28 Jan Sell Inherited House Fast
Are you looking to Sell Inherited House Fast? We here at Home House Buyers will look at the different options available to you if you are needing a quick house sale due to inheriting a property.
Reasons to Sell Inherited House Fast
Having an empty house isn’t always a good idea for a number of reasons. The main being that an empty house can cause unwanted attention from the likes of squatters and thieves.
There is also the issue of the house deteriorating in the absence of an owner. Heating systems need to be used, windows opened and the lawn cut. If you property is empty for a long period of time, these small tasks can cause large problems such as damp, rot and in some cases the heat systems can fail. If there isn’t someone there to keep an eye on the property over the winter months then a small leak can turn into a much bigger problem.
Bills Bills Bills. Having a second house that is empty can also be very costly. Council tax is unavoidable nowadays as exemptions are few and far between. There is also the cost of insurance, heating costs to stop flooding over the winter months as well as maintaining the property with cleaning and gardening. All in all, you could be in for £120 council tax, £30 insurance, £40 Heating and £20 maintenance which would total £210 a month and works out at £2520 a year.
The Best Ways Sell Inherited House Fast
There are more options out there than ever when you are looking to Sell Inherited House Fast, so which is the best one for you? (Here is a guide to saving on inheritance tax)
Through your local estate agent
If you are looking to try and Sell your Inherited House Fast, then using an estate agent could be an option. The main pro is that you are always more likely to get a higher price than most other options. The negatives are that you will more than likely be tied into a 5-6 month contract, you will have to pay the estate agent a hefty fee and your house isn’t guaranteed to sell. If you don’t manage to get an offer then the estate agent will more than likely ask you to reduce your price down.
Sell your inherited property fast through your local auction house
The auction house may be a quicker way to sell your house rather than using your local estate agent. So what are the pro’s and con’s? Well, the positive of using an auction house to sell your property is they will aim to sell your house on the day of the auction. The Cons? Well, if your house doesn’t sell then you will have tarnished its value. Alongside that, if your house fails to sell then you will still have to pay the auction houses fees which can be in the thousands of pounds.
Sell your inherited house through a property buying company
The chances are that the initial offers that you will receive will be less than the open market values that you will be getting offered from the estate agents. So what’s is the point? Well, you will get a guaranteed sale normally within around 28 days, all of your fees will be paid for and don’t forget you could save on those estate agent fees also.
House value £100’000
9 months bills = £1890
Solicitors fees = £1000
EA cost = £3000
House offer (typically 7% less of market value) £93000
Which leaves you with total of £87110
A typical offer from A Cash House Buyer on a £100’000 house well be around £80000 – £85000.
As we mentioned at the start of the blog if you are looking to sell your inherited house fast, then you could achieve more money by selling it on the open market. If you don’t want to leave your property empty for a long period of time then a quick house sale may be a better option.