What To Do With An Inherited House You Don't Want: Options for Selling Quickly and Hassle-Free
5/11/2023 Edit: ProPublica just dropped a bombshell report on the predatory practices of some of the “fair cash offer” investor companies: “The Ugly Truth Behind ‘We Buy Ugly Houses’”
Original article published March 17, 2023 below.
When you inherit a property that you don't need or want, it can be overwhelming to figure out what to do with it. However, you don't have to hold on to an inherited property that doesn't fit your lifestyle or goals. In this article, we'll explore the various options for selling an inherited property quickly and hassle-free. As an experienced real estate agent, I can help you navigate the process and connect you with the right professionals to address any concerns you may have.
Selling Options for Inherited Properties:
Sell the Property As-Is
If you want to sell the inherited property quickly and without making any repairs or renovations, selling it as-is can be a good option. In this case, you can price the property competitively and market it to buyers who are willing to take on a fixer-upper. As a real estate agent, I can help you by performing a thorough market analysis and find buyers who are interested in an as-is sale.
Sell the Property Remotely
If you live far away from the inherited property and don't want to travel to manage the sale, selling it remotely can be a viable option. You can hire a real estate agent (me!) who can handle the sale on your behalf and keep you updated on the process. Additionally, many parts of the home-selling process, including document signing and virtual tours, can be done online, making remote selling more accessible than ever.
Sell the Property Through a Trust
If the inherited property is held in a trust, you can sell it through the trust to avoid going through probate. In this case, the trust will own the property and the trustee can sell it without needing court approval. As a real estate agent, I can help you understand the process of selling an inherited property through a trust and connect you with the right professionals to navigate this option.
Sell the Property to a Family Member
If you have family members who are interested in the inherited property, you can sell it to them directly. This can be a quick and easy way to transfer ownership and keep the property within the family. However, it's important to understand the tax implications of selling the property to a family member and ensure that everyone is on the same page before proceeding.
Sell the Property to a Cash Home Buyer
If you need to sell the inherited property quickly, you can sell it to a cash home buyer. These buyers are often real estate investors who are looking for properties to buy and flip quickly. In this case, you can sell the property as-is and avoid the need for repairs, showings, and real estate commissions -- but be warned, these offers usually come at a MASSIVE discount compared to what I'm able to get my estate sellers on the open market.
5/11/2023 Edit: ProPublica just dropped a bombshell report on the predatory practices of some of the “fair cash offer” investor companies: “The Ugly Truth Behind ‘We Buy Ugly Houses’”
Selling an inherited property that you don't want can seem overwhelming, but there are many options available to make the process quick and hassle-free. As an experienced real estate agent, I can help you navigate the process and connect you with the right professionals to address any concerns you may have. Whether you want to sell the property as-is, remotely, through a trust, to a family member, or to a cash home buyer, I can help you find the right solution for your unique situation. Contact me today to learn more about how I can help you sell your inherited property.
Inherit a home? Start by finding out its trending value below!
