The Pros and Cons of Selling an Inherited Property Through a Realtor vs. a Cash Home Buyer
Inheriting a house has several benefits, one of which is that you can save between $3,000 to $4,000 a year on property tax. But, there are other benefits if decide you don’t want to keep the property.
Another option is to sell your inherited home by either using a real estate agent or selling the house to a cash home buyer. How do you know which option is best for you? There are pros and cons to both.
Read this guide to make the best decision according to your needs.
Selling an Inherited House Through a Realtor: The Pros and Cons
When selling an inherited house, you are often caught off guard because you gained possession of the house unexpectedly. You suddenly have two homes and are unsure if you can manage them both.
If you feel overwhelmed, then one way to resolve the situation is by hiring a realtor to sell your home. But, before you make this major decision, there are some pros and cons to consider.
Using a real estate agent is common for many home sellers who have time to go through the home-buying process. It is a popular way to sell your home for several reasons, including:
- Personal Relator – You get someone working directly for you to get you the best offer, help with negations, stage your home, show your home, and handle closing processes.
- More Money – The relator ensures that you get close to the market value of your home by preparing your home for buyers and marketing the best selling points of your home.
- Who Owns Your Home – You know who will be buying your home so you can be sure it will be taken care of after you sell it.
- Good Selling Condition – You leave your home knowing that it will not be torn down or left in ruin because repairs and inspections are needed to sell through a realtor.
Cons To Selling With An Agent
While you may get personal expertise using a real estate agent, it isn’t always the best option. Although you can get more money for your house, does come with some cons, including:
- More Time- The average time to sell a home in November 2021 was 71 days, which fluctuates according to the market.
- Mortgages and Financing – If the house isn’t paid off, then you need to deal with banking finance to settle mortgages.
- Commissions and Inspection Fees – Real estate agents charge a commission for selling your home. You also need to pay for the cost of a home inspection.
- Repairs – Your contract will include the necessary repairs before you can sell your house, or this amount can be deducted from the price of the home.
- Can Be More Complicated – When selling with an agent, if you are selling with multiple family members, the process can get bogged down once real estate agents get involved.
Selling an Inherited House to a Cash Home Buyer: The Pros and Cons
After people inherited a house in Southern California, they had to sell it quickly to avoid taking care of two properties. To do so, it is essential to use a home cash buyer to avoid delays, however, there are pros and cons to this process as well.
Pros Of Selling To A Cash Home Buyer
An inherited home sale should be simple so that you can move forward, especially if you have an emotional attachment to your home. Luckily, there are many pros to this process that include:
- Sell in Any Condition – Your inherited property doesn’t have to be in livable condition for a home cash buyer to give you an offer.
- No Repairs or Cleaning – You can leave the house as is when handing it over. The buyer takes care of the repairs and cleaning tasks as well as the costs.
- Avoid Financing – Because you are selling for cash to a home buyer and not the owner, you can sell it without going through a bank or settling a mortgage.
- No Inspections or Showings – You don’t have to show your home to anyone except the home buyer. This means no inspections or lengthy showings for potential owners, hoping they might make an offer.
- No Realtor Commission Fees – A cash home buyer doesn’t charge any fees or commissions.
- Fast Turnaround – You are selling directly to home buyers so this takes as little as a week to close and get paid.
Selling your home to a cash home buyer is much different than going through a listing process. While it might save you time, there are cons to consider, including:
- Get Less Money – The value of your home when selling to a cash home buyer is calculated as is, so they factor in the cost of repairs and closing fees. Plus they have to make a profit, so offers are lower than putting your house on the market.
- No Control Over Who Lives in Your Home – The buyer will flip your house to see it to another buyer, but you have no say in who will buy your house.
- Need to Find a Reputable Buyer – You need to find a home buyer who is diligent and trustworthy so that you get paid quickly and for the amount discussed.
Factors to Consider When Choosing Between a Realtor and Cash Home Buyer
There are many ways to sell your house in Southern California. But, when deciding between a realtor vs cash home buyer, there are reasons to pick one over the other. It all depends on your circumstances. this may include:
- How Fast You Need to Sell
- The Condition of Your Home
- If You Still Have a Mortgage
- Care About Who Owns Your Home
In most cases, it is very clear what type of home-buying procedure is best based on the lists above.
Case Study: Selling an Inherited House in Southern California
Choosing to use a cash home buyer over a relator means finding someone with experience and a reputation for professionalism. At Premier Property Buyers, our customers are satisfied with the quick process, reliable communication, and easy payment.
Start the process of selling your inherited home today by contacting us with any questions.