A very popular item that is inherited and frequently unwanted is real estate property. When family members or close friends pass on they will their property holdings to their next of kin or people who meant a lot to them. This leaves you the recipient responsible for property upkeep possible landlord duties property taxes and possible homeowners or property owners association fees. What now? You Might Need To Do A Probate First of all the property will most likely have to go through a probate process depending on how it is currently deeded. Check into the local and state laws regarding the inherited property. If you have already completed probate you may have to do an additional probate in the county or state the property is located especially if it differs from where you live in order to have full legal rights to the property. For more information regarding these laws contact Fresh Start Home Sales at 678-337-1165 to discuss potential probate for your unwanted inherited property in Atlanta Georgia. You Could Rent It For A Profit If you inherit a single-family or multi-family residential home and you dont want to live there consider renting out the property. This could be a nice addition to your bottom line. You might have to make a few repairs or upgrades to make it marketable but over a short amount of time it will be a really good investment since you didnt have to make a large purchase to have this extra income stream. You might have inherited this home or multi-family property with renters in place; even better! This will save you the trouble of fixing it up and finding tenants. If you inherit commercial property and you dont own a business or dont plan on starting a business you could also rent this property out! There are plenty of business owners in Atlanta looking for a new place to run their business especially if the property is in a prime location with plenty of traffic. These properties tend to have a pretty nice return. Of course being a landlord isnt everyones cup of tea. There is a lot of responsibility that falls on the landlords shoulders; broken major appliances roof repairs cracking driveways potential structural issues annual taxes homeowner or property owners association fees finding new tenants the list goes on. You Could Sell The Property If you do not want to live in or occupy the property in any way then selling would be another option of what to do with your unwanted inherited property. Please call us at 678-337-1165 to discuss the market value of the property and the possible options of selling your unwanted inherited property. Do a little research to see what similar properties to yours are selling for before calling any real estate buyer or real estate agent. Get a good idea of what fair market value is that way youre not shocked when you hear the price. Keep in mind cash buyers with quick closings will probably offer you a bit less than average market value because they save you a lot of real estate fees and commissions in the long run and will often pay for the closing costs. You Could Give The Property Away Since you didnt buy it and you dont want it you could give the property to a charity or the municipality in which it lies. Contact the future recipient for their donation process. You could also give the property to one of your family members or friends or children. You may still have to go through probate locally in order to take full ownership to donate or give the property as a gift. Give Fresh Start Home Sales a call at 678-337-1165 or send us a message to discuss what to do with your unwanted inherited property. The post What To Do With Your Unwanted Inherited Property In Atlanta appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales https://www.freshstarthomesales.com/what-to-do-with-your-unwanted-inherited-property-in-atlanta/