| (MO)
I'd like to sell a house I inherited by a beneficiary deed. In regard to taxes....would it be better to sell the property immediately or keep it for a year or so? I prefer not to rent it, due to not wanting to be on call for maintenance and repair work.
Neighbors have shown an interest in buying the house, but they have told me they cannot get a loan as they declared bankruptcy 18 mo. ago. on their credit cards in another state (AZ) They are willing to do repairs for a down payment. They have been good neighbors and I appreciate their honesty. Both have good jobs now, but they do not know how long before the bankruptcy would no longer cloud their credit and they could apply to get a mortgage.
I had already considered selling the property with a contract for deed proposal, with a balloon payment for the balance in three years, but thought I might be able to do so with at least a 5% down payment.
Advice please. | 
06-13-2001, 02:29 AM
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