Inheriting the home of a deceased loved one can bring about a whole host of issues you’re not prepared for. Depending on your circumstances, and the home’s location, size and condition, you may want to consider keeping it and living there yourself. Or maybe not. Home ownership is a lot of work and you may or may not be interested in owning at the present time.
The home you just inherited may be an older home in an older neighborhood. It may have been vacant for a while. It may need a LOT of work. If you love the neighborhood and the home, then great! It’s a no brainer. Just move in and fix it up as you live there. If inhabiting your inherited home does not interest you, what about finding a tenant and renting it? Sure, that’s a great idea if you don’t mind being a landlord and dealing with all the hassles that go with that, such as bad tenants and unexpected repairs.
If living in your inherited home and renting it out don’t sound like good options, then the best alternative is to just fix it up and sell it yourself. Get started, because there is a lot to do, such as new paint, new carpet, a fence, a new roof, or all the other repairs that must be done in order to get your inherited home ready for sale.
If none of these three options (moving in, renting, or making repairs then selling) we’ve covered sound appealing, there is a fourth option. You can sell your inherited home to home investment company like SellMyHomeToday.com. This route might even be the most profitable option when weighed against the time and hassles you’ll face prior to putting your house on the market.
Home Investment Companies…
- buy houses quickly, usually with cash offers.
- purchase houses “as is”, meaning you’ll save the need to have accessible cash reserves for renovations, such as paint, flooring and carpeting.
- close the sale fast because there’s no financing involved in the sale of the home. Also, there’s no need for appraisals and inspections. It’s not uncommon to close the deal in a week’s time.
If You’re Going to Sell to a Home Investment Company, Remember the Following…
- While the final sale price of your inherited home will likely be less than what you would get going through traditional real estate channels, the savings in time, effort, and real estate commissions more than make up for this. Depending on the market and the home’s location, you could spend a year or more trying to sell your inherited home the traditional way—and still not get the sales price you want! By selling to a home investor, you will have cash in hand that you can turn around and invest in something else that may have a better rate of return.
- While you might be in a hurry to sell a home, conduct this due diligence first―get references. But once you get them, actually call them. Many people think getting references is proof enough that you’re dealing with a trustworthy company. But having an actual conversation with a current or former customer is well worth the time. If nothing else, you’ll have provided yourself some peace of mind.
If you’ve inherited a home and are looking to sell it, call (972) 643-8320 and talk to the licensed real estate experts at SellMyHomeToday.com. They’ll be happy to address concerns and questions you might have about working with a home investment company.