In the country, most people who are selling a home have paid for it themselves, usually through a mortgage. However, this isn’t the case for everyone. If you’re in the situation of selling a home that was passed onto you, then there are a few routes that you might consider taking. Depending on your situation, how long the home has been in your possession, what shape the house is in, and your motive for selling, you’ll want to take a different approach to the sale. In this article, we’ll go over some steps to take before selling and some different options to consider.
Have the Home Inspected and Appraised
One of the first and foremost things that you will want to do before you sell the house is to have it appraised and inspected. Hire a company to come to your space and assess its overall value and make sure that there are no code violations that could affect the sale down the road. Knowing the state of your home and how valuable it is will be important for making any necessary decisions regarding the sale. Additionally, having an idea of how much your home is worth is essential when you choose an asking price,
Assess any Repairs
If the inspection report comes back with details of code violations or issues that could bring down the value of the home, start to come up with a plan on how to assess these repairs. If you have the time and the resources to mend the issues, then you can complete the updates and sell your home close to the asking price if not more. However, if you’re wanting to sell the home without putting any effort into it, be sure to disclose any repair needs to buyers or sell it to an investor who can take care of the issues for you.
Choose a Method of Selling
As touched on in the previous point, some people will choose to sell their home the traditional way while others will go the quicker and easier route of selling to an investor, oftentimes for cash. Depending on your overall situation, goals, and budget, either of these methods of selling is viable. Selling the traditional route will oftentimes guarantee a more profitable home sale while selling to an investor is going to be extensively less taxing and difficult. Choose the route that makes the most sense for you!
Work with a Realtor
When in doubt, contact a real estate agent for help. Real estate agents have a variety of skills and resources to help you move forward with a sale. Choose an agent who has experience in working with sellers who are selling a home that was inherited. They will have insight on the logistical side and can help you move through the process with ease. Feel comfortable interviewing several agents before you land on the one who feels right.
Choosing to sell a house that you inherited can feel overwhelming, especially if you’re not even sure where to start. Have your home appraised/inspected, weigh your options, and contact a realtor when you have any questions!