When a loved one passes away, it can be a tragic and traumatic experience for everyone.
Not only is there grief, but also making and paying for funeral arrangements, paying off outstanding debts, and receiving a possible inheritance.
This article will explain the different options on how to sell an inherited property in New Orleans, LA and surrounding areas.
Problems Owning an Inherited Property
1. It’s tedious!
Preparing an inherited property for sale on the market can be a tedious, difficult, and confusing process. To put the house for sale, you will usually need to apply for a probate that allows you the legal right to deal with the deceased loved one’s estate. There is also a lot of paperwork and costs associated with this.
2. It’s confusing!
Selling an inherited property can be particularly confusing when there is more than one beneficiary to the property. Who’s going to do the repairs? Who will pay for it? How will you split the money? Should you hold on to it to rent?
Many times outstanding debts on the property need to be paid such as unpaid taxes or liens, utility bills, or insurance.
The house may be outdated and in need of repair before a buyer will be interested.
Realtors will also demand commissions and fees at closing which can be 3% or greater of the sale of the home. There may even be an inheritance tax.
4.It’s hard work!
You may have other responsibilities after inheriting a property. There may be tenants currently living in the property and you may have just become a property manager with all the problems associated with it, such as demanding rent from tenants every month and repairing damages done to the property.
Maintaining an extra property, dealing with monetary disputes and trying to liquidate assets can be a costly, stressful, and draining experience.
Solutions to Selling an Inherited Property
If living in the property or renting it out is not an option, it may be worth considering selling it to an investor quickly.
The longer you hold onto the property, the more taxes are owed and if the property is not being taken care of, it becomes worth less and less by the week.
While there are a few companies that claim to buy your house fast with cash, Vulcan Houses has been helping people with unwanted inherited property since 2010. We have helped homeowners deal with all these affairs very quickly and with as little stress as possible. We can help you deal with the responsibilities that come with an inherited property and allow you to focus on what truly matters.
We will guide you every step of the way including applying for probate, dealing with tax and debts, and even disputes between beneficiaries.
Realtors will bind you to a contract which will leave your house sitting on the market for months or years waiting on the right buyer. Even if you find the buyer yourself, you will still owe the realtor commission and fees.
Vulcan Houses can close on your property as soon as a week. We will never ask you to spend any money or do any repairs on the property. There are no obligations to accept our cash offer and we do not charge ANY fees or commissions at closing. We can even pay the closing costs. We cover ALL the seller fees from our pocket, including property surveys, house appraisals, inspections, etc.
We promise to make the sale quick and profitable for you. Don’t worry about paying mortgages on the property or waiting on the house to sell. Don’t spend large amounts of your hard-earned money on fixing or updating the property. Allow us to take the burden from you. Please feel free to contact us at (205) 938-4289 anytime or visit our website at www.vulcanhouses.com to learn more on how to sell an inherited property.