Did you just inherit a piece of Vacant Land? What do you do with it?
Well on thing you don't want to do with it is forget about it. If you don't keep up the taxes you will loose it. And if you don't live in the area you might loose it with out knowing it. The government will take after 3 years of delinquent taxes. When you don't pay the taxes they advertise it in the local paper and unless someone lets you know you could loose it with out knowing.
But let get to the real question!!
The first thing you need to do is get it evaluated by a knowledgeable real estate agent. Some one who know and does land sales. They will help you find out if it is buildable of just a piece of land that is useless and just eats up your tax money. If it is determined to be usable find out what the value is, but make sure it is a practical price and not just a price to get you to list the property with the agent you are working with. BECAUSE IT JUST WON'T SELL.
There are many piece of land on the market that has a price of more that 50% more than it's real value. If you follow these steps you can maximize you inheritance with out spending a lot of tax money every year and the down the road find out it is not worth what you have paid in taxes.
Thinking of SELLING in WESTCHESTER or PUTNAM COUNTY? GIVE THE BEST A CALL @ 845-590-5488!!!
Thomas Santore
Associate Broker
Coldwell Banker
845-590-5488
Visit my web sites at http://realestatesallhere.com and http://icansellyourland1.com
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