An inherited property in Cherryville gives you a financial boost, which is the purpose of an inheritance. An inherited house is a common gift families pass on to their loved ones. However, owning additional property may not be the investment you want to manage. Owning property is work and challenging, especially if you live outside Cherryville or nearby.
Here are several financial options to consider when evaluating how to maximize the opportunity you have been given with your inherited property.
First, Let’s Talk About Selling Through An Agent…
If you have the time to find an agent and have them list the home, this is the first choice to consider. This is especially true when the inherited home is in excellent condition and recently updated, making it perfect for open houses and showings. Listing your home with an agent will be a breeze in this scenario. In this scenario, your real estate agent who knows the Cherryville market will work for you. Their job will be to list the home, take professional photos, and market your home on the MLS, Zillow, and Facebook Marketplace.
Second, Let’s Look At The Other Options..
Option #1. Refinance
Refinancing is an option that involves selling your property to a bank and using the money for other purposes. Even though you will still own the house, many people may consider this a financial decision if they refinance to obtain the money. You can still use the property or rent it out and must repay the loan to the bank. However, this will provide you with cash that you can utilize for other investments or necessities.
Option #2. Rent To Own
Another practical option to explore when selling your inherited home is selling it to a tenant. The rent-to-own agreement is a long-term financial decision that can benefit you and the tenant. This type of agreement involves selling the property to a tenant who desires to own a home but is not yet able to obtain a mortgage. The tenant will pay rent to you as the owner, with the intention of eventually owning the property. This can be done by either paying an additional amount above their rent to go towards the purchase of the property or waiting until their credit is improved to buy the house with a mortgage.
Option #3. Sell Fast For Cash
Did you know there is a way to sell your inherited property quickly for cash? Instead of waiting months and relying on an agent to find a buyer, consider working with a house-buying company like JMS Home Buyers. We can buy your property as-is and provide cash in just a few days without any additional work on your part. It’s a straightforward and speedy solution.
If you inherited a home in Cherryville with costly repairs that prevent it from being an ideal listing for a real estate agent, selling to a cash buyer may be the best decision for you and your goals. JMS Home Buyers buys houses in Cherryville. We focus on helping homeowners sell their houses fast. We are here to help and recognize that every situation is unique, and every family that inherits a home will face unique challenges. That is why we will listen to what is best for you and your family when we meet with you.
It is common for families to be overwhelmed by the thought of preparing a home to be sold. We can eliminate that stress. We buy houses regardless of the condition. That means you can remove personal items and leave the rest to us. And if you don’t live in Cherryville, we will arrange for you to close from the comfort of your home. We focus on providing simple solutions, including the selling experience. You can choose the date and let us manage all the steps to selling the home.
There you have it! Three financial options to consider with your inherited Cherryville house.
If selling your inherited property is the path you want to take, we would love to talk with you. We are local cash buyers in Cherryville specializing in fast home sales. We buy houses regardless of the condition and will close on your chosen date. Don’t live in Cherryville? No problem. We will bring the closing to you. Call our office at 704-707-6016 or jmshomebuyers@gmail.com to schedule a call.