Selling An Inherited Home Quickly
A dilemma that faces every person who inherits a house is this: “What do I do now?” After all, a home is a potential liability. Maintaining a home, especially an extra home, is not cheap. As the saying goes, a house can be a “money pit.”
It’s almost always better to sell that inherited home quickly. That’s also easier said than done.
Sell To A Home Buying Company
A company that buys homes buys from owners who want to sell. People who inherit homes are often eager to use those companies because they want cash quickly. They aren’t interested in waiting for months to sell the home via a more normal real estate company.
There are several details that can inhibit a more normal home sale. For one thing, a potential buyer can always change his or her mind and decide not to buy. By using a home buying company that pays cash, they give a seller what they think the home is worth. That saves a seller a lot of time.
The Condition Of The Home
Sometimes, people inherit homes that are in pristine condition. Although that does happen, it is also true that many people inherit homes that are not in ideal condition. Many homes have issues that need to be fixed first. This means draining the finances of the new owner. Home buying companies aren’t particular about the condition of the home. They’ll pay you what they think the home is worth. It’s cash on the proverbial barrel-head.
If a home and/or its property need extensive renovations, the home buying company will deduct the price of the repairs from the price that they offer for the home. This means that the sellers don’t have to deal with doing the renovations themselves.
Why Use Is A Home Buying Company?
A seller is free to take cash and move on when they use a home buying company. The seller has usually inherited the home through the loss of a loved one. Often, they want to make a quick sale. They don’t want to have to face the legal issues of handling that newly inherited home. They don’t want to have to deal with difficult buyers. They don’t want the proverbial red tape of handling an estate either. They just want to sell it, pocket the cash, and get on with their lives.
Home Buying Companies Give You Cash Fast
When an owner who just inherited the house needs money, they don’t want to wait for a sale. The home usually isn’t much use to them, and they could use the money anyway.
A home buying company will put cash into a seller’s bank account in as little as 48 hours. That’s how long it usually takes to survey a home and get an idea of what it’s worth. If the customer accepts the offer, the home buying company will do the rest. This takes a lot of stress away from the seller.
Using A Home Buying Company Reduces Stress
People often insist on selling an inherited home on the open market because they’re sure they’ll get a better price. Under those circumstances, there are things to consider. Real estate agents will take out their commissions. A potential buyer might change his or her mind even at the last minute, and that would mean that whoever is selling the home has to start over, often from scratch.
A sale to a cash buyer such as a home buying company is far less stressful. The home buying company isn’t going to change its mind. The money goes into the seller’s bank account right away. It’s far less complicated. There’s less “red tape” to deal with.
There’s No Need To Worry About Insurance Or Running Costs With A Home Buying Company
When someone inherits a home, they become the legal owner. All of the responsibility suddenly falls to them. In many cases, they already have a home. This means that they now have two homes to deal with. That puts worry on their minds. Every time there’s a storm, they must worry about whether or not the home they’re not at is okay. There’s the ongoing concern about vandals and robbers breaking in. The grass has to be cut and watered. The home has to be checked regularly to make sure it’s okay.
In addition to those worries, there are ongoing insurance issues. A person who inherits a home is responsible for everything that’s in it. Taxes must be paid. Running costs like utility bills for watering that lawn and running the air conditioning or heater must be considered. Even though nobody lives there, there’s still the cost of the upkeep to think about.
Repairs
Most people who inherit a house are anxious to transfer that asset into quick cash. They don’t want to take the time to get the home assessed, They don’t want to be faced with the cost of getting it repaired either. Even though some people might be able to do the repairs themselves, for the most part the repairs will have to be done by professionals who have to be paid.
A home buying company will take care of those repairs for the owner. They’ll deduct the cost of the repairs from the price they’re willing to pay and make the owner an offer accordingly. They’ll pay the owner for the home and take care of the repairs. The sellers just take the cash and move on with their lives.
When going through a normal real estate transaction, a home in bad shape will put many buyers off. Others will offer to “take it off your hands” for a very small price. A home buying company has professionals that see potential that other buyers don’t see. They’ll offer a fair price regardless of the condition.
If a person is anxious to sell without worrying about the stress of inheriting a home, that person should consider a home buying company in Arizona if you live in Chandler, Gilbert, Queen Creek, Tempe, Scottsdale or Phoenix AZ.
