How to Sell an Inherited Property in Modesto CA
Did you inherit a house in Modesto or anywhere in the Central Valley region of California? Are you planning to keep the inherited property or are you planning to sell it as soon as possible to get what you can out of it? If you are looking to sell an inherited property in Modesto CA, we’ve got you covered with tips and information that you should find helpful.
Blessing or Burden?
It can be both a blessing and a burden to inherit property from a lost loved one. It is a huge financial asset, but it can also be overwhelming when you don’t know exactly what to do with the house. Of course, you can always keep it in the family. Perhaps you decide to move in yourself or let another family member live there. Or, you can hold onto it as a rental income property. Lastly, another option may simply be to sell it.
What you choose to do with the inherited property may depend on a few factors. First, is the title completely in your name or are you sharing it with other family members? Shared ownership can be much more complicated. It may be best to sell and split any proceeds accordingly. If the ownership is fully transferred to you, then you have more options to consider.
Another very important factor is the financial state of the property. Is there still a mortgage loan on the house and can you afford to keep up with payments (even if you rent it out and collect monthly income)? You also have to consider other ongoing homeownership expenses like property taxes, insurance, utilities, general upkeep and HOA dues (if applicable).
Lastly, you have to consider the condition of the house itself. If it is run-down and in need of significant repairs or remodeling, you may find yourself putting a lot more money in to make it livable for you or someone else.
How to Sell an Inherited Property
If you decide not to keep the property for any reason, you will want to sell it as soon as you can to ensure the best returns. You can hire a real estate agent and you may look for someone who has good experience dealing with probate properties. Again, the condition of the house may also impact your decision to sell an inherited property on the open market. You may have to put some time and money into it in order to get it “ready” for resale. Otherwise, it may be harder to find buyers and get worthwhile offers.
Ultimately, you may also want to consider a fast cash sale of your Modesto house. This is often a convenient and simple solution for inherited property owners who don’t have the time and money to deal with a house. You may not be in the same area or the house is more of a financial burden than you can handle. You can sell quickly to a cash real estate investor or a “we buy houses Modesto” company like PropertyLark. We buy many inherited properties in Modesto and the surrounding Central Valley communities. We can get a deal done fast, so you have cash in your hand and are free from any other homeownership responsibilities.
To learn more about our home buying process and to get a fair and fast cash offer with no obligation, please contact PropertyLark today.