You Inherited A Home And Are Wondering What Are Your Options
First, you must decide whether you want to live in the property, sell the property or rent the property.
If you inherited a home and decide to rent the property, you must clean out ALL the previous owner’s property.
Maybe the home needs fixing up, maybe it needs new appliances, roof, flooring, paint or whatever. These are things that need to be done before it can be rented.
If you want to live in the property, another consideration is what to do with your current home.
If you decide to sell the property, there are important things to consider before listing it.
Because you inherited the property, you inherit it at fair market value. This means capitol gains will be on the difference of fair market value at the time of your inheritance and when you sell it.
Unlike most advice I see on the internet, I don’t recommend running out and hiring a real estate agent to run comps. Doing this may lock you into a long-term contract with them, limiting your options and reducing your profit when selling.
You must understand, these articles on the internet, are written by agents to bolster their income.
But that said, there are times you will get more money for your home listing with an agent.
Although you could get more money selling with a real estate agent, you will pay commissions upwards of 6% deducted right off the top from your sale price.
Selling with an agent will have many “tire kickers” just curious about walking through the house with no intention of buying.
And the ones that do want to buy may get held up, denied or an amended contract loaded with contingent sale conditions from the loan servicer.
Why is that important?
Is the house in pristine condition, updated, maintained and ready to live in?
Then list with a real estate agent. This would be the best situation for you.
If it is not updated, maintained and ready to sell, you need to ask yourself…
“Do I want the hassles of hiring contractors and waiting months getting the house ready to sell, or do I want to sell NOW?”
Look, if you do decide to sell this home or the one you were living in, consider using us.
We charge no commission fees saving you upwards of 6% without doing a thing. Almost $18,000 in real estate commission savings on a $300,000 home.
No need to clean up, fix-up, freshen up the paint, replace broken furnace, water heater, plumbing, electrical, windows, heaving or cracking concreate, whatever, I don’t care. I want to buy your house as-is condition.
WE PAY ALL CLOSING COSTS