How to Sell a House You Inherited Cincinnati
Sell Inherited House Cincinnati, Ohio - Sell Estate House - Sell Probate House
Did you recently inherit a house after a loved one passed away? We can help you sell a house you inherited in Cincinnati, fast & painlessly.
First of all, condolences on your loss. We know this can be a difficult time.
Now, let us help make it easier, by giving you a way out.
Sell your Cincinnati inherited house fast, in as is condition, to a local cash buyer & established real estate investor.
Sell Inherited House in Cincinnati OH: How It Works
First of all, you will need to decide that you indeed want to sell your inherited house.
You might also keep your inherited house as a residence, or perhaps as a rental property.
Once you're sure you want to sell, there are several aspects to getting your inherited property listed and/or sold.
Getting Some Professional Advice: Understand Your Options on Selling the Inherited House
When you've inherited Cincinnati real estate, there are a few legal matters that take precedence:
- Is there a Will?
- Is the property owned by the decedent?
- Is it owned in a Trust, a Partnership, or Corporation (LLC, C or S Corp, etc)?
- Will the property be going through Probate?
These are the critical legal matters for which you will need to consult a specialized attorney.
There is no substitute for qualified legal representation!
You don't want to:
- lose the house,
- end up paying tons of unnecessary fees & costs, or
- leave the property tied up in Probate for years longer than it might have needed to be.
Choosing the Best Cincinnati Probate Attorney
For any of your Estate Planning, Probate, or other matters related to inherited real estate, here are a few of our verified local recommendations:
Any of the above are highly qualified & can help you get through the Estate, Probate, Will, and Real Estate Transfer processes.
Do You Want to Fix Up & List, or Sell The House As Is?
When someone passes away, usually their home will require a comprehensive clean out, updates & improvements to be ready for typical MLS Listing on the open market.
Just the cleanout & improvements alone can take months, and cost tens of thousands of dollars!
Listing the house will get you a higher final sale price (hopefully)...
But an MLS Listing to sell your inherited Cincinnati house will be expensive, and will take a long time.
On the other hand, you could consider selling your inherited house fast, for cash, in as is condition, to a local real estate investor.
Let's examine some scenarios:
- When it would make sense to clean up, repair, and list your house,
- Times when you would be better off selling the house as is.
When to Sell Your House As Is: Skip the Repairs & Just Sell the Place.
The most obvious time to sell your house that needs work, in as is condition is:
When you can't afford the time and/or money to do the repairs!
Maybe you would get more for the house if you handled the repairs or improvements, but sometimes your time or money right now is more valuable than all the investment & headaches it would take to fix the place.
If you can't afford the repairs your house would need, or you'd rather just skip the repairs & upgrades to save yourself the time and effort, Sell Your Cincinnati House to Us!
Another Scenario When You'd Choose to Sell Your House As Is (And Skip the Repairs).
If your house needs only minor cosmetic improvements, like:
- a new coat of paint,
- new light fixtures
- new appliances, or
- new carpeting,
you might consider skipping the work & selling your house as is.
Especially in a hot market, Buyers don't necessarily mind making minor cosmetic improvements on a house, since they are likely to want to customize these features anyway.
The biggest problem that still remains on a retail listing is:
Even minor cosmetic issues will detract from the number of prospective Buyers, and will likely pull in a lower final sale price.
That's why it's also important to weigh your options, and consider potentially handling the work before selling.
Fixing Up Your Home Before Selling: When It Makes Sense to Do the Work
To decide whether you'll fix up your home before you sell, or sell your Cincinnati house that needs work in as is condition, ask yourself:
What work does your house currently need?
If your house needs any major systems repaired, replaced, or upgraded, then you'll be losing a lot of potential buyers (significantly reducing your sale price) trying to sell it as is.
For example, if your house needs:
- a new roof,
- new HVAC systems,
- new utilities, or
- foundation repairs,
then your potential buyer is not only going to discount the cost of the repairs - they'll be discounting the price of the inconvenience too.
And inconvenience costs.
Let's say your house, in perfect condition, aka its "After Repair Value" or ARV, is worth $100,000.
ARV = $100,000
Let's say you need a new roof that will cost $15,000.
Because a Buyer will factor in the potential headaches & hidden costs (not to mention the notable inconvenience) of buying a house that needs such a major system repaired:
You probably wouldn't get any offers above $75,000, even though the ARV minus the Repair Cost is actually $85,000...
Cost of Repairs = $15,000
Loss by Selling As Is = -$25,000 (or more)
Worse yet, a house that needs a new roof (or any major systems repaired or replaced) is probably only going to get offers from investors or handyman fixer-uppers.
You'll be limited to Buyers who are already focused on getting a good deal & the lowest price possible.
In this instance, if your house needs major repairs, it makes sense to handle them yourself, because:
These types of major repairs will cost you less than you'd lose by selling the house in as is condition.
In other words, it makes the most sense to fix up your home before selling when it needs such major repairs that you'll be scaring away most buyers by trying to sell it as is...
(Forcing you to accept a much lower purchase price as well).
Of course, if you:
- can't afford the repairs, or
- don't have the time & energy for substantial home improvement projects...
Sometimes it's better to just cut your losses and sell your inherited house fast, in as is condition!
We buy Cincinnati houses for cash, as is.
No repairs or improvements necessary.
Selling Your Inherited House in Cincinnati, Ohio: Take the First Step Here
Deciding to sell your inherited house in Cincinnati is oftentimes the best option.
We'll get in touch with a ball-park offer of what we can pay to buy your house, plus since we'll be paying cash...
We can generally close within 2-3 weeks of our first interaction!
That said, we'll be the first to admit that selling to an investor like us is not for everyone.
While our way is faster, easier, and more efficient than any other option ... just like anything else, there are some down-sides as well.
To learn more about the many reasons why someone like you would (or would not) choose to sell your inherited Cincinnati house to us, check out our: