Inherited A House, What’s The Best Way To Sell?
Contrary to popular belief, inheriting a house in Kansas City can be a financial disaster if you don’t manage the inheritance correctly. Many beneficiaries have come to the sad realization that their inherited property is, in fact, a complicated and emotionally taxing burden.
Firstly, for many of these individuals the thought of selling the home that has been in the family for years is stressful and emotionally trying. But holding on to an inherited house means having to deal with various costs associated with repairs, maintenance, inspections, inheritance taxes, mortgage, and more – which can add up to thousands of dollars.
Most of the beneficiaries don’t have the money required pay for these unforeseen costs. Simply put, beneficiaries of homes are caught between a rock and a hard place.
If you’re one of them, you need to know that selling your inherited property to an investor could be your best decision. If for any reason you don’t have the ability to manage the financial obligation of the home then your best route is to get in touch with someone that will buy it from you. It’s easier then you think plus there’s no obligation to move forward if you decide to keep it.
The Best Way to Sell an Inherited Property
If you want to dispose of your inherited house fast for cash, and without having to make any repairs, your best bet is to sell to a reputable real estate investor. Depending on how much work the house needs, you can even make as much as you would by selling your home the traditional way.
By choosing the right home buyer you won’t have to deal with repairing, prepping and staging the house for sale, waiting for the right buyer to come along, paying agent commissions and closing costs, taxes, having people walking through the property while it’s on the market, and etc.
Risks of Owning an Inherited Property
Owning a home can be a real burden, especially when you factor in costs, such as property taxes, home insurance, mortgage, utilities, yard maintenance, repairs and inspections. Even if you decide to rent out the home, you’ll still be faced with a huge amount of duties and responsibilities that you may not have the time or energy to deal with. These include dealing with pesky tenants, paying off any outstanding mortgage lien, paying rental property insurance, maintaining the property and paying taxes.
If you leave your house to deteriorate then you should expect it to decline in value every year. If you wait too long then the only value left will be the land. You’ve been given an opportunity for financial benefit. That’s why you should seriously consider selling your inherited house to a local real estate investor.
Sell To an Investor – Prevent Out Of Pocket Expenses and Close Faster
Working with a good real estate investor can significantly reduce your closing time and your out of pocket expenses. Unlike first time home buyers, investors can offer flexible solutions to solve your real estate needs. We can do an all cash deal, flexible closing dates that allow you to have a garage sale or donate items to the church. We can even do subject 2 deals and owner financed deals.
They will enable you to dispose of your inherited house as quickly as possible with the least amount of fuss possible. You won’t have to deal with the fickle emotions of prospective buyers trying to envision their new home, or expenses like real estate agents’ commissions, property taxes, mortgages, upkeep, and etc., allowing you to put more money into your pocket.
A real estate investor who is knowledgeable about inheritance and probate can help you transfer title without paying huge attorneys and court costs, allowing you to sell fast, as-is with no carrying costs or repairs. This will save you a lot of time, hassles and money and you’ll also be able to free yourself from the stress.