After a loved one dies, you may inherit a home that isn’t in great shape. It’s common for elderly relatives and people who are ill to fall behind on maintenance and repairs. If you don’t want to keep the house, you may consider selling it “as-is.” That way, you can focus on other important matters, like funeral proceedings or the mourning process.
Options when Inheriting a Home
Inheriting a home may be a welcome gift for some. People who are already living in the home don’t have to worry about moving. Others, such as an adult child or grandchild, may be grateful to start on the path toward home ownership.
But many times the loved one’s will stipulates that the home should be sold and the proceeds divided among the heirs. If there is no will, state laws will govern who qualifies as an heir and what percentage of the estate each person is entitled to. A lawyer can advise you on next steps.
What “As Is” Means to a Home Sale
Fixing up a house to sell isn’t easy or cheap. There may be money available in the estate for investing in repairs. Even so, hiring contractors and laborers can be expensive, and you will have to consider your return on investment. Listing the home to be sold “as-is” can result in a slow sale. Most buyers today don’t want a fixer-up. Those who are willing to take on the repairs expect to pay a lower price for the property.
How a Cash Buying Company Can Help
Selling the inherited home to a cash home buying company is often a good option. Home buying companies specialize in buying homes “as-is” and never require sellers to make repairs or even clean up the house.
A cash sale also results in a faster sale than placing the home on the market. A home buying company will make an offer within a day or so, and you can close on the property in a couple of weeks. You can settle the estate quickly.
Selling a house “as-is” isn’t easy on the open market, but selling to cash home buying company speeds up the process. If you’ve inherited a home, it makes sense to get a no-obligation cash offer before making a decision.
If you’ve inherited a home you want to sell quickly in the Spokane area, click here to learn more about selling your home for cash.