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Respected Contributor
hyacinth003
Posts: 4,997
Registered: ‎03-12-2010

Have property values gone down?

‎03-10-2012 02:40 AM

Along with his 3 brothers, my husband inherited his father's house after he passed away in September. The house is currently occupied by a renter, who was in place for about a year. My father-in-law was in assisted living.

Two brothers wanted to keep the house as rental property, and 2 wanted it sold. According to the Trust, without a majority, it has to be sold. My husband was one who wants it sold. He does not want rental property in another state.

He and his other brother who want it sold believe the others are stalling a sale. They wish to buy it, but have made no move to secure the loans. There is no real incentive for them to do so, as it is sitting as rental property, just the way they want it. It is not known if they think property values have gone down, so their buying price will be lower. My husband thinks that is what they are trying to do. He and his agreeing brother have told them they will move to put the estate in probate if this is not resolved very soon.

The property is in the state of Washington. Anyone knowledgeable in real estate to know about property values 6 months ago versus now?

Hyacinth {#emotions_dlg.confused1}

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