If you inherited a property that you intend to sell, make sure you read this blog post all the way through to know the 3 things you can do in Fort Worth to prepare your inherited house for the sale…
When a loved one passes, it can be a difficult time for everyone. And although inheriting a house might seem like a wonderful way for a loved one to pass something of value on to you, it can also be a burden. Houses take a lot of work to maintain, keep clean, and keep up-to-date. If the home has a mortgage you may not be up for making the payments. If you’re thinking about selling an inherited house, or if you are still exploring your options, we hope these suggestions are helpful. Here are 3 things you can do in Fort Worth to prepare your inherited house for the sale…
Preparing Your Inherited House For Sale — Tip #1
Perhaps the most important thing to do is to save the memories for yourself. It’s easy to discover that you have many mixed emotions about the property, and that can actually keep people from selling an inherited property. Instead, they just pay to hold onto the property but never really enjoy the property. The best step here is to understand that you are experiencing emotions about the memories and about the person who lived here. The house itself is just the structure.
So if you’re thinking of selling but want to preserve the memories, do something special in the house — take pictures, gather some of the furniture and photographs and other mementos that you will cherish. You’ll have a few things that represent your memories and you’ll still be able to sell the house to keep it from becoming a burden.
Preparing Your Inherited House For Sale — Tip #2
Perhaps you have assessed the mortgage status and realized that the mortgage payments are too expensive. Or, perhaps you need to sell the house in order to be able to split the money among siblings. Or, maybe you just don’t want the extra work involved to rent it or to maintain the house and keep everything in working order.
In any case if you have inherited a house you plan to sell, chances are, you inherited it from someone who lived there for a while. When this happens, you’ll find out that the person who lived there may have taken very good care of the house, but after living in the same house for a while, there might be areas of the house that they didn’t use very much, or perhaps areas of the house that they used for storage. The first actionable steps you can take to help your inherited house sell are to clear the house from all the clutter and to clean it up thoroughly. You can make any minor repairs and give your house a fresh coat of paint wherever it might be needed. A paint job is an affordable way to improve the first impression the potential buyers will make when they come to view your house. Also, you might want to consider how you can update or improve the curb appeal. With these steps you can present a beautifully staged home or even a clean yet empty house to buyers.
Preparing Your Inherited House For Sale — Tip #3
Increase marketability with a few small scale upgrades, but don’t do any big renovations. An experienced local real estate agent will have good suggestions for what is important to upgrade in your area. They will also know what items of concern you can leave as they are.
Some examples of affordable yet impactful things you can do to sell your house faster and for more money are:
- Improve your curb appeal. Have your lawn professionally groomed and bushes trimmed. Add mulch and a few nice plants near the entrance. Add a fresh coat of paint to the door or trim if needed.
- Replace outdated or aged carpet and linoleum with vinyl wood flooring.
- Update hardware and fixtures on cabinets and update lighting fixtures if needed.
- Paint the walls of the interior especially of the larger shared spaces to a neutral shade of gray or beige.
Final Tips For a Smooth Process
If there are multiple heirs to the property the will of the deceased may appoint one person to be the executor or personal representative who will be the one responsible for maintaining the property and keeping it safe. The personal representative is also responsible for making sure the funds from the estate are distributed correctly. If no executor is designated the heirs will need to nominate a person to take this role. The personal representative should also open a bank account in the name of the deceased person’s estate to temporarily hold any assets. The executor uses the funds to first cover the financial obligations for probate and the remaining costs associated with the estate before dispersing any funds to heirs.
If you find yourself in conflict about the sale of the home with multiple heirs a mediator can help resolve the issues more quickly than going through a process in court. Also, working with a real estate agent who has experience working with clients who have inherited a property and or who have gone through probate can be extremely helpful.
So you’ve just read 3 things you can do in Fort Worth to prepare your inherited house for the sale. When your loved one passed the house on to you, they did so because they wanted to give you this gift. Selling the inherited house may make the most sense. It may be the best way to allow you or multiple heirs to enjoy and fully appreciate the gift.
Texas Best Homebuyers is local to the Ft Worth area and has been helping people with their real estate needs for more than 25 years. If you would like to discuss any questions regarding your real estate property with us don’t hesitate to contact us anytime! We have the ability to list your home on the MLS or Multiple Listing Service and we also buy houses for cash. If your top priority is selling the property as quickly as possible selling to a cash buyer might be a great option. We can help you weigh your options and will help you meet your goals whichever way of selling your inherited home is best for you. Reach out to us today. 1-817-808-4911 We look forward to hearing from you!