Inheriting a house can come with a mixed bag of emotions. You’re likely grieving the loss of a loved one, and you may be inheriting property, including a home. Dealing with your loved one’s estate can be a long and stressful process, but by knowing what to expect beforehand, you can better prepare yourself to deal with the circumstances. If you’ve inherited a house and aren’t sure what to do from here, we’ve got a few tips to get you started
Create a Short-Term Plan
First, you’ll need to create a short-term plan as you decide what to do in the long run. How are you going to keep paying the mortgage, if applicable, and other bills like water and electricity as the estate gets sorted? Are there any siblings or other family members who have a stake in the home and what happens to it? Will you need to make repairs to the home before you can sell it or move into it? These are all important matters to consider in the short term before making any permanent decisions.
Think About Your Options
Once you’ve taken care of the immediate expenses, you must then decide what to do with the house itself. Typically, those who inherit a house have three main options: move in, rent the house, or sell the house. If the mortgage is already paid off on the home, you’ll have a bit longer to make this decision without worrying about that major expense.
If you decide to move in, the process is typically pretty straightforward, but it might not be the right time for you to move. You may decide to rent out the home, but then you’ll need to find tenants and take on the responsibilities of being a landlord. Finally, you can sell the home, but dealing with finding a realtor and navigating the real estate market is an entirely separate process that can be just as stressful as inheriting the house itself.
Consider a Cash Buyer
If you decide that selling your inherited home is the best course of action, you aren’t forced to list the home on the market. Working with a cash buyer often proves to be a much quicker, more convenient, and stress-free solution. Charm City Builders is a cash home buyer based in Baltimore, Maryland, helping homeowners sell their properties in weeks, not months. We’ll work directly with you to evaluate the condition of your home and provide a cash offer within
24 hours of meeting with you.
Regardless of the condition of your home, we can work with you to provide a cash offer, meaning you won’t have to deal with realtors or repair companies. Once you’ve gotten your offer, we can set a quick closing date, often within just a couple of weeks. If you’ve inherited a home in the greater Baltimore area, we’d love to see how we can help you. Contact Charm City Builders today to learn more!