Many parents or relatives choose to “will” their property to their children or family members equally, leaving everyone to decide how to divide everything up. If part of that inheritance is the family home or other real estate, the best way to divide the asset is to sell it and split up the cash. But selling inheritance property presents special logistical, practical and emotional challenges. Contacting us immediately for professional help as having a plan will create the best outcome for everyone involved.
We can help you turn your inherited property into cash as quickly and as painless as possible.
Before you sell property you inherit, the estate may need to go through probate. Once the estate goes through probate, the court gives the “executor of the will” the authority to act to distribute the estate’s assets and settle the estate’s debts.
How Do You Sell Your Inherited Property?
The first advice that we would give you is we would assess the condition of the property and the amount of personal items that are still in the home. We would also try to identify if it would make more sense for an investor to buy the home fast for cash or whether it would be best to sell the home to an owner who would occupy it. A home that belonged to an elderly parent or other relative may need repairs and updating before you can put it on the market for an owner occupant to purchase it. You’ll also need to clean out your relative’s belongings. Most traditional home buyers are not willing to purchase a home, and then put a lot of money and work into it.
If the property has been in your family for 30, 40, 50 years and maybe an elderly parent or relative just wasn’t keeping up with the items. Maybe it needed a new roof 5 years ago, and needed new plumbing and a lot of new work, these sort of properties are better fit to sell to investors because they can buy them in as is condition and you can sell it without having to worry about fixing anything. Typically when you sell to an investor they are going to have to buy it at a lower price than an owner occupant because an investor will have to buy it, fix it up, and then sell it to an owner occupant or rent it to a tenant. So depending on what the house’s situation is, helps you make the choice on which route is best to go.
Here are some things to consider when choosing the best option to sell your inherited property:
- Do you have the skills/money to do the repairs and cleaning needed to sell it through traditional means?
- If you have the skills/money, are you willing to spend the money and do all that work or would you rather go out and have fun on the weekends?
- Are you juggling kids, two jobs, and don’t have the time to take on one more thing and just want the house sold quickly?
Don’t forget that while you are trying to figure out what to do with the property, the bills will continue to come in.
Things to Keep Track of Before Selling an Inherited Property:
- Property Taxes
- Grass Cutting
- Property insurance (more costly for a vacant house)
- Risk of vandalism/theft
Working with FairOfferBuyers.com will save you a ton of pain and work needed to sell your inherited property. We make the entire process so simple, easy, and a win-win for everyone involved.
Selling an inherited property can be costly, time consuming, and emotionally stressful but it doesn’t have to be. If you need to sell an inherited property quickly, don’t waste time with tire kickers who really have no interest in buying. Don’t worry about the expense of making repairs for it to sell. We will buy your inherited property ‘AS IS’ so you won’t have to spend any of your time and money on repairs. If you need to sell your inherited property quickly, with no out of pocket cost to you, click here for a Fair Offer Now.