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Your Answer:

Repairing the property will be from the money that you inherit along with your share of the home.

If the estate were to fix up the home with estate funds, then the value might be increased. That would mean, however, that you would pay more to your siblings to purchase their interests. So it might not make much difference whether you buy their interest now and use your inherited money to fix the property or work with your siblings to have the estate fix the property and then pay them a (likely) larger portion of your inherited cash to purchase their interests.

As for the value of the property - a lender will generally Loan about 80% of the appraised value (so the appraisals are actually relevant as far as giving you an idea of what a lender my give you on the property).

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Normally, "as is" language would mean that you take the property short of all improvements that are needed and that you would pay for the sewer hook up yourself.

That may be something you can work out with your siblings, but again, if the trust pays for that expense, you may end up giving your siblings a larger purchase price. Maybe not, but that's just up to what you can negotiate. There certainly is no prohibition for the trust paying that expense (so long as the trust authorizes the trustee to expend trust assets in maintenance and improvement of other property of the trust for the purpose of administering the trust, which almost all trusts do allow).

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With only $30,000 in savings, it probably would be better to keep more cash (to have some liquidity) and use a loan against the Florida property to fix it for rental (assuming at that point that you would still have an acceptable amount of equity and low enough payment that rental of that property would make economic sense.

Plus, with the low interest and cash-flowing rental you already have, paying off the loan doesn't help much.

If you need additional clarification, please do let me know. And, again, I DO NOT receive credit for my work until you rate my answer as "OK service" or higher. Bonuses are always appreciated.

If you later open a new question and would like my assistance, please begin the question with "To TMcJD...." This will ensure that only I answer the question.

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