3 Financial Options You Can Pursue When Selling an Inherited Property

Dated: 07/09/2018

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3 Financial Options You Can Pursue When Selling an Inherited Property

By Jimmy D. Williams on December 1, 2017 

 If you have inherited a property, and are thinking about selling it, you have more options than you realize. Read this blog post to find out the three financial options you can pursue when selling an inherited property.

 

When your loved one passes, and leaves you with a property, it is most certainly a meaningful gesture. However, the truth of the matter is that an inherited property is not always convenient to own. There are the additional bills, needed improvements, upkeep, and the stress of tenancy, not to mention time consuming.

 Therefore, if you are thinking of selling, it is important that you hire the right Realtor® that will ease the selling process, and net you the highest and best offer. At The People’s Realty Group, we specialize in helping recipients of inherited properties with their liquidation.

 However, as a recipient of an inherited property you have 3 additional financial options that you may want to consider in the process. These 3 financial options will help you greatly when selling an inherited property in Dallas/Ft. Worth!

 When Electing to Sale, It is Always Wise to Hire a Professional Realtor®…

When deciding to sell the property, it is always wise to hire a professional Realtor® to protect your interests. However, in doing so, in some cases, you can expect expenses involved with repairs and rehabilitation to the inherited property, that are necessary to maximize its salability, In addition, you must account for the selling expenses.

The additional options available to you include:

Option #1. Refinance

This similar to selling! However, in refinancing the property with a bank, you can use the equity for other projects, such as small business working capital, investment in rental properties or college tuitions or debt retirement. Again, this like selling, except you are instead you are choosing to maximize the inheritance at a reasonably low cost interest rate. You can rent the property, and simply let the rental income pay the mortgage.

Option #2. Rent to Own

Another option is to sell the house over the long-term by selling to a tenant. Typically, this option helps tenants who incapable up obtaining a mortgage, but want to own a house. They will pay you rent, and over time, buy the house (I.e., Either by paying you an additional amount above their rent that will go toward the purchase of the property), or attain the qualification for a mortgage.

Option #3. Sell Fast for Cash

Lastly, one expedient option that owners of inherited properties exercise is to sell the house fast for cash. Instead of selling through an agent (and hoping they can find a qualified buyer, which can take months), you can work with a house-buying company (I.e., The People’s Realty Group), and usually in as little as a few days, sell the property hassle free. It is fast, simple, and does not require any repair work or commissions.

These are 3 additional financial options available to you when seeking maximize an inherited property. For more information, feel free to contact Jimmy D. Williams directly at 469-217-7188 or via email at [email protected].

 Jimmy D. Williams is a highly skilled real estate negotiator, and acquisition specialist, with over 16-years of experience in the Texas and Southern California real estate markets. A Certified Investment Agent Specialist (CIAS®), Jimmy uniquely approaches each new challenge with its own tailored solution to ensure the desirable results sought by each of his individual clients. He does this by maintaining a strong commitment to his high level of customer satisfaction, and loyalty. Call him today!

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Jimmy Williams

Jimmy D. Williams is a successful Realtor and Real Estate Investor, who specializes in real estate acquisition and profitable liquidation. Working with Sellers, Buyers and Investors, Jimmy collaborate....

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