Thinking about selling your inherited house? In this blog post, you’ll read about the 4 no stress tricks for preparing to sell an inherited property in McKinney so you can sell it easily, with no hassle. If you are in the beginning stages of inheriting a property you have options. Not every house has to go through Probate so please do your research to see if the heirship affidavit path can work for your situation vs taking a property through the laborious probate process.
Selling an inherited house can be frustrating, time-consuming, and even expensive especially when there are multiple heirs involved. Family and finances can very tough especially when things are not laid out clearly in a certified will.
So if you want to sell your inherited property without all the hassle, here are 4 no stress tricks for preparing to sell an inherited property in McKinney…
No Stress Trick #1 Plan Ahead
Most people who sell a house just decide to sell without thinking through what that looks like.
- Do you have a budget for the ongoing expenses like electric, water, HOA dues and lawn maintenance and any repairs needed?
- What if repairs take a long time?
- What if there are possible unforeseen issues behind the walls like old wiring, termites, etc.
- What if the listing takes a long time?
- What contingencies do you have if the real estate agent can’t find a buyer?
It’s stressful if you have to decide these things as they come up but if you’ve already thought about them, you’ll eliminate some of the stress. Some of the repair issues you just can not avoid especially with older homes.
No Stress Trick #2 Be Informed
Do you know what the process is to sell? Do you know how long it will take? Do you know how much it will cost you? Is it even a good time to sell? Who is buying right now? Should I even sell? Do some research ahead of time and ask these questions to get informed about selling and the current market conditions.
The more information you have, the better. This process becomes even more critical if the property is in a different state than the one you live in. You need to know what your options are to make the best decision on how to sell to minimize the stress on the heirs.
No Stress Trick #3 Get Consensus
If multiple heirs own the inherited property, you’ll want to gather your research and then talk to each heir to get a consensus.
Nothing is worse than starting the listing process and trying to sell your property only to be stopped in your tracks by an heir who wants to go in a different direction with the property. The best approach is to have the heirs proceeds or plans in writing before you start the process of selling the house or doing repairs. Who is handling the oversight of the repairs? Who is paying for it? What is the budget and who is making design decisions?
As a professional remodeler I can tell you remodeling a home is a tremendously hard process and I don’t have to consult with others…other than the boss my Wife :). If you have never remodeled or flipped a house you should explore alternative as is selling options just so you understand all your options.
No Stress Trick #4 Work With A House Buyer
Actually, you can skip a lot of the legwork and hassle by selling directly to a house buyer. A house buying company (like what we do here at Home Buying Guys) is the simplest, fastest way to put cash in your pocket because they often buy houses fast, for cash, and in as-is condition… and are experts at dealing with any of the challenges with titles, liens, multiple heirs, etc.
So one call to a company like ours is the best no-stress trick! We will do the repairs on the property, sell it most likely to a new homeowner and you avoid all that hassle.
What’s the downsize?
Your net proceeds COULD be less than a traditional sale on mls, however not always. By the time you factor in a remodel and expenses to hold the property there are many times where an as is sale allow you to net more and avoid the stress of dealing with family members trying to figure out who is remodeling the master bathroom.
These 4 no stress tricks for preparing to sell an inherited property in McKinney will help you finally deal with that inherited property without the hassle and stress! We would love to be a resource for you regarding selling a house, buying a house, remodeling a house in the DFW area. Give us a call for any advice you need regarding real estate, we do it all and enjoy guiding people through their property journeys.