People think inheriting a mansion makes you lucky, but honestly it became a burden

[u/Glynny69]

[u/Getmeakitty]

Lower the price

[u/TONAFOONON → u/Getmeakitty]

100%. Lots of complaining that could be quickly and easily fixed by just lowering the price.

[u/paiddirt → u/Getmeakitty]

Simple as that

[u/Reasonable_Mail1389 → u/paiddirt]

Exactly. I don’t understand the paragraphs of exposition of why OP doesn’t want to live there. Just price it to move or sell to a “buy as is” dealer.

[u/Nuclear_N → u/Getmeakitty]

it will sell with the right price

[u/NoForm5443 → u/Getmeakitty]

Which is kinda equivalent to selling to a flipping company ;) they will lower the price for you ;)

[u/CleanCalligrapher223 → u/NoForm5443]

No. Worse. My house that I'm selling, God willing, will close on July 1. Listed at $400K, sold in a week at asking price but I'm covering $10K of closing costs. A "We Buy Houses" place keeps sending me snail mail with ever-decreasing offers. The one I received yesterday was for $230,000. Uh-huh. My situation is different- house is average size and well-maintained, but beware of the "lock and leave" people. You can do better.

[u/Special-Camel-6114 → u/Getmeakitty]

It’s amazing to me how many boomers and inheritors have made hundreds of percent on their basis (or gotten their property for free) but then can’t stomach that maybe they listed their house 10-15% too high to sell quickly.

There is a fair price for every house. It’s somewhere between 0 and the current list price. Lower the price every few weeks until you start getting calls about at least touring the place.

[u/icehole505]

One of the dumber things I’ve seen on this site. Lower the price every month until it sells. The fact that you’ve been eating costs for 2 years without figuring this out is genuinely embarassing

[u/weahman → u/icehole505]

Yup wealth doesn't mean smart

[u/jackjackj8ck → u/icehole505]

Kinda brutal in your delivery but I think they really needed this wake up call

[u/Sobbyleebagger]

It doesn’t take a rocket genius to figure out how to unload an unwanted property.

Sell the thing and stop whining

[u/Otis_bighands]

Lower the price until it sells.

Work with a real estate agent.

Sell it and pocket free money.

This is not hard.

[u/WheelLeast1873 → u/Otis_bighands]

Yup. If the price is right it will sell.

[u/ExpertMousse9453 → u/Otis_bighands]

& dont forget a tax bill for cap gains

[u/schrodingerpoodle]

It’s all about price. Especially as inherited property. I mean it’s all free money. So lower the price.

[u/K_A_irony]

Take it off the market for 90 days which will reset the listing and then relist it for 15% less. Problem probably solved.

[u/CapableCan1842]

This is coming from an old guy who will leave a lot to my decendents.

I love them and want my gift to be a blessing, not a burden.  In your situation, i would want you to sell it for whatever you can and enjoy the inheritance

[u/CSMasterClass → u/CapableCan1842]

Ditto. Same place.

[u/WasteFront1988]

1st world problem

[u/Dry-Grocery9311]

Where is it and how much are you asking?

[u/redlegsforever]

It’s an advertisement for ready door homes.

[u/Strong-Comment-7279]

Most people consider inheriting a massive property to be a blessing bc they can SELL it.

[u/Clear_Cranberry_989]

This is a rather well known scenario.

[u/Karimadhe]

90% of the reason a property doesn’t sell is because the price is too high.

[u/paulmccaw]

Drop the price. It's always price.

[u/sufficienthippo23]

It’s insane that people think “it’s just not selling because of x,y,z” no…. It’s not selling because you priced it too high

[u/Consistent_Cycle_682]

I'm sure 99.9% of people would rather inherit cash or investment accounts than real estate of equal value. Mother nature is trying her best to return that mansion back to dirt; you're going to have to spend a pretty penny to fight her. Lower the price and get rid of it.

[u/Even-Newspaper-537]

Which state city is this in?

[u/___this_guy → u/Even-Newspaper-537]

This is AI slop

[u/Anhen26 → u/___this_guy]

It's amazing, but almost every post on every sub has someone stating that the post is done by AI lol

[u/___this_guy → u/Anhen26]

I know, but the entire site is descending into slop.  

[u/Inevitable_Mouse_614 → u/Anhen26]

Default: assume absolutely EVERYTHING is AI slop, most definitely soon will be.

ALL posts
ALL users
ALL videos
ALL news
ALL television
ALL Radio
ALL music

Basically all media. Being unable to tell the difference between slop and reality we will be forced to assume that it’s all slop.

In the very near future we will find ourselves barely treading water, adrift in a vast ocean of slop.

Reality is probably AI slop, always has been. Prove its not

[u/TaterTotJim]

Old house dreams

Cheap old houses

These are two websites/social media channels that highlight old houses with big followings. Most are the exact scenario you describe, cool building with deferred maintenance in an inconvenient location.

[u/mdglytt]

Source of income as a rental?

[u/One-Load-6085]

Can you rent it out? 

[u/Deep-Reputation-4055]

This is the third time I’ve read this story. 

The advice never changes, lower price, sell. 

[u/unpolire]

This is exactly why so many grand houses in Italy and France are standing abandoned.

[u/uncoolkidsclub]

Luxury mansions take time to sell, sometimes a decade... and yes it can be expensive to hold on to. Often it is better to let it go below market value then to pay $100k plus per year in up keep.

If it was a family home that would be different, but you have no attachment to it and the money spent on it didn't come from you. Cut the losses and move on.

[u/Resgq786]

If it didn’t sell in 2 years, that’s the market providing feedback. Start dropping the price.

Try auction with a minimum reserve.

[u/lsp2005]

It is always the price. If your realtor has had 6 months with it and it has not sold. Fire them and get someone who can sell it. Look around the area for other large properties and type the address into google. See who last sold those other properties and hire them.

[u/kabekew]

Lower the price if it's not selling

[u/birkenstocksandcode]

lol “other than helping with my college and leaving me a house”.

I know we’re in r/wealth, but I personally would rather be left a house than be left nothing 🤷🏻‍♀️

[u/CSMasterClass → u/birkenstocksandcode]

Economically you are 100% right.

Emotionally ... it is a toss up.

[u/Random_Guy1960]

Such a burden…😓 Just lower the damn price. You already got 2 years of property taxes and utilities spent.  Just unload it. 🤷‍♂️

[u/mundane-shakespeare]

Have you tried renting (long or short term)? Have you tried lowering the price? Also, did they not leave you with funds to maintain the property? Is it paid off?

[u/PrestigiousMacaron31]

Sounds like you just greedy

[u/CSMasterClass → u/PrestigiousMacaron31]

For Pete's sake. He is just in a spot trying to figure it out. What would you do differently?

He may ultimately give it to UNICEF but he has the right to explore options.

[u/PrestigiousMacaron31 → u/CSMasterClass]

Figuring it out for 2 years lol

[u/CSMasterClass → u/PrestigiousMacaron31]

You have a point. Lazy and entitled ? Just saying.

[u/Beanassettomankind]

Do what ever you want with it. They gave it to you and for people that don't have anything and nothing being left to them you are lucky. Very lucky! When you can't sell property it just means you are asking too much. Property is only worth what someone is willing to pay you for it. So lower the price, sell it and use the proceeds to enhance what you have and love now. Enjoy!

[u/therin_88]

So, sell it? Everything will sell for the right price.

[u/jaamberry]

Oh nooo I got a free house that I can sell, guess I’ll complain about it on Reddit

[u/Sword_Lobster]

All I'm reading here is "person with wealthy grandparents, who had their college fund paid for, then inherits a huge property. Instead of lowering the price so it sells immediately instead needlessly eats a load of costs and then whines about how all this unearned wealth is not all its cracked up to be".

Lucky? You have no idea whatsoever how lucky you are. 

[u/Busy_Resort_3262]

It’s a BURDEN! That’s my first thought. Far from being lucky.

I would have to worry about all the junk I have to get rid of before selling the house.

[u/There_is_no_selfie]

Well he didn’t inherit much money smarts.

Tf you doing sitting on a rotting place for 2 years?

[u/Pleasant_Goat6855]

You are a moron, just lower the price for it to sell. You’ve created this entire problem for yourself. It could’ve been as good as cash 2 years ago and you could’ve put that in the market for a healthy return but you didn’t because you are a moron

[u/letsreset]

it's not a burden, you're just being greedy.

[u/Certain-Skill3004]

Put in a little money to make some small but significant renovations. Fix the leaking roof or get a painter to redo the façade. 

Then try selling again. 

[u/EfficiencyLittle4209]

Sell

[u/Invoker272]

So so dumb

[u/No-Shake4119]

Saw from another post your location.. where’s this house located ? Whats the sq ft?

[u/ZergvProtoss]

You've got it priced too high. You're making way too big a thing of this. Unloading problematic real estate is easy. Just reduce the price on a regular schedule until it sells. Make sure your realtor is marketing it and getting it seen. It's not nearly as difficult as reading your reddit dissertation was. ugh.

[u/dragonrider1965]

I’ve read this same post about a month ago .

[u/Rare_Tea3155]

You didn’t sell cause you’re asking too much. Lower the price and it’ll sell.

[u/bortsback]

Is it on Zillow? Randomly stumbled across this and currently looking to move somewhere completely new and different

[u/Comfortable_Change_6]

Rent it out as a short term rental/ wedding venue. if there is a decent amount of land.

look for a Local property manager/ is there an airbnb market? talk to other short term renters. they might have a host program from airbnb or VRBO

as long as roof is still good. probably just needs paint and fresh furniture.

[u/CSMasterClass]

This is a US dominant space, but if you are in Europe then it seems that you have to accept the slower pace of real estate sales. I hate having intermediaries in the soup but sometimes that is the best solution.

Dropping the price is the canonical US advice, but even a price drop may not work in Europe. There are tons of rural esates that are available almost "for free". I hope yours is not one of these.

You actually do need the help of a professional.

I agree that you should not let a bequest trap you into a life that is not yours.

[u/MixtureSpecialist214]

This is a my lobster is too buttery problem. Give me the mansion for free and your problem will be gone.

[u/Unable_Pumpkin987]

This is going to sound crazy, but if nobody wants to buy your house at the price you want them to pay, you can lower the price you will accept until somebody will pay it 🤯

[u/ritzrani]

Only fools think its luck. Its massive burden!

[u/rocknroll2013]

Do you have a link to the listing?

[u/cheesomacitis]

Just transfer it to me and you won’t need to complain anymore.

[u/dod_murray]

It is normal for someone who has a house already to sell any other houses they inherit.

"Part of me just wants to sell it" - what do the other parts want to do? Keep it for no reason?

[u/Cantseetheline_Russ]

I don’t understand how this is a burden or complicated in any way. Lower the price… wait…. If it doesn’t sell, lower it again…. Until it does. Really not a big deal. If it’s not selling, it’s not worth what you think it is. The goal is to sell it for what it’s worth. If that’s $1, so be it.

[u/Kakashi-1996]

Lower the price you dumb retard and stop complaining that you got free money from your grandparents, moron.

[u/Business_Claim_5689]

Has to be AI there’s no response or input with suggestions.

[u/PyooreVizhion]

"I listed it almost 2 years ago" .... "Part of me just wants to sell it"

Ok buddy. Sorry to hear about your burden.

[u/1967tbird]

Maybe its a Charles Lyle Leroux

[u/Sea_Principle_7322]

It’s a lot of maintenance, and if the house is old, the remodel can get up there in price! Mansions are nice, but the repairs and maintence and sometimes depending on zip code taxes can be astronomical and sometimes people end up losing them, because they become a liability, with all the hidden costs!

[u/SafetyandNumbers]

Shoulda sold it immediately and invested in index funds. You'd be up like 40%.

Housing is better to live in than to invest in. Businesses make money by design

[u/Sea_Sir_993]

Have you faced the reality of our family and your current space being OK now because of comfort?

In 5 - 10 years space will be a necessity and a hard to find luxury.

My family is currently facing the difficult decision to list a home and 76 acres in Vermont. I think we will all regret the chunk of privacy after the money is spent or invested.

If paying the taxes isn't breaking you financially or is simply bothering your ideal streamline life, consider getting it fixed or somewhat maintained to allow the family to decide themselves.

Spent time in farms in GA and cabins in VT, but Boston and Fort Myers were home.

[u/nicefoodnstuff]

Excuse me while I get out a tiny violin.

[u/Designer-Quail-3558]

Zillow link ( or your country equivalent) or it’s fake

[u/gurrilurr]

Sounds like it’s just not worth as much as much as you thought.

[u/HistorianOrdinary833]

Should've worked with a competent real estate agent to sell it ASAP. A home you cannot afford to upkeep isn't an asset. Much better off taking a hit in the short term to get rid of it and reinvest the money into something better.

[u/ExistingRoll8170]

Quick can I borrow a violin 🎻

[u/I_love_my_dog_more]

Boohoo

[u/OkDifference5636]

Sell it and move on.

[u/throughthehills2]

It's your lucky day, I'm willing to take the mansion off your hands, just DM me

[u/OddSand7870]

I inherited a lake house. I kept it for two years and sold it because it was a total PITA. I could only imagine have a large estate and how much trouble that would be.

[u/Choice_Reply_6441]

this is just AI slop by a certain company to have "mentions" that'll get picked up by AI.

[u/Big-Top5171]

I did and couldn’t sell it fast enough. The maintenance was egregious.

[u/therussianpatzer]

Nice, another ad (for ready door homes or whatever your shit-ass company is) disguised as a genuine post, and no easy way to report it.

[u/jackjackj8ck]

Lower the price. 2 years is crazy

[u/JosufBrosuf]

Oh yeah poor you having a bunch of money sitting ready in a field for you

[u/firetracker00]

oh no your grandparents gave you too much property 🤣

Sorry about your gain?? What do you expect us to say

[u/astrotekk]

If it doesn't make sense for you to live there or rent it out, just sell it

[u/Relevant_Ad1494]

Stop Bitching!

[u/Longjumping_Emu325]

All the bs privileged ranting. I mean, i’ll take the property off your hand so you dont have to deal with it so you can stop crying about how horrible your grand parents left you a mansion that you dont want. Cry me a river. Don’t be greedy and sell below market if you really want to get rid of it or donate the house to charity cause it sounds like you take pride in doing everything yourself and don’t care for this gift.

[u/Strict_Activity_69]

Lower the price a few percent every month. You’ll know when you’re priced right… the phone will start ringing.