Help, we have inherited a property - how do we come to an agreement?

One person wants to move in themselves, another wants to sell, a third is considering whether it would be sensible to rent out. If several people inherit a property, there are often different ideas about what should happen to it. This often leads to disputes within the community of heirs. A case study.

Florian, his brother Daniel and his sister Yvonne inherited their father's house together. While it was clear to Yvonne from the outset what the property would fetch if it was sold, Daniel wanted to move in with his family and pay off his siblings. Florian wanted to wait and see what the future would bring and rent it out first. Disputes were therefore inevitable.

Shortly before foreclosure

The challenge was to come to an agreement so that everyone was happy and satisfied. Yvonne wasn't the only one who wanted to get everything done quickly - after all, the running costs had to be paid. After a quick look at the current property prices, she was sure what the house was worth. Daniel, however, had a much lower figure in mind. The disputes went so far that Yvonne almost filed for foreclosure.

First have a property valuation carried out

Florian, who by now didn't care what happened to the property, started to do some research. He quickly realized that a forced sale usually involves financial losses. None of the three wanted that. In order to finally find a professional solution, Florian suggested having the property valued by an estate agent. By searching the Internet for a property valuation, he found an expert who would carry out the valuation free of charge.

After he had inspected the property and taken all the special features and documents into account, the result was clear: it was more than Daniel had thought, but also less than Yvonne had estimated. Thanks to his conclusive, detailed and comprehensible result, the estate agent was ultimately able to convince even the skeptical Yvonne to change her mind.

A sale is usually the best solution for everyone

In the end, it turned out that Daniel could not afford to pay off his brother and sister. Even though the estate agent was able to advise him on various financing options, the sum would have been too high. It was with a heavy heart that he finally agreed to sell. Thanks in particular to the sensitive manner of the estate agent, who explained all the advantages to him in detail, a solution was found that suited all parties in the community of heirs. With the proceeds, Daniel was even able to afford another property on a pro rata basis. And while Yvonne was finally able to embark on a long-awaited trip around the world, Florian decided to save his share for the future.

Not sure what to do with a jointly inherited property and what it is worth? Get in touch with us! We will be happy to advise you!

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