Tips for Selling an Inherited Property with Multiple Heirs

If you recently inherited a property with your siblings or other heirs, you may wonder what to do with it. In most cases, you won’t want to keep the family home or property, so how do you get rid of it? Here are some tips that can help you in this situation.

Make Sure You’re on the Same Page

You’ll want to have a sit-down conversation with the other heirs to make sure all of you agree on selling the property. If someone wants to keep it while others want to sell, it can make for a long process. The person who wants to keep the property will need to buy out the others.

Decide on How You Will Sell

Many times, an inherited property is older and hasn’t been updated. You’ll need to talk with the other heirs about how much work and money to put into the house to sell it. Renovations can take weeks or months, and it may delay the sale and the completion of probate for the estate. On the other hand, you may find it difficult to get a buyer interested in a home that needs work.

Understand the Challenges of Selling an Inherited Home

Most lenders won’t provide buyers a loan on a property that is still in probate. This issue will limit your pool of buyers even more because you will need someone with cash or financing that will accept a house in probate. Don’t expect a quick sale if you decide to go this route and be prepared to do a lot of work to get the home sold.

Hire a Realtor with Experience

Not all real estate agents have worked with inherited properties. Since this is a unique situation, you’ll want to find someone who understands the challenges and can handle issues that arise.

Avoid the Hassle with a Cash Buyer

You can avoid many of the challenges of selling an inherited home if you choose a cash buyer. A professional cash buyer like Quick Home Offers is experienced in buying inherited properties and the team can easily navigate through the process. Since cash buyers already have financing in place, they can close on the property within a week, allowing you to focus on other tasks for settling the estate.

To get a free cash offer with no obligation, contact Quick Home Offers today at 805-870-5749 or online