When a loved one passes away, you may have the responsibility of dealing with their estate, including their home. It can be emotionally overwhelming and physically exhausting, especially if the home needs extensive repairs. When this happens, many heirs will choose to sell the home “as is.”
Inheritance and Probate
As soon as a homeowner dies, their property, including their home, goes under probate. This happens with or without a will. It’s basically the legal process of fairly distributing the person’s assets to the heirs.
If there’s only one heir, there are usually no problems. But if there are several heirs—say, an elderly man has four children—their house is usually sold and the proceeds from the sale are split up between them.
Problems with “As Is”
The responsibility of selling the home then falls to the heirs or the executor of the will, if there is one. That often leaves the heirs to deal with a home that may not have been well maintained over the years due to the loved one’s age, disability, or illness.
Because of the expense of making repairs, the heirs often decide not to fix up the house before trying to sell it. It’s then listed “as is,” which tells the potential buyer that there are probably repairs needed to the home. The home may take longer to sell and at a lower price than expected.
Selling for Cash
You can avoid the problems trying to sell an “as is” house on the open market by selling it to a cash buyer instead. The cash sale is fast, easy, and direct, and the best part is that you never have to make repairs. The cash buyer will purchase the house “as is” and have an offer to you within 24 hours.
After accepting the offer, you can close within a week or so. There will be no inspections or requests for repairs or allowances. This means you settle the estate more quickly and the heirs receive their inheritance.
A quick sale to a cash buyer can be the solution to selling a loved one’s home that has been inherited. You’ll never have to make repairs, and you can have cash in less than 30 days.
If you have an inherited home in the Bakersfield area, you can sell it quickly “as is.” Click here to learn more.