2 Things to Think about as You Try to Decide How to Sell an Inherited House Quickly

Real Estate Blog

If your parent recently died and had left his or her house to you and your siblings, you and your siblings might have difficulty determining how to settle the estate. You cannot literally divide a house into several portions to give each sibling a fair share, but there are other options you could choose. If you are in a rush to get the inheritance from this house, you will need to sell the house quickly. Here are two things to think about as you discuss this with your siblings.

One sibling might want to buy it

One way to sell the house quickly is to see if one of the siblings want the house. If one of the siblings wants the house, he or she should have first dibs at it. Using this method is quite beneficial; however, there will be issues to discuss, including

  • Can this particular sibling get a loan? If this sibling needs to take a loan to buy the house, he or she must be in a financial place that will allow him or her to qualify for a loan. If not, this will hold up the selling process, and you will not get your money quickly.
  • What should the selling price be? There are several ways to come up with a selling price for the home, but the best method is by getting an appraisal. The appraisal will tell you the market value of the house, and you could use this amount for the selling price.

As you discuss this with your siblings, you could also approach it from another perspective, which involves selling the house to a company that buys houses for cash.

A company will buy your house

If you feel that your sibling will not be able to buy the house fast enough, you might suggest selling it to a company that offers to buy houses for cash. Companies like this will buy almost any house, and this is one of the fastest ways to sell a home. This method is beneficial because

  • It does not require a real estate agent – You will not have to pay commissions when you sell the house.
  • The buyers pay cash – You will not have to wait for a bank to process a loan.

The downside to this method is that you will not be able to sell it for the appraised value of the home. These companies generally offer around 65 cents on the dollar for homes they buy. For example, if this home is worth $100,000, they might offer $65,000 for the house.

You could always combine these methods too. If your sibling wants to buy the house, you could allow him or her to make the purchase for the amount of money a house buyer would have paid you.

If you would like to learn more about selling a house quickly, you may want to begin by talking to quick sale home buyers.


19 August 2015

Apartment Frightmares: How You Can Live Happy Again

Apartment living can be a trial sometimes. Even the best apartment complexes can have problems, such as noisy neighbors. I experienced this firsthand with my newest neighbors. Between their partying and trashy existence, I was ready to go crazy. Late one night when they were being particularly noisy, I started researching my rights as a tenant. I found out I did not have to live with their inconsiderate behavior. As a public service, I decided to help others through this blog with their neighbor problems. Whether you are dealing with a landlord that will not do any repairs or bad neighbors, I can help.