Inheriting a house can be complicated. When siblings inherit a home together, rarely can a perfectly equal arrangement be made. How do other siblings get equal value if one person lives in the house? If the house is rented, do you have to go into business together? The solutions to shared inheritance are often more complicated than the initial question: Should you sell the house or keep it? If you keep it, how can you equally split the monetary and sentimental value of the home between all siblings?
Inheriting a home in LA California only adds to the challenge with the density, traffic, and high cost of living for out-of-state relatives. If you want to sell an inherited house fast and have siblings to settle with, you have options to choose from.
Reasons to Quickly Sell an Inherited Home
Inheriting a house can be exceptionally sentimental. It might be the family home you and your siblings grew up in or a home you’ve visited for many happy holidays with your now-passed loved one. It can be tough to let go, but a few compelling reasons may influence a group of siblings to sell instead of keeping the house for sentimental reasons.
- No one wants to live in the home. You all have established lives elsewhere
- The home is in bad shape and would cost more to repair than the siblings can comfortably afford
- There is a hoard inside the house you just can’t tackle
- There are bad or unhappy memories wrapped up in the house
- No one can afford the property taxes and yearly upkeep
Why Selling an Inherited House is a Good Idea for Siblings
When siblings inherit a parent’s home, questions rise to the surface. Who will live there, clean it up, or pay for it become incredibly sticky discussions. Disagreeing over the inherited house can cause more strife than your parent would have wanted. Selling offers several benefits beyond splitting the money.
- No Buyouts Between Siblings – A buyout is necessary for any siblings to opt-out of shared ownership. But buying a sibling out of the family home is complicated and emotional. If you want to keep buyouts out of the picture, selling the property provides the best way for every sibling to have a fair share of both benefits and responsibility.
- Sell At Your Own Pace, When You’re Ready – There are two ways to sell your house. One relies on the market, Realtors, and buyer offers. However, selling to an investment buyer allows you to sell on your time whenever you are ready. This could mean selling quickly to get old memories and a leaking roof off your shoulders. Or you can take your time sorting contents, distributing keepsakes to relatives. and finding closure before closing on a sure sale.
- No Effort to Sell the House -No Cleaning, Repairs, or Staging Required – Skip the effort of preparing the home for the real state market. Selling to an investment buyer, you can skip staging, painting, and repairs; you don’t even have to remove everything. Based on your needs and the state of your inherited home, we can take care of everything from a few leftover boxes to hoarder-packed homes. You also don’t have to fight with your siblings about who will clean and prepare the house for sale.
- See Cash from the Sale Now – What your parent hoped to leave you when bequeathing the house was something of value and benefit to your lives. If any or all of the siblings could benefit from the money, selling to an investment buyer can lead to the fastest and most efficient route to cash that can be fairly split -without worrying about escrow, contracts, or mortgage approval on the buyer side.
Selling the House to an Investment Buyer
If you decide to sell, there are two ways to sell a house. The first is to go through the real estate market with a real estate agent, cleaning, repainting, staging, and then negotiating bids with buyers until one buyer finally closes. Then there’s selling to a cash investment buyer as is, a company or individual with cash-on-hand, and a business plan that includes buying, improving, and selling or renting houses.
Inherited homes often benefit from being sold to investors who don’t require the whole move-in-ready rigmarole. Siblings have a lot to gain when selling a co-inherited house to an investment buyer. This can remove complexity, cost, delays, and drama from the equation when you can quickly get a fair price for the home in cash to share.
What Happens When You Sell an Inherited House to an Investment Buyer?
Many people wonder about the difference between selling to a family buyer vs. an investment buyer. A private sale does allow you to hand-pick the next residents in your family home. But rest assured, when you sell a home to an investment company like Seller’s Advantage, it will be the happy home of a new family.
An investment buyer is a home flipper on a much larger scale. With a larger portfolio, we have more capital available to buy homes. We will quickly take care of the repairs and upgrades to get your home ready for a new family – and relieve the housing crisis one improved home at a time.
How to Quickly and Easily Sell a Co-Inherited Home
If you have inherited a home with siblings, the selling process can be both emotional and complicated. Fortunately, a few how-to steps can help you put one foot in front of the other while tackling all the outstanding items, helping everyone find closure, and selling the home before it creates a growing maintenance cost.
- Walk Through the Home – Feel What You Feel – The first step is always to walk through the home, just once. There are emotions to process just seeing, touching, and smelling the space they used to live. Perhaps your family home or just a house they had chosen after you became an adult. If you’re out of state from the inherited house, it may be worth your while to take at least one walk through the residence of your passed loved one.
- Distribute Heirlooms and Bequeathed Items – Go through the will and the house together, distributing any bequeathed items to the intended relatives. Save heirloom collections and furniture. Rescue family keepsakes from the attic. Ensure all legal and sentimental items are claimed from the mass of daily life items in the house.
- Let Relatives Claim Loving Keepsakes – Once official bequeathed items are distributed, let each sibling claim something as a keepsake from the sentimental items and then each extended relative. A ring, a chair, or even a basket can have special meaning and provide valuable loving memories.
- Put Unclaimed Personal Items in Storage – If relatives can’t make it to claim keepsakes, or there are personal items you don’t have time to sort right now, put the home’s contents into a climate-controlled personal storage locker. This will allow you to take care of the sentimental and antique items later while dealing with the house or trust today.
- Schedule an Estimate Tour – Once the house is empty of all important items, you can call and schedule an estimate with your investment buyer. Call us here at Seller’s Advantage for a same-week visit to price the house if the home is in the LA area to sell my house fast Los Angeles.
- Accept a Cash Offer – Within a few days, sometimes within a few hours, we’ll have a cash offer ready for you to accept. On your schedule, accept the cash, sign the paperwork, and the property itself will be off the hands of you and your siblings.
Selling an Inherited Home Fast with Sellers Advantage
If you and your siblings need to sell a home fast in the LA area, Seller’s Advantage the #1 company that buys houses has everything you need from fair estimates to fast closing and cash payment. Contact us today to schedule your free estimate with a no-obligation initial tour of the home. We’ll get you a cash offer you can pitch to your siblings to stop the fighting or a proposal that will satisfy a group of siblings ready to sell.