Selling Your Inherited Property
When a loved one dies, it can be difficult to decide on what to do with assets like an inherited home or possession. Learning how to sell your inherited property to the right buyer is something that many bereaved people simply don’t want to take the time to do after the death of a loved one.
The quickest and easiest way to deal with this problem is to sell the property to a real estate investor. But like all areas of business, there are shady companies looking to make a quick dollar. These investors can easily prey on those who have just suffered a loss. Many times, relatives who have inherited property have no idea how to go about selling it and clearing the title. They can end up losing thousands to scammers.
Picking the right home investment company can help you avoid being ripped off during this difficult time. Here are some important tips to consider when choosing a home investment company to purchase an inherited home.
While it is possible to get a good deal from a national real estate investment firm, it’s a better idea to go with a local investor. A national company generally won’t have the same knowledge of a location that a local investor will have.
The Texas Realtors Association points out that a local company will know all the little details that make a property worth more money like the school it is zoned for. Also with a local company, you can meet with an agent in person. This helps to foster trust.
If you live in the Houston area, you can get a cash offer on your inherited home from a real estate company that understands the local market. Since 2008, Houston Re House Buyers has invested over $25 million in the Houston housing market. Get in touch with us to learn more about our services.
Do Your Research
The easiest way to check out any business is to search for a rating with the Better Business Bureau. A business that has a good rating (“A” or higher) with the BBB tends to be a company in good financial standing. Many fly-by-night operations won’t be rated by the BBB at all. This is because they haven’t been around long enough to earn a reliable rating.
Houston Re House Buyers has an A+ rating from the BBB. In the decade we’ve been buying homes, we’ve never received a bad review.
Never Make Any Payments Up Front
In order to make sure that the investor isn’t trying to scam you, never make any payments up front. A legitimate home investor would never charge a homeowner for coming out to look at their property and making them an offer.
A successful home investor will have a large team that helps provide assistance. They should be up to date with the local real estate market and any significant trends. This ensures that the investor doesn’t have to resort to cheap ploys like charging extra fees to make money.
Watch Out for Extra Fees
Another sign of a company trying to scam a homeowner? See if they charge extra fees for services like performing any rehab work or clearing the title.
The National Association of Realtors mentions that reputable home investors will have already factored in the cost of any fees that come with the sale of the home, as well as the estimated rehab costs. This will be reflected in their offer and will be listed in the contract.
Many times, the investor will go the extra mile and offer to help deal with any potential hurdles to the sale. This includes dealing with probate issues or making sure any liens have been satisfied. This service is priceless since many homeowners are not familiar with the legal side of selling real estate.
Know When You Will Actually Receive the Money
An accredited home investor will be able to pay the seller at the time the sale closes. They can either wire the money to your bank or pay with a certified check. It can be a sign that an investor isn’t on the level and is trying to scam homeowners if they claim they are unable to pay the entire sale price at the time of closing.
If you’re stuck wondering how to sell an inherited property, get in touch with Houston Re House Buyers today. We’ll walk you through the entire process and help you get the best value for your home. Our goal is to make the process as stress-free as possible while you grieve the loss of your loved one.