really good question, but I have to tell you that in reality, you get it less often than you might think. However, over time it will happen so it's good to know how to handle that situation. In this short episode, I will tell you how I handle those conversations and you can put your own spin on it.

Key Highlights:

[00:01 - 02:10] Opening Segment

• An overview of how to get the family to agree on a sales price for a property

[02:11 - 06:28] What Do You Do When the Heirs Can’t Agree on a Sales Price?

• It is important to be realistic about what needs to be done to fix up the property

• Be prepared to discuss those costs with the family representative

• What's most important is to listen to the family's concerns

• Get the family involved in the discussion and know what they would do if they lived there

[06:29 - 07:48] Closing Segment

• You should go back to the facts and the costs

Key Quotes:

"Your goal is to get the family involved in the discussion and get them invested in seeing themselves in the property." - Sharon Vornholt

WANT TO LEARN MORE?

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Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

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