Here are 5 tips for selling an inherited house in SW Florida. It starts with a will and testament. Loved ones create a will and decide who will inherit family heirlooms, personal property and homes upon their passing. Inheriting a home can be a blessing, but it can sometimes be a curse. Sometimes, people ends up with a property they can’t afford due to upkeep and repair issues, property taxes, and homeowners association fees.
Prepare for Probate
An inherited property will likely have to go through the probate process. Sometimes, you’ll have to go through multiple probates, because every state has their own rules and regulation. For example, if your mother passes away and has a home in New Jersey and Florida, you’ll have to hire attorneys in each state and go through multiple probates. It can be quite complicated and expensive. Being prepared in advance to handle probate is a good tip for selling an inherited house in SW Florida.
Become a Landlord
You could become landlord and rent the home out to a tenant, collect rents, and manage the property yourself. If that seems like too much work, you can hire a professional property management company to do that for you. Typically, you’ll pay the first month’s rent to them and then 10% monthly to handle the tenants. They will want to be able to handle monthly maintenance issues quickly, so most management companies will want to bill you for emergencies. Oftentimes, landlords find they come out ahead when they rent out their properties through a management company.
For Sale By Owner
For sale by owner, or FSBO, is an option to consider when selling a house you inherited in SW Florida. Often our emotions put an added value on a property, which has little to do with the realities of real estate valuation. Do a little research to see what similar properties to yours are selling for a good idea of what a fair market value is, that way you are not shocked when you realize the current market value of your home. Some people check out real estate websites, such as Zillow to get an idea of value. Sometimes that value is close, but it also can be way off. Hiring a real estate appraiser will give you a more accurate value, but it will cost $400 to $500. The benefit is that you can let buyers know that you have a current appraisal.
Real Estate Agent
If you do not want to be a landlord or live in the home you inherited, listing with an agent is another option to consider when selling an inherited house in SW Florida. You’ll need to upgrade and repair the home to sell for top dollar. That means the added expense and effort of cleaning out the home, painting, covering professional photography fees, marketing, and staging the home. Additionally, there are real estate fees and commissions, as well as closing costs. You can get top dollar, but it can be costly and you’ll have to pay for these items up front, before the home is sold. Plus, it could be months before the home is finally sold. However, you’ll be ahead of the game, no matter what when you finally sell your inherited property.
Professional buyers will take the time to listen to your specific circumstances and help you decide which of the possible options of selling your unwanted inherited property is best for you, even if that means listing with an agent. Selling a house you inherited in SW Florida to a professional buyer is often the best option for the property. Keep in mind, cash buyers with quick closings will probably offer you a bit less than average market value when selling an inherited house in SW Florida. This is because they save you from all the costs involved with listing a property. There is no prepping, upgrading, marketing, or any other of the costs associated with other options.
SWFL Homes LLC makes the process easy for you, with guaranteed quick closings with a firm offer, and no surprises at closing. We’ll handle the personal property, so you don’t have to worry about cleaning the house out. We work with auctioneers, estate sale companies and dealers. Please call us at (941) 999-3163 to discuss the market value of the property. Contact SWFL Homes LLC to learn more about what to do with your unwanted inherited house. We’re happy to answer any questions you may have, including how to handle an upcoming probate on the property in SW Florida. Give SWFL Homes LLC a call at (941) 999-3163 today!