If you’ve inherited a property and you’re planning to sell it, make sure you read this blog post about how to price your inherited home in Murfreesboro for sale…
Did you inherit a property that you’re now thinking about selling? While an inherited property can be a wonderful gift from a loved one who has passed on, it can also (quite frankly) be a costly burden. So selling it makes sense and allows you to use the gifted equity for other purposes. But selling an inherited property may not come easy to you, especially if you haven’t sold a property in a while. So here’s how to price your inherited home in Murfreesboro for sale…
Tip #1: Price Quick To Sell
Some people price their inherited property at what they think the market will pay for the house. However, there are many factors that go into a fair price and one of the biggest considerations is: how fast do you want to sell? Selling through an agent can take months, especially if the house needs work, and you’ll have to pay the note assuming there is one and maintain insurance, utilities, upkeep , etc the entire time. That can be costly and can eat into your potential profit.
Many property owners quickly learn that they’re better off to price slightly lower for a faster sale… they might get less for the house but they also pay less on repairs, carrying costs, effort, and time, so it’s ultimately a trade-off that might turn out to be a total wash.
Tip #2: Avoid Pricing Based On Fond Memories Or Emotion
One of the biggest challenges that property owners of inherited property face when trying to price their property for sale is separating the happy memories from the true value of the house. The house might be worth a certain amount on the market but you may have such fond memories of growing up in the house or of happy times in the house that you inadvertently use that emotion to increase the price. This is more common than you might think.
A better approach would be to work with a real estate company and find out what they can offer you, and recognize that the price might be lower than you were expecting… not because the house isn’t worth as much but because your wonderful memories have accidentally inflated the price!
Tip #3: Build In Discounts For Repairs
If you inherited the property from a loved one who had lived in the property for many years then you might find out that the property needs some repairs. You could choose to do this work yourself and then ask for a higher price but why do that when you could save yourself the time, effort, and not to mention aggravation of dealing with contractors and instead just ask for less and give a “repair discount”. That way you avoid the hassle of the work, and you still come out the same financially.
Here Is A Better Idea!
A better approach would be to work with a professional house buying company such as Provision Homes LLC! We are local to middle Tennessee and buy houses as-is. Absolutely no repairs required on your part. No cleaning either! Just take what you want and leave the rest. We typically donate the slightly used items to Goodwill or similar organization. If the house is still in probate not a problem. We work with the estate attorney and title company to be sure everything is done correctly.