Inheriting a house can be both a blessing and a burden, depending on your circumstances. While it may hold emotional value, it can also be an additional expense that you might not be able to afford or want to deal with. If you’re looking to sell an inherited house for cash, you’re probably wondering where to start. In this blog post, we’ll explain the circumstances that lead to selling an inherited house, what cash home buyers do, the process of selling an inherited house for cash, and how it can make the process quick and easy.
Reasons to Sell an Inherited House
There are various reasons why people choose to sell inherited houses for cash. Some of these include:
- The cost of maintaining the property is too high. When you inherit a house, you also inherit all the expenses that come with it. This includes property taxes, insurance, maintenance, and repairs. If you can’t afford to keep up with these expenses (on top of your own house), selling the house for cash may be your best option.
- The house needs extensive repairs. If the inherited house needs extensive repairs or updates for today’s picky buyers, it may not be worth the time or money to fix it up.
- The house is in a different state. If you live in a different state from the inherited house, managing the property from a distance can be a challenge to say the least. You don’t want to miss a tax payment, forget cutting the grass and get a fine, etc. It can be easier to sell the house for cash and avoid the hassle.
How cash home buyers help people to sell houses for cash
Cash home buyers are investors who specialize in buying properties for cash. These buyers typically purchase properties in any condition, including houses that require extensive repairs or renovation. They typically offer a quick and hassle-free sale, with the option to close on the sale in as little as seven- to- ten days. Cash home buyers provide an alternative to the traditional home selling process, which can be lengthy and complicated.
What’s the process of selling an inherited house for cash?
Selling an inherited house for cash is a relatively straightforward process. Here are the basic steps:
- Contact a cash home buyer. Olson Home Buyers buys properties across Chicagoland.
- Get a free, no obligation offer. The cash home buyer will assess the property and provide you with an offer. This offer is typically lower than the market value of the property, but it accounts for the fact that the buyer is taking on the risk of buying a property needs repairs or renovations and will need to pay to upgrade it to market standards.
- Accept the offer. If you’re happy with the offer, you can accept it and move forward with the sale.
- Close the sale. The cash home buyer will typically handle all, or nearly all, the paperwork and closing costs, making the process quick and easy.
How cash buyers make selling an inherited home easy
Selling an inherited house for cash can be quick and easy for several reasons:
- No repairs or renovations required. Cash home buyers purchase properties in any condition, so you don’t need to worry about making any repairs or renovations to the property.
- No showings or open houses. Traditional home sales require multiple showings and open houses, which can be time-consuming and stressful. With a cash sale, you only need to show the property to the buyer once.
- No contingencies or delays. Traditional home sales often have contingencies, such as inspections or financing, that can cause delays or even cause the sale to fall through. With a cash sale you can close on the sale quickly and with certainty.
All in all, selling an inherited house for cash can be a simple, straightforward process that provides an alternative to the traditional home selling process. Cash home buyers offer a hassle-free sale that can help you avoid the stress and expenses involved with listing on the MLS. If you’re interested in this option, reach out to Olson Home Buyers today, get an offer, and get a fresh start.