Estate and Family Matters
Vacant Inherited Home with No Funds to Maintain or Improve
The Seller's Challenge:
The three co-owners of this home inherited it from a family member several years ago. It sat vacant because none of the heirs had the money to bring the home to a saleable or rentable condition. Because no one stepped forward to take the lead in making a decision, the home sat and slowly deteriorated.
The Phoenix Solution:
After one of the co-owners made a brief call to us, we brought all three owners together to make a joint decision about the home. We crafted an all-cash offer that allowed the sellers to sell the home as-is – avoiding the need to arrange special financing and hire contractors to bring the home to a marketable condition. Our offer immediately cleared all of the Multnomah County tax liabilities and gave each of the sellers a substantial amount of equity.
The Seller's Outcome:
The sellers were finally given the solution that they so badly needed. What was once a depreciating physical asset is now cash invested more wisely by each seller into opportunities that are without any of the headaches of a fixer home.
"The overall process from my first point of contact to our final step was almost flawless. The Phoenix team was informative, clear, and supportive during the necessary steps. While our sale was a tough one, of our Grandmother's home in which we grew up, we knew it was in good hands. I have already recommended the Phoenix team to friends to ease the estate process. I truly believe "our Nana's" home has been given something our family wouldn't have been able to. The upgrades have already started! I’ve enjoyed my drive bys to see all the great changes. We can't wait to see the final changes!"