How to Sell Real Estate After a Death in the Family Cincinnati
Selling Deceased Estate Property - Selling Real Estate as Executor
If you have inherited property, and are wondering how to sell Cincinnati real estate after a death in the family, we can help.
First, our condolences for your loss. We know this can be a difficult time for you and your family.
We buy Cincinnati inherited houses & probate houses.
We've worked with many people who need to sell a Cincinnati inherited house they've received as part of an Estate, via Wills, Trusts, and Probate.
We understand what you're going through, and can help you take the right steps forward.
Understanding Your Options: What to Do With a Cincinnati House You Inherited
Before you even think about selling your Cincinnati inherited house, you need to seek qualified counsel.
This is a legal matter, with a wide variety of potential pitfalls that will be nearly impossible to navigate successfully yourself.
Before you can even think about selling your Cincinnati house after someone passes away, there are a few legal matters that take precedence.
You'll need to be clear on vital questions like:
Is there a Will?
Is the property owned by the decedent, or 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,
Or end up paying tons of unnecessary fees & costs,
Or accidentally sell the property illegally,
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.
The Most Common Reason to Sell Your Estate Property After a Family Member Passes Away: Location.
Unfortunately, one of the most common issues you'll run into when inheriting a house in Cincinnati is dealing with an inconvenient property location.
As they say, the top 3 factors in real estate success are:
Location. Location. Location.
You might inherit a house that is too far away from your own home to travel and tend to it on a regular basis.
Or perhaps the house is in a location that would uproot your family or school district to relocate.
Or maybe you've inherited a house that is simply not in a location you want to deal with!
We understand. Multiple members of the CincyBuyer team have been through the exact process ourselves.
If location is one of the bigger issues you're facing, that is the perfect time to sell your inherited house to local real estate investor & cash buyer. Why?
Ask yourself, "Do I really want to be:
- Maintaining a house,
- Handling updates & repairs,
- Paying someone to take care of the lawn & landscaping,
- Coordinating with a local Real Estate Agent for showings,
- Dealing with all the other issues of listing your property...
... all while still being stuck with it for at least another 40 - 100+ days?"
Because that is exactly what you'll be doing, at the bare minimum, if you decide to list with a REALTOR or sell the house For Sale By Owner.
An inconvenient location is one of the most difficult parts of inheriting Cincinnati real estate, and can create a lot of other headaches as a result.
Another alternative would be to simply skip the additional stress, and sell the house fast, for cash, in as is condition.
You won't have to lift a finger, you'll be able to unload the house effortlessly, with cash in your pocket in as little as 2 weeks from this moment.
Deciding to Sell Your Cincinnati Real Estate After a Death in the Family
Once you're clear on being legally able to sell the inherited property, you'll still need to decide on the best path toward getting it sold.
In this situation, you have three basic options:
• Sell your inherited house "For Sale By Owner" or FSBO.
Selling your inherited house For Sale By Owner means selling your house without a Real Estate Agent. The biggest benefit of selling your house FSBO is the cost:
At least, it doesn't cost you the Real Estate Agent's commission (typically 6%).
However, if you stop to think about it, Realtors aren't getting paid their 6% cut for nothing!
There's a lot of research, marketing, paperwork, and contract negotiation that goes into selling your real estate.
If you don't mind handling all that stuff yourself (to save 6% on your final Closing price), then going the For Sale By Owner route might be right for you.
Keep in mind, you're likely going to need to make all necessary cleanup & improvements to your inherited house ... if you want to effectively market the property for sale and attract qualified buyers!
To be prepared before you decide to sell your Cincinnati house FSBO, check out our comprehensive 13 Point 'For Sale By Owner' Checklist.
• List your inherited house with a Real Estate Agent.
Similarly to selling your Cincinnati inherited house For Sale By Owner, when you choose to sell your house with Cincinnati Real Estate Agent:
You'll want to invest in all the necessary cleanup & improvements before listing.
Plus, throughout the entire time your inherited property is for sale (40 - 90+ days), it will need to be kept & maintained in showing-ready condition.
If your inherited property is in pretty good shape, needing minimal work or cleanup that you can easily manage, listing your house with a Real Estate Agent is one of the best choices.
The best part of selling your house with a Cincinnati REALTOR® is peace of mind.
A Real Estate Agent is required, by law, to represent you as a fiduciary: putting your interests above their own and abiding by a set of Standards & Code of Ethics sent down from the State Capital.
Your Real Estate Agent is a professional at selling properties!
The worst part about selling your house with a Real Estate Agent is twofold:
- It's expensive. You can expect to pay 6% of the total sale price to the Realtor.
- It's slow. A retail sale will require you to keep the property ready to show, potentially for 6 - 9+ months, to dozens of prospective buyers, many of whom will back out due to cold feet, financing issues, inspection concerns, or a host of other reasons.
A lot can go wrong working with a Real Estate Agent.
But, a retail MLS listed sale working with a Realtor is probably your best choice, if your inherited property is in good condition & well updated.
If so, and you decide to sell your Cincinnati house with a Real Estate Agent, you're going to need to pick the right one.
Some Agents are (a lot) better than others, so shop around.
• Sell your inherited Cincinnati real estate to local investors, as is, for cash.
At CincyBuyer, as local Cincinnati real estate investors & cash buyers, we're obviously a bit biased here.
However, there are pretty clear cut scenarios when it makes the most sense to sell your Cincinnati house to a local real estate investor, in as is condition, fast, for cash.
In fact, on our How It Works page, we outline 22 specific situations where someone's best option is selling to a local investor for cash.
To put it simply, here are the biggest benefits (and primary motivations) for why you might want to sell your inherited house as-is, fast, for cash to a local real estate investor:
- No waiting around. Whether you go FSBO or through a REALTOR®, a retail listing is likely to involve a lot of waiting around for the right buyer. Sell to an investor, and you might be signing the paperwork without a single in-person showing!
- No cleanup required. A local real estate investor will buy your Cincinnati house in as is condition. Save the cost of expensive updates & repairs, skip the home staging & cleanup.
- No REALTOR® fees. That's 6% right back in your pocket. Technically, selling to a real estate investor would be a type of FSBO, because you don't need an Agent. Don't worry, you'll still be protected on the Closing by working with a reputable local Title Company or Attorney.
- No hassles or drama. The retail listing process is full of nightmares like showings who no-show, tire kickers, low ballers, last minute mortgage denials, unexpected inspection fallout, and more. Show your property to one investor, get an offer, and close, as is.
- Fast, cash closing. Real Estate Investors aren't sitting around waiting for their FHA loan to go through. We close in all cash, usually in as little as 7 - 10 days from Contract-to-Close (compared to 30+ on average for typical MLS retail sales).
If convenience, speed, and skipping the cleanup & repairs sound appealing to you, please get started by filling out our Seller Form here.
We'll get back to you with our no-obligation cash offer to buy your Cincinnati house, as is, fast, for cash.
Sell Real Estate After a Death in the Family Cincinnati: Take the First Step Here
Deciding to sell your inherited Cincinnati real estate after a death in the family is oftentimes the best option.
We buy Cincinnati houses in as is condition, and can close fast for cash.
We've bought many inherited properties over the years, are familiar with the process, and can help point you in the right direction even if you don't sell to us.
If you'd like to find out what we would pay to buy your home:
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 ... 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: