My inheritance includes a house I can’t possibly keep…what do I do?
There are number of answers to this question. One of the most common ways people acquire houses is through inheritance. The simple answer is to sell it, but the process of selling isn’t always simple.
• As soon as people inherit a house, they get all the expenses that go with it.
Once the house you inherit is yours, you inherit the bills for repairs, property taxes and anything else that go with it. Those costs don’t go away until the house is sold. There are a lot of reasons people can’t sell their house fast when it’s inherited.
• The house is ugly-that nasty shingle siding dad never replaced is now yours!
• That shag carpet left over from the 1970s is still there, and no buyer will set foot inside until it’s gone!
• Those outdated bathrooms are driving buyer after buyer away!
If you ask a traditional real estate agent, you’ll be told to upgrade or fix things before they will sell it. So you wait for the buyer to pick a contractor-that’s if you’re lucky enough to get a buyer on the hook, or you have to pay up front for the work-and that is never, ever cheap. You can’t take any chances, or you’ll be stuck with the house that much longer.
If you’re a person whose inheritance includes a house, you could sell the house as-is, which means you’ll sell for less than ideal market price, but that’s not the problem. The problem with selling a house as-is through a real estate agent is that you’ll still have to pay a sizable commission and also pay closing costs even as you’re not getting top dollar. Plus, the transaction through a traditional broker always takes a long time.
If you’re looking to sell your house fast then I’d like to make an offer on that inherited houses Don’t forget that you won’t have to pay any fees or real estate commissions. What that means to you is approximately $8,000+ in savings.