Thinking about selling your inherited house? In this blog post, you’ll read about the 4 no stress tricks for preparing to sell an inherited property in San Francisco Bay Area so you can sell it easily, with no hassle.
Selling a house can be frustrating, time-consuming, and even expensive.
And if it’s an inherited house, it can be even worse!
So if you want to sell your inherited property without all the hassle, here are 4 no stress tricks for preparing to sell an inherited property in San Francisco Bay Area…
No Stress Trick #1 Plan
Most people who sell a house just decide to sell without thinking through what that looks like.
- budget for the ongoing expenses and any repairs needed
- allow for repairs taking “at least” half as long as you think (honestly, these projects ALWAYS run over in cost and time!)
- allow for the listing taking a long time (this depends on many factors – market, your property etc etc but be conservative and have reserves to cover at least 6 months)
- have a contingency if the real estate agent can’t find a buyer. Nothing is worse then an agent shrugging their shoulders and pointing at the market. It feels helpless because it makes you feel like it’s your fault or there are no options – re-frame the scenario before you get there.
I know it can seem stressful if you have to plan these things but if you’ve already thought about them, you’ll eliminate a lot of stress by avoiding a “crunch” of decisions which all have to be made at the same time. As the scout’s like to say – BE PREPARED!
No Stress Trick #2 Be Informed
Do you know what the process is to sell?
- There will be open houses with potential buyers coming through your home – clean, declutter and organize!
- If all goes well there may be offers, (negotiated, accepted, withdrawn)
- Then inspections, waiting for reports and sometimes requests to fix things up.
- If you get this far there can be further waiting for banks – issues can come up with financing that no one could foresee. Even at this late stage a sale can collapse due to finance contingencies.
Do you know how long it will take?
- Allow 1 month in a HOT HOT market sliding out to 3-6 months as things cool. Longer where things just do not go right.
Do you know how much it will cost you?
- Allow 6% for real estate agent fee
Is it even a good time to sell? Who is buying right now?
- look at “inventory” in your market and “average days on market”. Any agent can tell you this and usually this information can be picked up from zillow or redfin for example.
Do some research ahead of time and ask all these questions to get informed about selling.
The more information you have, the better.
No Stress Trick #3 Get Consensus
If multiple heirs own the inherited property, you’ll want to gather your research and then talk to each heir to get a consensus.
Nothing is worse than starting the listing process and trying to sell your property only to be stopped in your tracks by an heir who wants to go in a different direction with the property.
No Stress Trick #4 Work With A House Buyer
Actually, you can skip a lot of the legwork and hassle by selling directly to a house buyer. . A house buying company (that’s us here at Liam Buys Houses) is the simplest, fastest way to put cash in your pocket because they often buy houses fast, for cash, and in as-is condition… and are experts at dealing with any of the challenges with titles, liens, multiple heirs, etc.
So one call to a company like ours is the best no-stress trick! (Yes of course I would say that but it really does reduce the hassle factor and time delay!)
These 4 no stress tricks for preparing to sell an inherited property in San Francisco Bay Area will help you finally deal with that inherited property without the hassle and stress!