It’s Not a Walk in the Park
Inheriting property is always a good thing, right? Well, the answer isn’t black and white. Whether or not inheriting property is positive or negative depends on a variety of factors, like how busy you are, how much disposable income you have, how far away from the property you live, and what condition the property is in in the first place. For an older home, you might be surprised at how high the maintenance costs are before you even factor in potential improvements. Regardless of whether the home is new, it’s important to remember that inheriting the property for free does not mean that owning it will be cost-effective: as the owner, you’ll be responsible for paying for insurance, property taxes, and any repairs that are needed on the property. This can amount to thousands of dollars every year.
Don’t get us wrong: if this is something that you can (and are willing to) take care of, then owning a new (to you) house can be very rewarding. However, if you don’t have the time or resources to properly care for an inherited home, you can still benefit from getting rid of it. Here’s what you need to know.
Getting Rid of the Property the Traditional Way
The obvious solution if you inherited a home you don’t want is to sell it, but there are different ways to go about it. The most popular is to work with a real estate agent, list the home on the market, and field offers from different buyers before settling on one. Though this can be a good option, it can also backfire if you don’t know what to expect. In Florida, the typical home sale on the real estate market takes about three months total. On top of that, you’ll have to be prepared for several parts of the process, including back and forth negotiations, an escrow period, inspections, and appraisals, to name a few – all of which could lead to the offer falling through at any point if anything goes wrong. We don’t say this to be alarmist: we say it so you know what you’d be getting into. Luckily, this traditional approach to selling a house isn’t the only way to do it.
The Truth About Selling for Cash
Selling your house for cash gives you the quickness and convenience that the traditional real estate process usually doesn’t. When you work with a reputable cash buyer, you can get your cash sale done quickly (with PlacePitch, it can be done in as little as one business day) while still getting a fair offer that’s based on real-time market data. In order to find a reliable cash buyer, look for someone who is prompt at getting back to you, who answers your questions clearly, who has an easy-to-follow process, and who has a track record of positive sales. By looking for a cash buyer with these criteria, you will be well set up to have a simple, stress-free cash sale. Click here to learn more.