Large property divided into 7 shares. Two out of the seven wants to sell their share.
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How do you sell your part of Heir Property, when others don’t want to sale their share?
Saturday, September 05th, 2009 / Joe
Category: sell your timeshare
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Check with a local real estate agent (or real estate lawyer, depending on where you live and what is standard). I took a real estate course (but never took the final exam) and remember a section dealing specifically with situations like this. It basically depends on how the estate was structured. In some cases, the remaining people would have to buy you out. In other cases, you can sell your "interest" to someone else.
hee hee! glad it’s you and not me.
talk to the other 5 and I am sure that they will buy your shares from you
Each of you pick an apprasial company and have the property appraised, then agree on who will do it,, or if you can afford it, pick three and agree to use the average. Then knowing the price, ask for a buyout from the others. You can go to court and force a sale (this is your real bargining chip).
The others will have to refinance or refinance the property to buy the 2 that want their part sold. If they don’t want to sell make sure you take the property through probate as that way you will have a court order to have them give you and the other your part in cash.