Are you sitting on an undeveloped piece of land?
Have you or your parents been holding onto SW Florida property with no intention of ever using it? The time to sell it is now while the owners are alive and of sound mind. The property may not be worth a whole lot of money, assuming it’s vacant land not on gulf access canal, but the expense associated with trying to sell it after it has been left to heirs via a will, may likely eat into the value by far too much.
Florida is a probate state. Property left to an heir by will must be probated by the courts prior to any transfer of ownership taking place.
I’m currently working on a situation now where the market value is $6500 however the property was never probated after it was left to the heirs in the will. About $1500 in charges is now necessary to get the property through probate.
If you have vacant land in Cape Coral or Lehigh Acres that you never intend to use, and you’re getting along in years and plan to give the land to your children or others after your death, please do them a favor, and sell it now. You can always give them the cash after your death if you wish. They will appreciate it much more than hiring an attorney to probate the property before they can sell it.
Contact me. I can help!
As a Southwest Florida Real Estate Agent it’s my job to educate my clients and help them get exactly what they want and make sure their best interest are being considered in every detail of the purchase. This blog is all about educating you and empowering you with all the industry news, information, tips and things to consider before buying or selling your home. If you found this article interesting and know someone else that might benefit from it please feel free to share!
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