The Smart Solution to Selling an Inherited Home
Inheriting a family home can often bring a mix of emotions. Whilst having to deal with the loss of a loved one, we also find ourselves forced into a situation where we have to quickly become professionals in the real estate industry, and repair, market, and sell a house.
Selling a house can take a long time depending on a number of factors, including the state of the local market and the condition of the house. Often people find themselves being drawn into a situation they don’t want to be in – having a property sale to deal with when they simply want to liquidate the estate and look forward to the future.
When a new customer calls us, their first question is often “why should I accept cash for my house?”. In order to answer the question, here are a few things we hear from relieved customers who have quickly and satisfactorily sold their inherited house for cash.
“Accepting cash for my house maintained relations with my family”
Placed in an awkward position of dividing the money between your loved can’t really come at a worse time than when you are dealing with the emotional fallout of bereavement. It can become a sensitive topic, and the longer it is left the more stressful it becomes. The executor can often come under fire from relatives who want to know what they stand to gain from the estate, and want it taken care of as soon as possible. This added stress to the executor can severely damage family relations. The ones who accept cash for a house often avoid these potential damaging fractures in family dynamics.
“Is it better to list it instead of accepting cash for my house?”
One of the common misconceptions about selling a house is in the valuation. People look the recent data to get an idea of the market value, however, it is rare a house will sell for the asking price. In reality, offers on houses can be tens of thousands of dollars below their list price. 2016 statistics for the Charlotte area show the average sale price to be 68% of the list price. It can often take people months to accept the actual price houses exchange hands for, and all the time living with the constant stress of trying to realize the home’s imaginary, inflated value.
“Accepting cash for my house saved me money!”
An inherited home does not come free from expenses and obligations. If there are mortgage payments outstanding on the house, these have to be maintained, as well as the utility bills, and a good, saleable condition. Sitting on a house and just waiting for the right buyer to miraculously appear in your life can mean you stretching yourself thin by paying twice as many bills as normal. A house can take months and months to sell, and people can often tie themselves up in a tight financial situation on a false promise of eventually getting a better price for an inherited home.
“Do I have to make repairs before I accept cash for my house?”
One of the main factors for the sale of a house is the present condition, and quite often, inherited homes have fallen into a state of disrepair. Inherited real estate usually comes from an elderly relative, and so, the homes have lacked the necessary maintenance to keep it in a saleable state. The costs of repairing a home can spiral depending on the individual nature of the house, with bills that can end up costing thousands and thousands of dollars. Cash buyers factor repairs into the valuation, meaning we take care of this cost, not you.
Cash for My House – Charlotte
At JMS, we know the pressure placed upon the executor of an estate and the stress of months passing, waiting to achieve a market valuation which is artificially inflated. We buy homes in and around the Charlotte area – including University City – offering cash for your house to get the process of selling an inherited home started, and finished, at lightening-quick speed.