If you inherited a home, you may find it to be either a welcome gift or a time-consuming and expensive burden.
Inheriting property can be an asset and a dream come true, or a nightmare full of work and liability. Often, the one family member who is responsible for handling the details ends up with a big headache, doing all the work — coordinating maintenance, paying bills, making repairs, finding an agent or showing the house, while other family members just sit back and wait for a check.
An unwanted inherited home can be a real burden. There are a number of reasons you may not want an inherited home. The memories of the person who left you the home might be difficult to deal with, and this can be an emotional burden.
You could try renting out the home, but being a landlord is a huge responsibility requiring more time, energy, and money than you wish to spend. On the other hand, if the house is not occupied, it may be a target for squatters or vandalism, and become expensive or difficult to insure.
Dealing with these possible expenses and problems associated with an inherited home can make you wonder, “How can I sell my inherited home fast?”
For many people, selling an your inherited home quickly is a great option compared to keeping an unwanted property. When you have an unwanted home that you’ve inherited, liquidating it and selling it off as quickly as possible, with the least amount of fuss, can be a really attractive and beneficial option.
The Challenges Of Inheriting A Home
Inheriting a home is often more challenging and expensive than one might think. Property Taxes, utilities, mortgage, insurance premiums, etc., all must continue to be paid. Additionally, the home will likely need routine maintenance such as lawn care, snow removal, etc., and in some cases, major repairs or updating may also be required. Keep in mind that a home’s condition, curb appeal, and date of most recent renovation are key factors that most retail buyers consider. Real estate agents will often recommend that you maintain the lawn, make repairs, update the home’s aesthetics and functionality, and even upgrade the interior decor, if it lacks appeal. In other words, the house will need to be made “presentable” to potential buyers. Since this adds up to a lot of out of pocket expenses, consumes f precious time, and drains energy, many people prefer an easier and quicker option.
Selling Inherited Property for Cash
If you’re selling your inherited home fast to avoid financial issues and/or other headaches, there is an answer: selling for cash to a professional, licensed, real estate investor. Whether there are probate issues, liens, delinquent taxes that are owed, or the home simply needs too much work to qualify for a conventional sale, you can sell your inherited house for cash and avoid nightmares.
If you’re considering selling your inherited home located in Michigan, please call Allan Daniels at Dr. Daniels and Son Investment Real Estate Capital at 248-335-6166 for a no obligation, free consultation. We are more than happy to discuss your home with you so you can achieve your goals. Allan Daniels has been licensed in Michigan real estate since 1988.