Selling a home always has the potential to be difficult. You’ve built up memories in your property, and there is an emotional attachment to the house. However, when you are selling an inherited house, these emotional ties could be even stronger. You might inherit the home in which you grew up, and the idea of selling it could be very hard because of your memories. However, oftentimes selling the home is in your best interest.
One of the first and most important things you should do when you are selling your property is to contact a professional, such as a real estate attorney, to help you with the sale, as well as a tax adviser so you understand all of the tax implications associated with selling. You should check to see if there are any liens on the property as well, as this would affect your ability to sell it. If there are, you will have to clear those up before you attempt to sell.
Is now really the best time to sell? Whenever you are selling a property, whether you inherited it or not, you need to consider the state of the market in the local area. What are the prices of comparable homes in the area, and how much money will you need to spend in repairs before you can actually sell the property you inherited? If the home is in disrepair and the costs would be too great, it doesn’t mean that you can’t sell. However, you may be better served by trying to find cash house buyers or investors who want to buy the property. They will often buy the house in as-is condition without you having to make any repairs.
Those who find that the market is good enough that they could get a fair price for the property still need to be sure that they make it look as appealing as possible. In addition to the aforementioned major repairs, if any, think about the appeal of the home to modern buyers. Making sure the landscaping is in good shape and the house has been painted is important. Changing the flooring, upgrading the cabinetry, and similar repairs can help to make the home desirable, especially when compared with other homes on the market.
For many people, this is the most difficult part of selling an inherited home. They loved the person who lived there, and now that they’ve passed away, it is hard to remove their belongings because they feel so “right” in the home. However, in order to entice others to buy the property, they have to be able to see themselves living there. They will not be able to do that if you have furnishings and other items from your loved one still in the home.
Find a place to store the items that you can’t take into your home, give them away to other family members, or sell them. Then, have a professional cleaning crew go through the home even after you’ve cleaned it. This will ensure that it has a thorough and deep clean. With the painting and other repairs, and the removal of personal items, it will be much easier to sell the home.
After understanding the legal requirements of taking possession of the property, and becoming the rightful owner, you will find that the actual sale should proceed very similarly to that of any property you own. As always, working with the professionals makes the process much easier.
If are selling an inherited house we can help. We buy inherited houses in as-is condition. Give us a call or fill out the form and we’ll be happy to talk to you about how we can pay you cash for your inherited house.
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Recent flooding in the United States has caused a substantial amount of damage to homes. In Houston alone, they estimate that there may be upwards of 180,000 homes that have received flooding and water damage. If you are one of those who were affected, and you were thinking about selling your property, you may be
Water and flood damage, along with damage to the roof, can be very difficult and expensive to repair. Even when you have insurance policies in place, you might not have quite as much coverage as you had hoped. Let’s look at exactly what types of repairs you might need, and how your insurance policies may