How to Quickly Sell an Inherited Los Angeles House with No Mortgage
The real estate industry is complex and extremely social. The process of buying or selling a house involves dozens of meetings for inspectors, repairs, painting, staging, not to mention meeting a slow parade of buyers. For most sellers, this is a rewarding experience that mirrors the careful decision-making of the buyer. But not every home sale can occur at a leisurely pace.
Many sellers don’t have the time or availability to prepare their house for sale. In some situations, you may not have planned to own the house in the first place. This most often occurs when a home is inherited by someone too busy or distant to handle the home sale by themselves. The goal becomes to sell the house for profit before the property can take deteriates from renters or vacancy. If this sounds like your situation, we’re here to tell you that there are solutions. Inheriting a Los Angeles house doesn’t have to mean tackling the Los Angeles real estate scene.
Let’s explore a few of your options to quickly profit from selling a mortgage-free inherited Los Angeles home.
AVOID LEAVING THE HOME VACANT FOR TOO LONG
The first and biggest concern for most house inheritors is vacancy. Homes are not meant to be left empty, especially a recently lived-in home. There are many reasons to avoid leaving a home unlived in for too long.
- Removing pets, food, and house plants
- Maintaining temperature and humidity
- Cost of property tax and utilities
- Risk of squatters or vandals
- Water and gas leaks
A vacant home is a ticking time bomb of slowly increasing cost and risk. The longer a home is not lived in, the more likely maintenance problems will arise or vandals will be attracted to the unmonitored property. The longer you own the home, the more utilities and property tax will need to be paid.
MOVE PERSONAL BELONGINGS TO PERSONAL STORAGE
The first step when you inherit a home is to address the personal belongings inside. Handling the estate may have bequeathed specific items and furniture, but many of your loved one’s items of daily life have yet to be addressed. You may not have the time or even live close enough to the house to sort it all efficiently, but your loved ones personal items still deserve sorting and respect for when you have the time.
Personal storage is the smart answer and the best way to get started when selling an inherited house without a mortgage. A moving service can help you to respectfully pack up everything and even clean out perishables in the kitchen when you can’t make it into town.
DON’T SPEND ON A CONCIERGE BROKERAGE SELLING SERVICE
Now how do you sell the house quickly, before the time the house is vacant becomes too long or costly? One option is to hire a brokerage to find you an individual buyer. It takes a serious investment to prepare any lived-in home for sale. The term Move-in-Ready will be thrown around, which means repairs, maintenance, fresh paint, and staging each come with their own cost and time consumption. If you have copious funds to invest in selling the house hands-off, there are services that can take care of the process. They will likely still ask you to approve the various expenses, viewings, open houses, buyer bids, negotiations, contingencies, and finally the settled price. When that’s over, the agent, broker, and closing fees will come out of the house profits.
This is an industry option, but if your interest is speed or cost-efficiency, it’s not necessarily the best option. Just the best way to automate a typical home sale. Fortunately, you don’t have to conform to a typical house sale to get the home’s value quickly and ensure the house isn’t vacant too long.
SELL THE HOME AS-IS
Your other option is to sell the house as-is. Preparing a house to become move-in ready takes repairs and touch-ups. Sometimes new floor or paneling is needed before the house is ready. Selling the house as-is means you can skip all of that. The best part is that selling your house marked “as-is” is a flag for buyers who don’t care about a move-in-ready property. It’s an honest and practical way to sell a home that doesn’t require you to pour cash into preparing it to be pretty.
In fact, there are several types of buyers that are eager to find as-is homes on the market even when its slow. Home flippers and eager young couples who want to fix up their first starter home are among the more well-known buyers of as-is homes, but there are also large-scale investment buyers who can always be counted on to pick up an as-is home when sellers need a reliable and expedient sale.
AIM TO SELL FOR CASH
Normally, sellers are paid through a complex system of escrow accounts and the bank paying out the buyer’s loan. Then there’s paying your real estate agent, the buyer’s agent, your brokerage, your lawyers, the title office, and all the other closing costs. There’s a simpler option here, as well. When selling as-is, you’re more likely to find a buyer who can buy directly with cash. This means money in your hands with much less banking hassle. If selling without real estate agents, you don’t even have to worry about a large portion of the closing cost hassle.
FIND AN INVESTMENT BUYER FOR AS-IS HOMES
Last but certainly not least is the expedience of an investment buyer. Individual buyers take real estate agents to handle the transaction, but investment buyers often have the entire process ready to make it easy for you. We know how this works because here at Seller’s Advantage, we streamline the buying process. You don’t need an agent to get a free assessment and bid for a cash-sale of your inherited house. You also don’t need to worry about repairs or a staging the house – we know how to see a home’s potential beyond shabby carpet and old appliances.
Selling as-is to an investment buyer like Seller’s Advantage is the best way to prevent vacancy damage to the home, avoid accruing homeowner costs, and obtaining a fair cash payment for the property.
Inheriting a home free and clear doesn’t have to result in a debacle to clean, prepare, and sell the house. Let us take care of the process turning your relative’s home back into a warm abode for modern families. We’ll pay you cash so you can stop worrying about the property and mourn your loved one without lingering concerns. Contact us today to talk about selling your Los Angeles house without a mortgage.