Depending on your personal and financial circumstances, inheriting a house from a loved one may not be a true pot of gold at the end of the rainbow. It’s especially true when that home is in need of repairs or renovations. When this happens, homeowners may wonder how they can deal with such needs, especially if there is no intent to keep the inherited house. If you now own a “fixer upper” and don’t have the means to fix it to sell, why not sell your house for cash? You can quickly sell a house without the need to deal with expensive repairs and get out from underneath an expensive burden.
Inheriting Someone Else’s Problems
Loved ones who leave a home to family members have the best intent. They give their property to family in the hopes that it can either be useful or provide a form of inheritance if they decide to sell the home. Regrettably, many inherited homes also suffer from varying levels of disrepair, most likely because they were owned by elderly individuals who either couldn’t or didn’t want to keep up with necessary home repairs. Thus, while the gift of their home was a thoughtful one, it often brings many unanticipated headaches to the inheritor.
The Difficulty of Selling Any Home Needing Repairs
Some homes need thousands of dollars in work in order to get a good price on the retail real estate market. This could mean waiting a long time to find the right purchaser, if it even sells at all. In the meantime, repair needs are likely to increase, which only worsens existing problems and reduces the resale value of the property. In some cases, a local governmental body or an HOA may require that repairs be done, which creates a very real problem for the person who inherited the house. The new owner may not have the means or desire to invest money to complete the required repairs to sell a house to a home buyer.
The Benefit of Selling Inherited Homes As-Is
If a person who inherited a home plans to keep it, repairs typically must be done. On the other hand, if you’re considering the benefits of selling an inherited home as is, either due to an inability to keep it or a need to have its cash value, you can sell your house for cash quite easily to a real estate investor. Such action avoids the headaches that typically accompany conventional sales, such as making the home show-ready, repeated showings, and potential delays until a sale can actually put money in your hands.
Investors meet with homeowners to purchase houses and offer to buy your house for an agreed price; it’s that simple. While the house’s condition will always be a consideration in determining price, being relieved of having to spend money to make necessary repairs allows those selling inherited homes as is to receive a fair price without having to spend money for repairs or renovations.
If you have inherited a home that you can’t or don’t want to keep, avoid losing any built-up equity. Sell your house for cash through a quick and simple transaction with a local real estate investor. Every area has people who want to purchase homes for investment reasons. Check online to find such a company and let them inspect the house. They will most likely be interested and make an offer to purchase the house for a fair price that considers any necessary repair or renovations. It’s certainly a favorable situation for anyone who inherits an older home and wants to be rid of a maintenance nightmare as quickly as possible!