It can be beneficial for some individuals when a loved one’s will names them as the new owner of a treasured item. However, when this item is a house, it can be an inconvenient transition. Whether the upkeep is too extensive, the taxes are too high, or there are significant HOA fees, inheriting a home can be more trouble than its worth.
Should you try to sell the home, you might find that getting rid of an inherited property differs from traditional selling.
Take a look at these five tips that will benefit you if you’re selling an inherited house in Pittsburgh.
Familiarize Yourself with Probate
Most of the time, selling an inherited property will require going through the probate process. Because local and state laws differ in their probate requirements, it’s a good idea to familiarize yourself with your state’s probate laws. This way, you can be prepared ahead of time. If you can, talk to a probate attorney for guidance. By being informed, you can ensure that you’ll meet all of the state and county requirements when it comes to selling an inherited home in Pittsburgh.
Consider Owner Financing
If you’re not in a hurry to sell your inherited property, you might want to consider embarking on a lease to own agreement. Typically the process takes three years to complete, and if you have the time, it’s worth investigating. While getting into a rent to own agreement with an aspiring buyer might be the right move, it’s important to inform yourself. You need to be aware of what demands you’ll need to satisfy as a landlord. If your home is not in great condition, you may need to invest in repairs before you can take this step.
For Sale By Owner
If a lease to own agreement isn’t for you, you may also want to look into the “for sale by owner (FSBO)” option. Selling the home without the help of an agent might save you money in the long run. Choosing this option isn’t without its risks, so it’s crucial to inform yourself and come up with a reasonable asking price. When selling your inherited property in Pittsburgh, it’s a good idea to start by researching the asking price and condition of homes in your area.
Hire a Real Estate Agent
If you’d like to be more disconnected from the home that you’re selling and rent to own or FSBO does not appeal to you, you might want to hire an agent. Listing your inherited house on the MLS with the help of an experienced real estate agent has its advantages and disadvantages. On one hand, you’ll likely need to improve the condition of the home (repairs, upgrades, etc.). You’ll also have to deal with commissions and closing costs, but it may be worth it. Real estate agents work to sell the home for you so that you don’t have to do it alone.
Look Into Professional Buyers
You may have already tried the previous selling methods and for whatever reason, they didn’t work for you. On the other hand, you may want to avoid getting into the hassle of selling an inherited house in Pittsburgh all together. In either of these scenarios, you might want to consider working with a professional cash house buyer.
At 412 Houses, we will take the time to listen to your situation and determine whether our process would fit your needs. Even if we’re not the best option for you, we can recommend a method that is. Should your home qualify for our buying process, we can offer you a fast, fair cash offer for your property. On top of that, we can close much quicker than any other method, sometimes in as little as a week.
When selling to a professional cash home buyer, you have no obligation to prepare the house for showings, repair or upgrade anything, market the home, or pay for any costs. This includes contingencies, commissions, and closing costs. We cover it all.
412 Houses makes the process of selling an inherited property in Pittsburgh as simple as possible. We guarantee a quick closing with a fair offer and no surprise fees. We pay for everything. If you’re interested in selling your home, regardless of the condition it’s in, please give us a call at (412) 346-0523 or send us a message. We can answer all of your questions and help you determine whether our process is right for you!