Family members or close friends commonly enact a will leaving their property holdings to their next of kin. Inheriting a home is quite common, yet the property is often unwanted or unexpected. Leaving a recipient holding what is often an unaffordable property, due to upkeep, property taxes, and any homeowners or property owner’s association fees. Here are 5 tips for selling an inherited house in Pensacola.
Prepare for Probate
An inherited property will likely have to go through the process of probate, depending on how the property was deeded. Local and state laws vary in the matter of an inherited property. Even if the property has completed one probate process, there may be additional probate required within the county or state of the property. Being prepared in advance to handle probate is a good tip for selling an inherited house quickly in Pensacola.
Owner Financing
If you can afford to sit on the property for the typical three-year period of a rent-to-own agreement, you may wish to investigate this avenue when selling an inherited house in Pensacola. You’ll also need to be prepared for the added demands of being a landlord. Unless your inherited home is brand new or in like-new condition, you may be spending thousands on repairs throughout the time that the property is still in your name.
For Sale By Owner
For sale by owner, or FSBO, is another option to consider when selling a house you inherited in Pensacola. Often our emotions put an added value on a property, which has little to do with the realities of real estate valuation. Do a little research to see what similar properties to yours are selling for to have a good idea of what a fair market value is. For more information on listing you property as For Sale By Owner, check out this article: https://www.webuysouthernhouses.com/customer-market_city-fsbo-property-listings/.
Real Estate Agent
If you don’t want to be a landlord or live in the home you inherited, listing with an agent is another option when it comes to selling in Pensacola. Listing your house on the real estate market with an agent usually means prepping to bring the home to market standards, which may include upgrades, serious repairs, professional photography fees, marketing, and staging the home. You may also face real estate fees and commissions, as well as some closing costs.
Professional Buyers
Professional buyers will take the time to listen to your specific circumstances and help you decide which of the possible options of selling your unwanted inherited property is best for you, even if that means listing with an agent. Selling a house you inherited in Pensacola to a professional buyer is often the best option for the property. Keep in mind, cash buyers with quick closings will probably offer you a bit less than average market value. This is because they save you from all the costs involved with listing a property. There is no prepping, upgrading, marketing, or any other costs.
Southern House Buyers makes the process easy for you, with guaranteed quick closinga, a firm offer, and no surprises at closing. Please call us at 2513337556 to discuss the market value of the property. We’re happy to answer any questions you may have, including the potential probate on the property in Pensacola, FL. Give Southern House Buyers a call at 2513337556 today!