When we work with those who’ve recently inherited a home, we find that many weren’t expecting the added expense and responsibility of a new property. Some were living in a state far away from the inherited house, while others had their own house to manage and couldn’t afford the repairs, and added holding cost of keeping their new inheritance. Often there was an abundance of unwanted possessions (stuff) that the family did not want to deal with. For these folks, a well-intentioned gift quickly turned into a stressful burden. Luckily, we have experience with these kinds of properties and were able to help these heirs remove a big burden.
When it comes to selling an inherited house, selling to an investor is usually the best option, below are three reasons why you should consider selling to an investor instead of a traditional buyer.
Investors buy with cash which increases the likelihood that the sale will go through without a hitch. This is extremely important for those who’ve inherited a house and can’t afford the mortgage expense. The banks demand repayment on time, and they don’t really care who is paying them or the personal struggles that the new owner may be experiencing. Professional home buyers, like us, buy with cash which enables us to bypass the lengthy mortgage approval process. Often we can close in as few as a few days.
Selling on the open market means making repairs or updates to the house. This benefits real estate agents who are seeking the highest price for the property for their sellers, and also because their commission is based on the sale price. The truth is that the expense of updates is not fully recouped in the sale price. In fact, an average kitchen remodel goes for around $15,000 and the ROI is only 54%! We buy as-is, which means we’ll take the house in any condition, even if it means that we end up needing to make costly repairs to foundations, roofs, or plumbing.
Fair Offers and No Fees or Commissions
Before giving an offer we complete our due diligence just as a real estate agent would. We take into account the age of the home, the condition, as well as other factors like the price of recent sales near the subject property. In most cases, our offers are very close to what you would receive from a traditional buyer after taking into account the money you save on transaction fees and real estate agent commissions that come right out of the seller’s pocket during a traditional transaction.
What to Expect When Working with a Cash Home Buyer
Here’s a quick rundown of what you can expect when working with us. The first thing we’ll do is have a conversation with you to collect some basic information about the property. This includes things like the address, square footage, and number of bedrooms and bathrooms. Once we have this information, we’ll do some initial discovery and research to come up with our offer price. If you accept our offer, we’ll begin the closing process. Once the paperwork is complete, escrow will transfer your funds. The process is fast and easy.
If you’d like a cash offer on your home contact us today!