First, we’re very sorry for your loss. Inheriting a house after the death of your loved one can be very challenging for you. Dealing with property ownership at such a time can make this time even more difficult.
Now you may be confused about what to do with your house. “I Inherited a House” Should you sell it or rent? We are here to help you make a sound decision. We are experienced investors in Palm Beach County real estate, and we want to buy a number of houses each month in Palm Beach County area. The info can help you with some tips on how to sell your inherited house
I Inherited A House, What To Do Next?
Make sure the mortgage is paid
This is obvious but extremely important. Unless the mortgage has already been paid, this is your first priority if you want to keep the house. While some banks will allow you to continue with the old loan, some may force into a new one. Renting is not an option for you if you don’t qualify for a new loan.
The investment is only as good as the manager
Dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management can get quite difficult. You can either hire a professional to help you or just get out now. Renting out inherited property is a great idea but it comes with property management and dealing with tenants and repairs.
Property ownership costs money.
Obviously the building will not be in perfect condition and might even need major repairs. A professional property inspector will give you thorough plan for the next five years and the estimated costs. This way you can avoid any nasty expensive surprises.
Selling a property for top dollar costs money.
If you don’t want to deal with hassle of repairs, updates, improving landscapes and scrubbing down the entire place, then don’t worry. We buy Palm Beach County houses for cash, as-is.
If the market will continue to grow faster than your other options, hang on to the investment.
It is important for you to know the value of your house. We can help you with that and compare it to the long-term benefits of renting it. If you can find a way to make better than that what real estate market can offer you, then take that option. If you need the money and the value of the house will rise in the future, then wait and invest in real estate.
Uncle Sam wants a piece of the action.
Before you take any action, meet with your inheritance tax and legal professional. There are major property and income tax consequences that greatly impact the value and cost of your investment.
Consider all your options.
We can also help with a lease-option agreement. This allows you to rent and sell at the same time. This option appeals many as it gives them both options. But it can be complicated. Our Palm Beach investment experience can help you win.
Compare a few scenarios.
It is best to look at some other scenarios before taking action. We can look at properties near Palm Beach. You can look at what the highest prices in the markets and see the potential value of keeping it as a rental, along with the costs of renting it out.
Just call us today at 561-370-8335 or contact us now for more information
on how we can make you a fair cash offer on your inherited house today!