Selling an Inherited Home to a Cash Buyer
Here's What You Should Know
You’re probably thinking, “What is an inherited home?” Let’s take a look at this term. An inherited home is a home that has been passed down to you via a family member and is now in your possession. Yes, you read that right. It sounds simple enough, but it happens all the time. But what do you do with it? Of course, you can keep it, but then maintenance cost might be overwhelming. Then there's selling the house, but how do you plan on selling it? A better question might be, "Is the property ideal for a cash buyer?
In many emerging markets, cash buyers are more common than some people think. As a result, it’s becoming more common for people to sell their home to cash buyers. But while this may seem like a simple process, there are several things that you should know. Here’s what you need to know if you’re planning to sell your home to a cash buyer.
What to Know Before Selling an Inherited Home
Before you sell your inherited home, you should be aware of a few things.
First, there are laws in place that govern the process of selling a home. Knowing these laws will help you make sure that you don’t unintentionally break any of them.
Second, you need to understand that selling a home to cash buyers is a process. This means that you will have to find a cash buyer and complete several steps.
Finally, you should be aware of the potential risks of selling your home to cash buyers.
Why Sell a Home to Cash Buyers?
Most people think of cash buyers as a recent phenomenon. However, cash buyers have been around for a long time. In fact, some research shows that cash buyers have increased in popularity over the last 10 years. There are a few reasons why this might be the case.
First, as stated above, cash buyers are more common than some people think. As a result, it’s becoming more common for people to sell their home to cash buyers.
Secondly, cash buyers close faster than traditional listing. Cash buyers close on average around 7-14 days, unlike traditional listing which can take as long as 90 days.
Thirdly, unlike traditional listing, cash buyers take the home as is. This means no repair or inspection costs for you.
Lastly, and more importantly, there are no hidden costs or realtor fees with cash buyers. Unlike traditional listing, cash buyers normally cover all closing fees. This means whatever the price that's negotiated is what you'll receive.
Once you find a cash buyer, and you want to sell your home, one of the first steps of the process will involve negotiating a price and other terms with the cash buyer. You’ll also have to make sure that you complete the correct legal steps to sell your home. Don't worry. Cash buyers such as Waymon Investments assist you throughout this process. If you're interested in learning more details or in scheduling a home visit, contact us.