Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Family house up for auction
My family neglected their family home for years and now it is up for auction in a few days. The bank wants a hefty amount for the home and the home needs major major fixing. Homes in the area are going for 300k over the price the bank is asking for. The trust that is in place made it hard for them to collectively agree to do anything with this house. My name is not on the trust and with all the work that needs to be done and the mortgage, it doesnt look like a good investment. However, since homes are purchased all the time at an auction, I wanted to make sure there isnt anything I am missing. Any thoughts on this?