“I need to sell my inherited house. Fast!”
When you inherit a house and you want to sell it, there are two ways to go. You can sell fast to an investor or you can take your time and list it with a Realtor.
First of all, please note that if the estate is going through probate, you do not usually have to wait for the whole probate process to be completed. You can usually sell the house and the cash proceeds from the sale can go through probate depending on the value of the home, the court may need an appraisal.
But back to Investor or Realtor.
The Investor buyer is either going to offer you an all-cash transaction that pays you all cash on the day of your choice or you might get a slightly higher offer price that would be on terms with payments made to the estate. Here at kcmoHomeBuyer.com, we prefer the all-cash option as most sellers just want their house sold.
You could also list with a Realtor, but there your payment might be one of the two above if it sells to an investor, but you have to pay the Realtor commission out of however you get paid. And quite often, going the Realtor route, the buyer is getting a loan and that is about a 45-day process and could cost you more money if they need repairs made to get the lender to make the loan.
Selling “As Is”:
This is probably the best benefit to selling to an investor like Kim or Scott here at kcmoHomeBuyer because we buy houses “as is”. This means you don’t have to repair, clean, or stage your house. You have no work involved on your part, sign the contract and go to closing. We clean it out, we clean it up and we fix it up – that’s what we are in business to do.
With a Realtor, you can also sell as is, but typically most agents are going to want you to at least clean it out and clean it up so it shows the best.
With an Investor, you can usually get the property closed, get your money and go on with your life in as little as 7 days. With a Realtor you typically have 1 to 2 months “getting ready”, unless they will list it as is. Then you have 1 to 2 months or longer finding a buyer for it. Then if the buyer is getting a loan, another 30 to 45 days.
Yes, when you sell to us, we are in business to make a profit. We are stepping in your shoes and will have to spend the time and money getting it ready to sell. We will be paying the upkeep for the 3 to 4 months it takes to turn it around. So we do buy at a discount.
Remember we are buying fast for cash, we often pay your closing costs as well as our own, we pay for the repairs, often we pay back taxes, plus the holding costs.
You do need to be aware that there are scam artists out there posing as investors and others who are just so new to this business that they do not have the cash or the knowledge of how to do the deal. They usually will want to put your house under contract, often without any negotiation, paying you whatever you are asking. Then they take the next 60 to 90 days to try to find someone who will buy the house from them. When they can’t, because they are paying you too much, they give up and back out of the contract.
So when you have inherited property and you need to move it quickly, you might consider an investor. You can make the phone call, show the house, write the contract and get the money in a matter of days. Now if you have the time and the man power to clean it out and clean it up, and the time and the money in the estate to wait out a Realtor listing and pay for inspection repairs, then by all means work with a Realtor, we are partial to our sister company Realty Resource as they know how to list a less than perfect house and get it sold fast.
When you are ready to sell, or if you just want an idea of what we might pay you for your inherited house, click here to submit your property information. We will get back with you to discuss options and set up a time to come see it. Or you can give us a call at 816-800-9044.