Last updated on March 8, 2017
Ready to sell your inherited house? In this article, we’re going to talk about 4 tricks you can do to reduce and even eliminate the stress of selling an inherited property in California. Selling a home is one of the most stressful things there is. And it can eat your time and money! If you’re dealing with an inherited home, then that’s double the trouble if you can’t afford to maintain it.
If you’re in this situation and you want to avoid all the hassle, let’s talk about 4 stress free tips you can use to prepare yourself for selling an inherited home here in SoCal.
Stress-Free Trick #1: Plan Ahead
This may be obvious to most, but you'd be surprised how many don't think the process through before doing it. Many people just wing it and this is when things get overwhelming.
So let's break it down...
First of all figure out the following:
- Do you have a budget to manage the property?
- Does it need repairs and how long will those repairs take?
- Will listing take a long time? Time you may not have?
- What contingencies are there if your agent can’t find a buyer?
It’s stressful, no doubt but if you have to figure these things out as they come up you’re in for a lot more problems than were you to do it now. Trust us, you’ll thank yourself in the end!
Stress-Free Trick #2: Inform Yourself
- Do you already know what the process is like when it comes to selling an inherited home?
- Do you know how long the process will take?
- Are you aware of the costs and taxes involved when selling an inherited home?
- Is it a good time to sell or are you better off renting the property?
It’s important to do your research here and be thorough about it. You could lose or gain a tremendous amount of money with just a little or lack of knowledge.
So do your research and get the answers to these questions. The more information, the more control you’ll have.
Stress-Free Trick #3: Get Feedback if Needed
If there are multiple heirs associated with the property you’ll need to do some finagling. It’s important that every is treated fairly and heard openly about what they feel should be done with the home if entitled to it.
There’s nothing worse than family turmoil starting over opposing family members who want different things for the home. If you share the property with multiple heirs make sure to hear them out and nip any disputes in the bud before they blossom.
Stress-Free Trick #4: Sell Direct to a Cash Buyer
Today, the days of hiring a Real Estate agent are slowing starting to fade. With the introduction of new technology, real estate investment professionals are able to bypass the majority of the legwork involved with listing your home.
Does the home need work?
Is it filled with trash and junk you don’t even want to think about?
Don’t have the time to fly back and forth to manage the home?
Don’t worry about it.
Selling direct to a cash buyer allows you to forgo any of the hassle and legwork associated with traditional sales. And for owners out of state, the process can be done easily over the phone. Quite simply, it’s the easiest and fastest way to cash out on a property in ‘as-is’ condition.
Any problems you may be facing with title, liens, multiple heirs, etc. investment professionals can often help you navigate these waters and find a win-win solution to the situation.
All you need to do is give us a call and we can help with an absolute stress-free transaction from start to finish.
These 4 tips to consider when considering selling your inherited home in SoCal. If you decide to look further into selling to a real estate investment professional, gives us a call and let us explain more about what we do and how we can assist your situation.