If you’ve inherited a property and you’re planning to sell it, make sure you read this blog post for 3 tips about how to price your inherited home in Lynchburg for sale…
Did you inherit a property that you’re now thinking about selling? While an inherited property can be a wonderful gift from a loved one who has passed on, it can also (quite frankly) be a costly burden. So selling it makes sense and allows you to use the gifted equity for some other purpose. But selling an inherited property may not come easy to you, especially if you haven’t sold a property in a while. So here’s how to price your inherited home in Lynchburg for sale…
Tip #1: Price Quick To Sell
Some people price their inherited property at an amount they think the market might pay for the house. However, there are many factors that go into this price and one of the biggest considerations is: how fast do you want to sell? Selling through an agent “on the market” can take months, and you’ll have to pay for the house and maintain the property the entire time. That can be costly and can eat into the higher price.
Many property owners quickly learn that they’re almost better off to price slightly lower for a faster sale… they might get less for the house but they also pay less on repairs, carrying costs, effort, and time, so it’s ultimately a trade-off that might turn out to be a total wash.
Tip #2: Avoid Pricing Based On Fond Memories Or Emotion
One of the biggest challenges that property owners of inherited property face when trying to price their property for sale is separating the happy memories from the true value of the house. The house might be worth a certain amount on the market but you may have such fond memories of growing up in the house or of happy times in the house that you accidentally use that emotion to increase the price. (This is VERY common.)
A better approach would be to work with a real estate company and find out what they can offer you, and recognize that the price might be lower than you were expecting… not because the house isn’t worth as much but because your wonderful memories have accidentally inflated the price!
Tip #3: Build In Discounts For Repairs
If you inherited the property from a loved one who had lived in the property for many years then you might find out that the property needs some repairs. You could choose to do this work yourself and then ask for a higher price but why do that when you could save yourself the time and effort (and what you’d have to pay for equipment, supplies, or a contractor) and instead just ask for less and give a “repair discount”. That way you avoid the hassle of the work, and you still come out the same financially.
Summary
An inherited house can be a lot of work so if you’re thinking of selling it, you’re certainly not alone. But how do you price an inherited house? These tips will guide you on how to price your inherited home in Lynchburg for sale.
Why not bypass all the work and cost of selling through an agent and instead get in touch with us today about selling your inherited property to us here at Linken Investments LLC.? Just call us at 434-390-2906 or click here and enter your information in the form.
Linken Investments, Lynchburg’s Trusted Home Buyer
Linken Investments LLC. is a local real estate solutions company based out of Lynchburg, VA. We are Lynchburg’s Trusted Cash Home Buyers. We have been buying houses for cash in the Lynchburg area since 2005. Our years of experience are one reason clients trust Linken Investments to complete the sale of their property quickly with honesty and integrity. We’re a family-owned business and focus on helping homeowners like you find solutions to your problem whether you’re going through a foreclosure, selling an inherited property, or just need to sell your house fast for any reason. Linken Investments offers you the chance to sell your home in a simple, stress-free, cash transaction.
Linken Investments can buy your home exactly as it is, no repairs or cleaning needed, and we pay all cash and close fast, in as little as 7 days or when it works for you. Plus, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your house and get on with the next chapter in your life.
It won’t cost you any money and only about an hour of your time to find out how much cash we’ll pay you for your house. And you’ll be under no obligation to accept our offer, so you have nothing to lose but a house that’s standing between you and the life you want to enjoy.
At Linken Investments we buy houses all over Central Virginia :
We buy houses in Lynchburg, Roanoke, Farmville, Appomattox, Salem, Bedford, Amherst, AltaVista, Rustburg, Vinton, Hollins, Moneta. We know the area, which means we can help you sell your house fast no matter where it is or what condition it’s in (and even if there are tenants). We are Home Buyers who pay cash.