Understand the problem before choosing the solution.
When a house becomes difficult to manage, the natural reaction is to look for the fastest way out. A better first step is to identify the facts that affect your choices.
For a Baltimore property, that may include ownership, title, occupancy, taxes, liens, condition, notices, insurance, mortgage balance, estate documents or the property location.
Official rules can vary by property, jurisdiction and circumstances. Use this page as a starting point and verify important legal, tax, title and safety questions with the appropriate professional or government office.
Questions to answer
- Estimate after-repair value — determine what applies before you commit to a strategy.
- Estimate repairs — determine what applies before you commit to a strategy.
- Consider transaction costs — determine what applies before you commit to a strategy.
- Consider holding time — determine what applies before you commit to a strategy.
- Compare the net outcome — determine what applies before you commit to a strategy.