Real Estate Versus Stocks
Are there investors who will purchase my 20% interest in an inherited property for cash?
In early 2007 my mother passed and left my parents home in sw WA state to five of us…so we each have a 20% stake in the sale of the house. One of the five was designated as executor to handle the estate details. The house has not sold, even with several small reductions in price and some rehab work done to make the property more appealing.
My problem is….I’m a stock options guy, not a real estate guy, and would prefer to sell off my 20% in favor of cash in hand. The stock market will undoubtedly recover many, many months before the real estate market. The falling market values versus fair market price versus the executor wanting to get the most for the sale has me stuck owning 20% of a house I would prefer to liquidate at a discount in favor of having cash in my online trading account before the stock market rebounds sometime in 2009.
Can anyone provide me search terms or links to investors who buy this type of inherited real estate equity at a reasonable rate?
J.G. Wentworth advertises that they will buy your share. Be forewarned, the discount is steep. They will immediately go to court and order the property sold. At that point the judge replaces the executor and the judge hires the realty agent. The judge takes no time at all to lower the price.
Your 20% interest is worth 2% in the open market because the interest is tied up with 4 other people..
10/15/08 Real Estate vs. Stock Market 6 of 6 – Brewer Caldwell