Inheriting a home from a loved one can be a wonderful yet frustrating situation. The sentimental value of the property can be overwhelming, particularly if you are weighing the option of selling it.
There is an easy way to unload an inherited house and sell it fast to a company that will respect and ease the process for you and your family. Read this guide to help weigh the benefits of selling your inherited home.
The quickest way to liquidate the property into cash can benefit the heirs or heiresses. When you find an investor who will purchase a property in cash, this typically means that they will buy the property “As-Is’.
When you are unloading an inherited home, sell “as-is” to a cash buyer, you can skip the standard procedures that come with getting an inherited home up for sale, such as the following:
Skip Cleaning out personal belongings.
Looking at your parents’ or loved ones’ most personal belongings is often one of the most emotional aspects of inheriting a home. Organizing items into piles: what to give away, what to throw away, and what to sell can be time-consuming and laborious on your mental state. However, when you sell your property to a cash buyer like Abbott-Price, they will allow you to keep anything and everything in the home. That means you don’t need to stress about sifting through the belongings to get them clean and ready for a relator to do walkthroughs in.
Skip the expensive cost of the home sitting empty.
Even an inherited house can be incredibly costly. When the home sits vacant, it creates costs and ongoing expenses. Property taxes, utilities, patience, homeowners insurance, and general wear and tear can add up fast and take money from your pockets.
Save money from the necessity of updates and restorations.
When you sell “as-is” to a cash buyer, you do not need to spend money making updates. Typically, inherited houses are in disrepair. The previous owner was elderly, sick, or unable to continue the upkeep with an older property. After the previous owner’s passing, the beneficiaries are accountable for the essential repairs prior to living in it, renting it out, or selling it. Making the necessary repairs can be pricey, even with the right contractors. In a recent report from The Associated Builders and Contractors (ABC), contractors have raised their prices 6% over the past year. Skipping these costs and selling for cash can save you immensely.
Capitalize on tax breaks.
If you sell the inherited property, EVEN if it has dramatically increased in value since the deceased has bought it, you will not have to pay the capital gains tax! That means you inherit the property at the fair market value at the date of death. When you sell the property, any tax you owe is based only on the increase in value while the house is in your possession.
Avoid all the hassles and unload your inherited home. Unloading an inherited home is easier than you think.
A house you inherit may not be able to be fixed up for sale or rented if you lack the budget, time, or appeal to do so. Instead of taking on the duty of maintaining the property, maybe you would prefer to receive cash. No matter what state your house is in or whether you are the executor of an estate, we will purchase it from you and help ease the burdens that come with inheriting a home.
Let Abbott-Price show you how easy selling your inherited property can be by filling out this form. We can let you know how much we would be willing to pay in cash, hassle, and commitment-free!