Inherited homes can be both a blessing and a curse. A home is most often inherited after a loved one passes away, so it isn’t usually a cause for celebration. A parent or relative has left you their most valuable possession—their home—but it isn’t always the home you dreamed of owning.
On the other hand, you may feel very attached to your inherited home. It may be the home you grew up in or that your parents or grandparents lived in for decades, full of fond memories and family heirlooms. But your inherited home can still pose a number of problems: you may want to move in but already own a home, living there might require your family to relocate, you may not be able to afford the property taxes and other expenses, or you may not be prepared to deal with managing it as a rental property.
A bigger problem that’s common in inherited homes is that they are often in need of massive repairs, especially if you inherited the home from an elderly person who was unable to keep up regular maintenance or couldn’t afford to hire someone to make necessary repairs. You may have inherited a rundown property that isn’t suitable for living in, renting out, or selling the traditional way.
The majority of inherited homes are listed for sale on the real estate market, since one of the above issues usually prevents the new homeowner from being able to live in the house themselves. If you’ve inherited a home in need of multiple costly repairs that you can’t afford, your best option is to sell the home to a homebuying company. A homebuying company will buy the home as-is in a short timeframe, allowing you to get the proceeds of your inheritance without any hassles.
Are you ready to sell a home fast? Call us today at (877) 804-5252 to get an offer in hours from Express Homebuyers.