The Fastest Way to Sell Inherited Property
If you inherited a house, you may not know exactly what to do with it. In most cases, you have a few likely options:
- Move into it
- Rent it out
- Sell it
These are all very viable solutions when given an inherited property. The best option may depend on a variety of factors, including the condition of the house and any other homeownership expenses associated with it. For example, there may still be a mortgage loan to pay off along with necessary costs like property taxes, insurance, utilities, HOA dues and general upkeep.
What if the Property Needs Repairs?
If the property isn’t in great condition, you may be faced with investing more money into it. There may be repairs and upgrades needed before it is ready to move into, rent our or sell on the open market. This can potentially be more money out of your pocket that you may or may not have available.
What if We Need to Sell the House Quickly?
Lastly, your ideal solution may depend on the ownership situation. Many houses are left to multiple heirs, with the intention of splitting it up as a valuable financial asset. This can create some awkwardness within the family. One person may want to move in. Others may want to sell it or hold onto it as a rental. Oftentimes, the most logical solution is to sell it immediately and divide the proceeds equally.
If selling the house is the option that makes the most sense for you and your family, then you have more options to consider. You can hire a Realtor® and sell the property that way, or you could even go “For Sale By Owner” (FSBO) and see what kind of offers you can get. These home selling solutions might net you a little more money when all is said and done, but they will take time. Be prepared for at least a few months of getting the house ready, hosting showings and waiting for the right offer. You may also have to invest some time and money in repairs if you want to get top dollar for the home. Run-down properties tend to sit on the market longer and attract weaker purchase offers.
Your Fastest Home Selling Option
If you truly want to sell the house as quickly as possible to avoid further costs and get the cash in hand for this valuable financial asset, you should pursue a cash home sale. Real estate investors in your area are looking for houses like your inherited property. They are willing to make fair cash offers and complete the closing in an accelerated timeline. It may only take a week or two to finalize a cash real estate transaction. Any remaining mortgages or fees will be paid off right away and all the proceeds can be wired directly to your bank account within a matter of days—rather than the months it might take to sell on the open market.
Another benefit of a fast cash home sale is that it shouldn’t cost you much out of pocket—if anything. Most cash real estate investors will cover any closing costs and they will buy your property in as-is condition. You don’t have to worry about making repairs or upgrades before it’s ready to sell. Plus, you will reduce the amount of any ongoing homeownership costs like mortgage payments, insurance, property taxes, etc.
A cash home sale is hands-down the fastest and easiest way to sell unwanted inherited property. PropertyLark is here to help. Simply fill out the contact form to the right. Tell us a little about you and your house, and we will get back to you within 24 hours with a fair cash offer. If you accept, we can close in as soon as seven business days or you can provide us with a specific closing/move-out date if you wish to have more time.