Did you know that the way you price your house could mean the difference between it sitting on the real estate market for months on end or being purchased within a few weeks? Well, if you didn’t, this is actually quite true. And it’s especially important to consider for those who’ve recently inherited a house that they intend to sell fast in New Hope MN.
No matter where you are in the country when selling your house, there is a trade-off between the price and time-on-the-market. And for those who do not price their properties strategically enough, this trade-off could result in a property remaining listed with little activity for long periods of time. However, this doesn’t mean that you should shoot for the lowest price when trying to sell your inherited house fast; because then you’d just be leaving money on the table, which is unwise. Instead, it means that you should be strategic and follow the right tips on how to price your home for sale.
Below, we are going to explore this subject in a little more depth and show you how to go about pricing your inherited property for sale if you’d like to sell quickly while wiggling in as much profit as possible. For more information on inherited houses, you should also read another one of our posts that expands on 5 Tips for Selling an Inherited House in Bloomington MN.
What to Do When Pricing Your Inherited House For Sale in New Hope MN
Read on to discover our top tips for pricing your inherited house for sale in New Hope MN.
Tip 1: Price Quick When Selling Your Inherited House
Some people price their inherited property at an amount they assume the real estate market might pay for it without doing any actual research. However, this is not very wise. There are many factors that go into pricing your house for sale. Firstly, you need to ask yourself: how fast do you want to sell? Selling through an agent usually takes 3-6 months. Are you willing to wait that long? Additionally, if you choose to work with an agent, you’ll also have to pay for the house’s maintenance and any needed repairs, as well as marketing costs for your agent to find buyers. This can all be costly and it will eat into your profit margin.
Many property owners quickly realize that they’re better served slightly lowering their asking prices for a faster sale… They might get less for the house, but overall they will pay less on repairs, added costs, effort, and time.
Tip 2: Avoid Pricing Your Inherited House Based On Emotion
One of the biggest challenges that property owners selling inherited houses face when trying to price their property for sale is separating the happy memories from the true value of the house. Realistically, an inherited house may be worth a certain value on the market, but due to fond family memories that may be associated with the house, you might accidentally use that emotion to increase the price. (This is VERY common.)
A better approach would be to work with a professional home buying company like our very own, FastPath Home Buyers, and find out what we can offer you. This will help you recognize the true market price of your inherited house.
Tip 3: Discounts Repairs When Pricing Your Inherited House
If you inherited the property from a loved one who lived in it for many years, you may soon find out that the property needs repairs. You could choose to do this work yourself and then ask for a higher price, but why not save yourself the time and effort (and above all else, the expensive cost of repairs). By selling directly to our company, FastPath Home Buyers, you won’t have to worry about repairs. We accept houses “as-is” meaning you can forget about the hassles involved with home upgrades, upkeep, and maintenance. You won’t even have to worry about cleaning your inherited house.
If you’d like to have your inherited house sold by the end of the week, reach out to our company FastPath Home Buyers. We Buy houses in New Hope MN directly (without the use of real estate agents). Simply reach out to us by calling (612) 351-2384, or by filling out the short form below, and we’ll get back to you with the highest possible offer we can give for your inherited house.
Now You Have The Knowledge. Get Your Free Offer Now!We give you actionable data to make the best decision.
Find Out How Much Cash We Can Offer For Your Minneapolis House!