What Do I Do With Inherited Real Estate?

Inheriting a home can be a touching remembrance of a beloved family member

, but as the heir, you may regard the gift as a mixed blessing. As much as you want to keep the home in the family, there are a number of reasons why you might want to sell it quickly. Selling your inherited house to a company that buys property can be an effective solution.

Why you might want to sell

*You may already own a home and have no interest in moving into Grandma's place. Though being a landlord might be lucrative, you are not at a place in your life where you want that responsibility. Maybe you are a young professional who loves apartment or condo living, so you consider a big old house to be a burden.

*Maybe Uncle John left the home to you and your siblings. No one wants it, but everyone wants his share now. Selling it is the only way to divide the asset. Alternatively, your late uncle left considerable debt that must be resolved, so selling the home is the best way to clear up the estate.

*Though Aunt Millie loved her home, it may be in poor condition. You may hate it. In a challenging real estate market, fixing it up and selling it may be a burden you do not want. You have no way to gauge how long it will be on the market, how long your investment in repairs will be tied up, and whether your renovations will even be recouped.

*If the home belonged to someone close to you, you might find it hard to live there. You do not want daily reminders of your deceased loved one, and you can hardly deal with preparing the home for sale. You want and need to quickly sell the home.

A quick solution you can live with

If you decide that selling your inherited home is your best option, selling to a company that specializes in buying houses is a quick and reliable solution.A simple call will get the process started for you; if you decide to proceed, your sale will close within seven days or less. Will you receive top dollar for the home? The check you receive will be lower than if you put the home on the market. However, you receive a fair offer for the home in as-is condition so you can move on.You do not have to invest your scarce resources of time and money in preparing the home for sale or in waiting for a resolution.

by: Brad Chandler

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