Katharina H. and her siblings found it difficult to agree on what should become of the jointly owned inherited property. Georg wanted to sell the property. Jana wanted to move in. Arguments were inevitable. In this interview, Katharina explains how her problem was resolved.
Ms. H., what was the biggest problem with your inherited property?
My siblings and I found it difficult to find a joint solution for our inherited property. My sister wanted to move in, my brother preferred to sell. He had a very clear idea of how much the property was worth and wanted to get things over with as quickly as possible.
After all, the running costs for the property had to be paid and Georg didn't want to pay for a property that would soon belong to his sister. Jana, on the other hand, thought the property was much cheaper than Georg. I, on the other hand, was totally unsure what to do with the property.
How did you go about solving the problem?
I then suggested having the property valued by a professional. Because when two people have such different ideas, a professional simply has to say what is right. I then googled "property valuation" in our region and found the website of a real estate agent who offered a free property valuation.
What was his conclusion?
After inspecting the property, taking all the special features into account and checking all the necessary documents, he came to the conclusion that it was not worth as much as Georg thought, but considerably more than Jana had assumed.
The estate agent also showed us transparently how he determined the value of the property. It was all conclusive and comprehensible. The professional valuation convinced Georg and Jana, even though they had very different ideas. And my brother in particular is always hard to convince.
How did you come to an agreement?
The estate agent then showed us the possible options for the property. Paying us off was beyond Jana's financial means, although the estate agent was able to suggest various financing options.
In the end, she had to agree to the sale. That was difficult for her. But the estate agent handled the situation very sensitively. You could tell that he often deals with cases like this. But in the end, she was also satisfied with the proceeds.
Are you unsure what the best solution is for your inherited property? Get in touch with us! We will be happy to advise you.
Notes
For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.
