How to Sell Your Inherited Property Quickly
Let's get real for a second. Inheriting a house can be both a blessing and a headache. With great responsibility often comes tough choices, and that clock is ticking especially if you need to sell the property fast! Whether financial necessity, emotional reasons, or other various challenges are making you sell, inherited home sales can be among some of the most complicated transactions there are in real estate. Take a deep breath! We're here to guide you!
Here's a guide to make this journey as smooth and efficient as possible for you.
Understanding the Process to Sell Your House Quickly
First things first, let me make sure both of us are on the same page regarding the legal and practical steps involved, bare with me for 1 minute!
- Probate Process: Most of the time, a house that has been inherited needs to go through probate before being sold. Simply put, it's a judicial process through where the will is authenticated, verified, and the estate is settled. Please, take note that you must seek the advice of an estate attorney to understand what is involved in a probate and how long it might take in your state. If you need local trusted recommendations, call us. There are a few trusted lawyers we can recommend you.
- Make sure that the title is clear and that you have the legal right to sell it. Don't sell a property you don't own... well, because, I can't pay for your bail bond! Anyways, this usually involves transferring the deed to your name if that wasn't already completed through probate.
- Outstanding Debts: Unpaid debts should be searched, which would include a mortgage or any liens against the property. These would need to be settled before the ultimate sale of the property.
Not too bad, right? So we went over the fact that you have several options when it comes to selling an inherited property.
What's best for you will depend on your timeline, financial situation, and the house's condition.
You can either sell the traditional way or to a cash buyer.
More on that later...
Preparing the House for a Quick Sale
While you may be tempted to sell the house as-is, a bit of preparation can go a long way in enhancing its market appeal and value:
- Clean and Declutter: Okayy, who seriously enjoys cleaning? Maybe a few of us weirdos like to clean just a little, and that is even stretching it! If you are up for it, first take out the personal items, and PLEASE take out the clutter; this makes the home more inviting to potential buyers. A clean, neutral space allows buyers to imagine themselves in the home.
- Minor Repairs: Any obvious repairs that could deter buyers should be fixed, such as bad leaky faucets, broken windows, and peeling paint. Little things have the greatest impact. If something obviously needs to be fixed, then your buyer will definitely pick up on that. If you don't fix it now, they might bring it up during inspection.
- Staging: If possible, stage the home to show its best features. This does not have to be an expensive effort, and even cheap furniture arrangements with minimum decoration make a home much more inviting. Flowers are the fastest and easiest way to make a home inviting! We use flowers throughout the house many times when we sell our homes. It's truly impactful and truthfully, my 1# properity IS to incorperate flowers when selling. It makes that big of a difference. If all of that is not something you want to do, I don't blame you, as I wouldn't want to do it either! If you're looking for other options, continue reading...
Best Options to Sell Your Home As Is
Your first option is:
Traditional Sale: Listing the house with a real estate agent. Although you would like to show your house to as many buyers as possible, this can take some time, commonly 3-6 months. It also typically involves an inspector looking over the house and also an appraiser who is sent from the bank and will go through your house in order to price your home. Since they won't lend money to a buyer if the house isn't worth it. This is not to scare you, only to inform you, as it's important to know the steps and details. In addition, you'll need to add in the commission and closing costs, which more often than not run in the range of $6,000 to $15,000. Believe it or not, closing costs can be that high, and sometimes even higher depending on the price.
OR, your second option, which is much quicker, is to sell to a:
Cash Buyer: This is more hassle-free, allowing you to sell your house fast and often in days. This would be a perfect option for you if you do not want to wait months, decluttering or cleaning. You simply want a quick, convenient sale. Oh, let me mention again that... there's ABSOLUTELY NO need to clean the house, and that clutter laying around can stay that way! Yes, you can leave it! This is the convenience of selling fast to a cash buyer, it speeds up the process so you can move on with your life.
Closing Thoughts On Fast Selling
While selling an inherited house does take a lot of planning and consideration, the right approach keeps you ahead with ease. In case you seek to sell your property fast and without any hassle, then a cash buyer is what you are looking for. You wouldn't have to go through the traditional sale, which can take a long time, get into repairs and cleaning of your home. We are here so that you can move forward without stress or turmoil in managing your inherited property.
Our team will guide you through the process of selling your house quickly. We take pride in making the house selling process quick, easy, and stress-free. Let's make that inherited property a positive experience!
