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How To Sell An Inherited House

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I've just inherited a house: what happens next?

Having a relative leave you a house in their will is an incredible gift, but comes with important responsibility.

While gifting a home is an amazing gesture of kindness there are some important things to consider. So, what happens when you inherit a house?

One of the important things to keep in mine when it comes to inheriting a house is that while you inherit the physical structure, you also often inherit all the fees and expenses associated with that house. Once you become the owner of a house it becomes your responsibility to pay the monthly mortgage payment, any yearly insurance premiums, all the property taxes, and any potential liens or outstanding debt that may be in place against the property. In the event that you own this inherited house with other relatives, it is also important to consider that they all have a say in any potential decisions made in regards to the house. Not to mention, according to federal law, Federal inheritance tax is also something that will need to be paid. To complicate matters further, if you live far away now you have a house to deal with a few states away, making traveling to and from the property incredibly property.

After our many years of experience buying and selling properties in New Jersey, we've seen time and time again that what starts out as incredible gift (an inherited house) turns into a troublesome burden.

We've made it our mission to create a stress-free option for relieving that burden.

You don't have to be stuck with the property: there are options for selling an inherited house.

What we've seen in the industry is people who want to sell an inherited house normally think about listing their property on the traditional real estate market and going through a realtor before anything else. Unfortunately, this can be a costly mistake because they don't account for all the hidden costs associated with listing an inherited house on the real estate market or selling an inherited house with a realtor. Some of these hidden costs include: cleaning the house, repairing any issues within the house, updating the house with more modern amenities, and staging the house for open houses and showings. The worst part is, often when it comes to inherited houses, you need all parties involved (all those who have inherited the house) to be in agreement on every single decision. This makes the process not only expensive, but also creates a huge time sink. Don't forget, listing with an agent means you need to pay their commission, the other agent's commission, and any closing fees. Finally, as with all things on the real estate market, there is no promise of it selling at all, let alone quickly.

Can I Sell An Inherited House for Cash?

Yes! An easy and fast cash sale to Flash Home Buyers could be a great option for you. We buy New Jersey houses as-is for cash. This is great for inherited houses because now you don't need to worry about cleaning or repairing the property, we'll buy it just the way it is! We also handle all the clean out so if you have some inherited old furniture that you don't want to bother moving, you can just leave it in the house!

When you sell us your inherited New Jersey house for cash, we don't charge you any commissions and we personally play the closing costs. Plus if you're working on a deadline, we can close within 3 weeks or also give you more time to close on your schedule. This will make sure you get the cash you need to pay off any outstanding debt, federal inheritance taxes, or put it in your savings. Plus, if you're working with multiple parties it makes it super easy because you only have one thing to agree to: our fair all-cash offer to buy your inherited house as is.

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