If you recently inherited a house in Houston, you are probably faced with a mixture of emotions. On one hand, you are still grieving for your loved one. It’s hard to make important financial decisions in that difficult emotional state. On the other hand, you just inherited a house and now don’t know what you should do next.
Inherited House: Asset or Liability?
The house you inherited can be a valuable asset or a drain on your finances. This depends on the condition of the property.
Often, inherited properties come with years of deferred maintenance. As such they need substantial repairs to bring the inherited property back in good condition. Unfortunately, if you decided to keep the property, the person responsible for these repairs is you.
In addition, you have to pay the holding costs for the property to secure it, keep the lights on, pay the property taxes and so on.
However, if you are able to make the repairs, this property can be a valuable asset that you could rent out.
Inherited a House: Keep or Sell?
If you want to own the property long term and have the resources to make substantial repairs, then you should keep the property. It is important to move forward with the repairs as soon as possible. Once the repairs are complete you will have a valuable property that you can enjoy for many years to come or rent out as an investment.
But what should you do if you have no interest in owning the inherited property and especially if you don’t have the means to pay tens of thousands in repairs?
The solution is to sell the unwanted property so you can use the proceeds to make your life better. But what’s the best way to sell an inherited property in Houston?
Best Ways to Sell Inherited House in Houston
If you decide to sell your inherited home in Houston that you don’t want to keep, you have a couple of options.
Selling your inherited home with a real estate agent
One way to sell your inherited home in Houston is to list the property with a real estate agent. The listing price will likely be closer to market value and the home advertised on the open market.
That sounds like a good idea until the home actually hits the market. Once Buyers walk through a property that needs thousands in repairs, they are not interested. Regular Buyers don’t want to take on a project of that magnitude. As a result, you might not get any regular buyer offers.
At the end of the day, all you are likely to get is investor offers that account for the substantial work that the property needs. But here’s the kicker: Because you listed the property with a real estate agent, you are now stuck paying high real estate commissions and closing costs.
Selling your inherited home direct to a professional house buyer
The best way to sell your inherited house in Houston that you don’t want to keep is to sell it fast for cash to a professional house buyer.
Signature House Buyers will make you a no-obligation offer on your home within 24 hours. We renovate and keep the properties we buy long term so we can afford to pay you more for your house. Our offer is guaranteed to close because we have the cash in the bank.
We will buy your house as is. You don’t have to make any repairs or even clean. Leave all repairs and cleaning to us. Also, we are flexible with your closing date and can close on your timeline.
Then we can close lightning quick (often in 7 days or less) and you can have the money in your bank account right away to use it as you see fit.