Selling Your Inherited Home For Cash – Is It A Good Idea?

sell home for cash

Before we dive in, we are going to be completely honest with you:

Selling your house for cash may not be an excellent option.
This goes for your own home or even an inherited one

 

Yes, that’s right, if you own a home that’s in perfect condition and have plenty of time, selling it for cash may not be the best option.

You will probably get a better deal by selling with a real estate agent and waiting however long it takes to sell on the market.

However, if you do not meet the requirements mentioned above and need to sell fast, there are numerous benefits to selling to cash buyers. Since your time is valuable, we will begin with the most important advantage.

Cash home buyers buy fast!

Do not underestimate the value of this.

Time is money, and that rule is no exception in real estate. So selling your inherited home for cash may just be a good idea!

The personal time that gets gobbled up when trying to sell is nothing compared to just owning the property.

The taxes, insurance, maintenance, and utilities can easily set you back thousands of dollars over the many months it takes to sell a home in a regular manner.

All that money, however, could stay in your pocket if you use a real estate investor.

Avoiding frustrations is yet another benefit of selling to cash home buyers; especially if the house in inherited.

We could literally list dozens of ways selling a home could be frustrating, but we are going to mention some of the most common.

Fixing your house, staging it, keeping it in a show-ready condition, dealing with picky buyers, having to leave the house on short notice for a showing, window shoppers, paying for a home you don’t live in, nosy neighbors, negotiating with potential buyers, worrying whether the home will ever sell, people backing out of contracts, real estate agents commissions and the uncertainty of it all are some of the reasons why most find it stressful to sell a home the conventional way.

Last but not least, cash is king!

Seriously what would you rather have? A property that is worth $400,000 or money in the bank? This is even more so with an inherited home – this is surplus! & it may not be local to you.

Of course, you would rather have the latter as you would do anything you wish with it. If you have a home, you need to sell first to get the money.

The most, however, you could hope to get after selling a $400,000 home through a real estate agent is $360,000, and that is if you did not have to make any house improvements and sold for full price.selling house for cash

Just do the math, the agent’s commissions and the closing costs add to $40,000. Also, chances are you will have a couple of thousands in repairs and forced to negotiate down a few more and pay the home buyer’s closing costs.

That means you will likely get around $350,000 for your $400,000 home.

As mentioned, Cash is Kings and so, grabbing a quick cash offer from the real estate investor is most likely going to be your best option.

The time and money saved plus the frustrations you avoid by selling to a cash home buyer certainly make it worth it to sell for cash. Selling an inherited home for cash could just be the right thing to do!

Further Reading & Information:

https://www.loc.gov/law/help/inheritance-laws/unitedstates.php

https://www.loc.gov/law/help/inheritance-laws/unitedstates.php

https://www.usa.gov/auctions-and-sales

https://www.treasury.gov/services/Pages/auctions_index.aspx

https://www.treasury.gov/auctions/treasury/rp/

https://www.govsales.gov/govsales/govsales/

http://bricksandclicks.net/pros-cons-using-buy-houses-companies/

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