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Real Estate
Reply to "Inheriting house together with sibling...who wants to move in - WWYD?"
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[quote=Anonymous]I would sell, no question. I say this as someone who helps my sister and her kids financially on a regular basis. We have considered helping her buy a house, but ultimately decided against it because 1) she cannot afford the upkeep at this time, and 2) she has not proven herself to be financially responsible, so we fear that it would ultimately be like throwing money down the drain if the house is repossessed or if a lien is placed on it due to not paying property taxes, etc. If your sister cannot afford a mortgage, there is no way she can afford the taxes and upkeep on a $3 million dollar home -- that's just crazy. It is going to be a headache for you for years to come, if you go along with this arrangement. There is absolutely nothing to feel bad about, either. She will pocket $1.5 million which she can use to buy a house free and clear if she wants. [/quote]
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