For many, an inherited house is a huge windfall and a wonderful, much-appreciated gift. Unfortunately, this isn’t always the case, though. For some, inheriting a house can be a major inconvenience and financial burden.
When you inherit a house, you are essentially left with three choices: keep the home, rent it out, or sell it. If you don’t plan on moving in and don’t want to deal with the hassle of renting it, you’re left with selling the home, which can be a difficult and emotional process. Things can be even further complicated if you add multiple heirs to the mix.
Regardless of what you decide to do with the inherited house, there are a few things that you’ll want to do:
- Make sure that the property is still insured, even if it is vacant. We hope that nothing will happen to the house, but it is always better to be safe than sorry!
- Keep up to date with taxes and mortgage. If there’s a mortgage on the home, don’t forget to let the bank know about the situation and keep making monthly payments. You’ll also want to make sure that you’re staying current on property tax payments.
- Track down the utility accounts. If you plan on coming in and out of the house for a while, leave the lights and water on, but you probably don’t need to keep paying for things like cable. Cancel the services that you no longer need and transfer the accounts to whoever will be in charge of paying the bills.
- Sort out the belongings. Going through a loved one’s belongings can be a draining process. Take the time that you need to thoughtfully sort and distribute sentimental or meaningful items.
- Hold a yard sale or estate sale. Sell any remaining furniture and items from the house in an estate or yard sale. If this seems like a large undertaking, consider hiring a professional who is skilled in pricing items and conducting the sale.
- Get everyone on board. As mentioned earlier, having multiple heirs to an estate can complicate matters. What if one person wants to keep it while the other wants to sell it? All parties will need to sign off on a sale, so it’s important to get everyone on board and work out a solution to potential problems ahead of time.
If you plan on selling an inherited house in Austin, you have several options:
If you have time, energy, and money to devote to the matter, you can find a real estate agent and list the house on the market. You’ll want to familiarize yourself with the details of the home and dig into any history of problems that a potential buyer might need to be aware of. To do this, you’ll hire a licensed inspector to come out and do a thorough inspection of the house. It is also likely that you will need to make repairs or even remodels to get it ready for the market. You also may decide to bypass the real estate agent altogether and attempt to sell the house on your own. Because you assume the responsibility of marketing of the property, this option can be even more time-consuming.
However, it’s not likely that you have the time or want to sink a lot of money into the home. After all, the world doesn’t stop for us when a loved one passes away. All of this has to be handled on top of your already busy life.
This is where a cash buyer can help. By selling your home directly, you avoid much of the time-consuming aspect of selling the house on the market. Because cash home buyers purchase homes as is, you don’t have to worry about making costly repairs, remodels, or updates. And the process is simple. After getting in touch with the cash buyer and giving a little information about the house, you’ll be contacted with a no obligation offer— often on the same day, meaning you can close in less than a week. As an added bonus, you won’t have to pay the commission and fees associated with using a real estate agent either!
It’s important to stay vigilant, as some cash home buyers take advantage of others during this vulnerable time. At Houndstooth Cash Buyers, we are your local Austin home buyers who will always give you an honest and fair price for your home when you need to sell your house for cash. Here you will find a reputable team of trustworthy professionals dedicated to helping you find solutions to your problems.
Do you have an inherited house that you want to sell? Let us help! Don’t hesitate to reach out to Houndstooth Cash Buyers today.