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23 April 2013

Inherited house but have to buy out brother - options?

Sadly my mum died but has left her house to my brother and myself. I can give him 75k to have the house (which is "worth" 170k). We have an empty property with an outstanding mortgage of 15k which we can either rent out or sell and another which we intend to rent out as we have prospective tennants but own 80k and are locked in to residential mortgage for 12 more months. The obvious answer is sell the empty property but that may take time so I was wondering what options may be available?

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