Inheriting a House You Don't Want to Keep
Inheriting a House You Don’t Want to Keep
When you receive real property as an inheritance it may not seem like a gift. It may feel more like a responsibility, especially when you’re inheriting a house you don’t want to keep. If there’s a mortgage on the house and you’re responsible for the monthly loan payments that house may feel like a big burden.
Sometimes an inherited house comes as a complete surprise. That can happen when you were not aware you were named in a will, or it can happen by law because you’re the closest relative as determined by the deceased person’s state of residence. One day you may get a surprise phone call and find out you’re the new owner of a house you’ve never seen.
In fact, that house may not be located in the state where you live. You may need to make a long trip, driving or flying, to inspect the property you now own. Living a long distance from inherited real estate is probably the #1 reason many heirs choose to sell it.
Getting Advice from Real Estate Agents
Let’s say you inherit a house far away from where you live, maybe halfway across the country. What’s your first thought about how to get advice on how to sell it? Most people think about calling a real estate agent. But that may not be the best call to make.
Real estate agents generally want to price their listings for the highest possible listing price, and in addition, they want their listings to look as clean and presentable as possible. While those are ideal conditions for selling most homes, they may be unattainable for an inherited house.
Unless you visit the property and invest the time and money to deal with remaining belongings the home may be too cluttered to show well. And unless you get busy cleaning and making repairs throughout the home, your inherited house is not likely to bring the highest possible price.
Selling an Inherited House to an Investor
You can avoid all the obligations you’ll face when listing an inherited house with a real estate agent. Calling a professional home buyer will save you the time and money you’d need to spend in visiting and preparing to put your house on the market. And it saves you the hassle of waiting for buyers to obtain financing approval, which can be a month or longer.
WePayFast.com buys inherited houses for cash, providing you with a quick, easy sale transaction. Call us at (405) 521-1807, or email [email protected] We may be able to help you if you’re inheriting a house you don’t want to keep.