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If you’ve inherited a property and are considering selling it, you might have more options than you think. Check out this blog post to discover three financial options you can pursue when selling an inherited property in Central Texas.
When a loved one leaves you a property, it can be a meaningful gesture. However, inheriting a property isn’t always convenient. It comes with extra bills, expenses, maintenance, and upkeep, which can be stressful and time-consuming.
If you’re thinking of selling, your first thought might be to use a real estate agent. However, you might be surprised to learn you have other options to consider. In fact, there are three financial options you can pursue when selling an inherited property in Central Texas.
First, Let’s Talk About Selling Through An Agent…
Selling through a real estate agent is perfectly fine, but be aware that they might require you to fix up the inherited property first. Additionally, you’ll have to pay closing fees and a substantial agent commission. This process can also take months, which some people find too lengthy.
So, what are the other options?
Second, Let’s Look At The Other Options…
Option #1. Refinance
One option is to refinance the property with a bank and use the money for other purposes. Although you’ll still own the house, this is a financial strategy some people consider if they need funds but aren’t ready to sell the property outright.
You can still use the house or rent it out, but you’ll need to repay the loan to the bank. This is one option to consider.
Option #2. Rent To Own
Another option is to sell the house over the long term by selling to a tenant. These tenants usually can’t get a mortgage right away but want to own a home. They will pay you rent, and over time, they can buy the house. This can happen either by paying an extra amount above their rent that goes toward the purchase or by waiting until their credit improves so they can get a mortgage.
Option #3. Sell Fast For Cash
A lesser-known option for owners of inherited properties is selling the house quickly for cash. Instead of waiting months for an agent to find a buyer, you can work with a house-buying company (like us at LJE Property Solutions Buys Houses). They often buy your house as-is for cash, usually within a few days. It’s a fast, simple, and hassle-free process.
There you have it! 3 financial options you can pursue when selling an inherited property in Central Texas!
Thinking about selling your inherited property fast for cash? We can help! Click here now and fill out the form our call our office at 512-230-3469.
Frequently Asked Question
Maybe you have a few questions. That’s okay, most people do. So, are some questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. We are professional home buyers: We buy houses in Central Texas that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner, partner with one of our fellow investors or keep it as a rental ourselves.
Q: How do you determine the price to offer on my house?
A: Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.