My brother and I inherited a house on 1 acre of property in Ohio. My uncle has just listed for sale the adjacent 25 acres. Should we bundle our property to his or try to sell independently? My uncle can be stubborn and may prove to be an obstacle to selling, as he awaits a "worthwhile" offer. However, if we sell on our own, we may lose out on a developer's offer. And at what point in the process can we legally set how proceeds will be divided between me and my brother, and/ or my uncle?
2006-11-01 02:28:15 · 2 answers · asked by JLo 1 in Business & Finance ➔ Renting & Real Estate
You should do what the situation calls for. If you get an offer to purchase both parcels then do it. Just remember though when people purchase multiple acres they want a discount per acre; you would probably get a higher price on your own. If a developer comes along and wants to buy acreage then you definetely should sell with your uncle.
2006-11-01 10:34:12 · answer #1 · answered by tianaramal 4 · 0⤊ 0⤋
You can't unless you draw up a binding contract between all parties and have it signed by all. Just sell yours as you both wish.He has a right to be stubborn if he wishes.
2006-11-01 10:41:08 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋