Home ownership just isn’t what it was in the 1950s.
In the past, people would buy their forever homes to live there for the rest of their lives. And not only that, but they often pass it on to their family members. Owners knew that their homes were an asset and that they wanted to pass on what they could to their families, but things have changed.
Many first-time homebuyers are now going into it with the thought of their first home being just that….their first home, not their forever home. They’ll use it to gain some appreciation and equity to put toward their future home. So, for those of you that were fortunate enough to have a home passed onto you from loved ones who cherished their homes and initially bought these properties with the mentality of keeping them as their forever homes, then chances are you have a very sweet, older home on your hands that is guaranteed to be full of memories which is probably why you’re trying to figure out how to sell your inherited house.
But older homes with lots of memories usually come with the necessary upgrades and potentially even a list of repairs. These properties may need more work or updating than you can handle and you may not be sure what to do next. If your home does have a lot of necessary repairs that would need to be made prior to selling, you’re probably trying to weigh out the options on fixing it yourself. Check out our blog going just that, should you make repairs to your home before selling?Â
We get calls like this all the time where the homeowner has inherited a family property that needs too much work for them to handle themselves and they need to just sell it as is. If this is you, we can help!
How To Sell Your Inherited House To An Investor in Dallas
One option that many homeowners are turning to is selling to a real estate investment company like North Texas Cash For Homes to buy your house from you. When you’re asking yourself how to sell your inherited house, we are highly experienced when it comes to helping heirs through this situation.
Independent investors, like us, typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them to a new family to make new memories in. Dallas has numerously reputable and trusted real estate investment companies that can help you sell your home quickly.
Selling your house to an investor is relatively simple.
You provide the company with information about your home and personal situation.
The investment company will then come out and inspect the home to determine a value after taking into account any necessary repairs, and then make an offer. If the offer works for you, you’ll sign a state-promulgated contract with the real estate investment company, and a few days or so later you’ll close (sign documents) with a local title company, and receive the payment for your house in cash (technically a wire or cashiers check). All of this can happen within 7 days if you want to close that fast. But of course, we can extend closing out longer if you need more time. Not everyone wants to close in 7 days and that’s Ok.
How Fast Can You Really Sell Your House To A Local Investor?
This process is extremely quick compared to more traditional methods, often taking just 7-10 days (as long as the title comes back clear, but that’s a topic for another day). Really!
The only issue that could potentially push the closing back is if there are any title issues or if the home is currently in probate. If you’re curious to know how to sell your inherited house while in probate, then read our article to find out more details.Â
If you need to sell your house quickly with little hassle, selling to a local Dallas real estate investment company is a great option.
When you work with a real estate investor there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.
Keep in mind that you won’t find any real estate investment companies out there that are buying at full retail value. We are often looking to purchase houses at a reasonable discount from the market value of the house. This allows us to fix up the house if it needs repairs and then later sell the home to another homeowner while making just enough profit to ensure that the company is able to continue running an ongoing business of helping the community by buying houses from other people that are needing to sell their house quickly, as is, or by buying houses that need more work than the owners can handle.
The Hidden Costs Of Waiting To Sell Your House
Many people don’t consider the hidden costs of holding onto a property.
Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. By selling at a slight discount, you could potentially end up with a larger sum in the long run.
By selling your home to a local real estate investment company, you’re saving yourself several possible months of headaches, and you can quickly move on to your new home or life venture. You’ll avoid expensive fees and even expensive closing costs.
Give us a call or fill out the form to get a cash offer for your house! What could it hurt?