Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 7 days ago, 11/24/2024

User Stats

5
Posts
0
Votes
David Georgeson
0
Votes |
5
Posts

Buying a property in an Estate please provide me with your thoughts and concerns.

David Georgeson
Posted

I am looking at purchasing a house that my realtor says is part of an estate.  I generally know what that means but I don't know if there are any potential cons with this situation.  

The property is off a "main road" that goes through town and it is not a city owned street.  There are 4 to 5 houses on this private drive way which is paved like a street but is not maintained by the city and most if not all of these houses belong to family members in the estate.

I have to concerns about buying this property and please fill me in on your thoughts and opinions.  

1.  I might potentially purchase this house to be an investment property and rent it out.  It has me concerned of what the other family members in this estate will think or do if they know I am looking at it as an investment.

2. I dont believe there is any kind of HOA or ruling organization for these group of houses but it has me concerned that if one day they all decide they want to repave the driveway or add lighting or something along those lines, they would try and make everyone chip in and pay their fair share. Im affraid if they hypethetically want to make an inprovement I dont agree with, could they potentially put a lean on my house if I dont pay in to their projects?

Thanks,  Appreciate all the feedback.

Loading replies...