If you’ve inherited a property and you’re planning to sell it, make sure you read this blog post from ATL Cash Home Buyers for 3 tips about how to price your inherited home in Atlanta for sale…
Did you inherit a property that you’re now thinking about selling? While an inherited property can be a wonderful gift from a loved one who has passed on, it can also (quite frankly) be a costly burden. The holding costs for a home can quickly amount unless you’re able to find a renter to put in place. Even more, finding a reliable renter can be even harder as unreliable ones can be extremely costly! So, in a lot of instances, selling the house makes sense and allows you to use the gifted equity for some other purpose. But selling an inherited property may not come easy to you, especially if you haven’t sold a property in a while. At ATL Cash Home Buyers, we love to help, so here’s how to price your inherited home in Atlanta for sale…
Tip #1: Price Quick To Sell
Some people price their inherited property at an amount they think the market might pay for the house. However, there are many factors that go into this price and one of the biggest considerations is: how fast do you want to sell? Selling through an agent “on the market” can take months, and you’ll have to pay for the house and maintain the property the entire time. Though you can fetch a higher price for your home selling with a real estate agent on market, the amount of time to get it sold can eat away a chunk of the profits if the home isn’t in pristine condition. These are typically the only homes that sell quick on market.
Many property owners quickly learn that they’re almost better off to price slightly lower for a faster sale… they might get less for the house but they also pay less on repairs, carrying costs, effort, and time, so it’s ultimately a trade-off that might turn out to be a total wash. Exploring the option is definitely worthwhile and doesn’t harm you either way. We strongly recommend that if you’re trying to sell a home that you just inherited, that it makes sense to weigh all of your options before assuming that going on market makes most sense. If you’d like more information or how to price your inherited home in Atlanta or even get a quote, you can call ATL Cash Home Buyers at 404-439-9984, or click on this sentence to get taken to our website where you can put in a couple quick bits of information and have someone reach out to you!
Tip #2: Avoid Pricing Based On Fond Memories Or Emotion
One of the biggest challenges that property owners of inherited property face when trying to price their property for sale is separating the happy memories from the true value of the house. The house might be worth a certain amount on the market but you may have such fond memories of growing up in the house or of happy times in the house that you accidentally use that emotion to increase the price. (This is VERY common.)
A better approach would be to work with a real estate company and find out what they can offer you, and recognize that the price might be lower than you were expecting… not because the house isn’t worth as much but because your wonderful memories have accidentally inflated the price! Having a real estate professional, like ATL Cash Home Buyers, run market analysis on your home and assess how much in repairs will be needed to obtain the highest price possible, is something we highly recommend. Most professionals have access to several different platforms that will give you accurate information on what you can expect. Even if you don’t sell your house to us, we still don’t mind helping.
Tip #3: Build In Discounts For Repairs
If you inherited the property from a loved one who had lived in the property for many years, then you might find out that the property needs some repairs or general updates. Let’s face it, our older family members don’t like too much change. Now, you could choose to do this work yourself and then ask for a higher price. That’s a great route if you have the time and money to do this as you could potentially make some good money. But what if you don’t have the money to fix it up or don’t have the construction knowledge to do it yourself? Heck, why even repair the home in the first place when you could save yourself the time and effort (and what you’d have to pay for equipment, supplies, or a contractor). Instead, just ask for less and give a “repair discount”. That way you avoid the hassle of the work, and you still come out the same financially. It’s not a quick process to renovate a home, especially if you have another job. You’ll never get done and you will have wasted all your time and all of your potential profits.
Summary
An inherited house can be a lot of work so if you’re thinking of selling it, you’re certainly not alone. We hope that this article has been helpful and that these tips from us at ATL Cash Home Buyers will guide you on how to price your inherited home for sale.
Why not bypass all the work and cost of selling through an agent and instead get in touch with us today about selling your inherited property to us here at ATL Cash Home Buyers? Just call us at 404-439-9984 or click here and enter your information in the form.
