If you’ve inherited a property and you’re thinking about selling it, you might want to consider multiple options. Read this blog post to find out the 3 financial options you can pursue when selling an inherited property in Murfreesboro TN.
When a loved one passes and leaves you with a property, it might be a meaningful gesture but, the truth is, an inherited property isn’t always necessarily a blessing. There are usually additional expenses, maintenance and stress that accompanies the property.
So if you are thinking of selling, your first thought might be to sell with the help of a real estate agent. However, you might be surprised to learn that you do have multiple options that you may want to consider as well.
Option #1. Selling Through An Agent…
There’s nothing wrong with selling through a real estate agent but you should be aware that an agent will usually ask you to clean out the house, haven inspection done then make a few repairs and updates. All of which take time and money. Then there are the hefty agent commission, possible seller concessions and closing costs you will be asked to pay. This method can take months, and most people don’t like how long it take
Option #2. Become A Landlord
One option is to become a landlord, rent the property to a tenant. This could possibly be an additional source of revenue for you. Remember that you usually have some repairs to make up front. Also, be sure to factor in taxes, insurance, ongoing maintenance, property management expenses and vacancies. Honestly this isn’t a bad idea if your situation is such that you have the time to deal with it.
Option #3. Sell Fast For Cash
One option that many owners of inherited properties have enjoyed is selling the house fast for cash directly to a professional house buyer such as Provision Homes LLC. We buy houses as-is so there are no repairs that you need to make. Since you are selling directly to us there are no hefty agent fees or commissions that you need to pay. We cover all the normal closing costs as well. Plus, we always encourage our clients to take whatever you or the other heirs choose to keep and leave the rest behind. We work closely with the title company who works with the estate attorney to be sure things are done correctly. Our home buying process is fast and simple!