74. 5 Tips for Selling an Inherited House in Bloomington

We Buy inherited Houses in Bloomington MN

Are you looking for a fast way to sell your inherited house. If so, you should consider reaching out to our company, FastPath Home Buyers. Here at FastPath, we buy houses in Bloomington, and throughout Minnesota. Working with an agent can be extremely difficult, especially if you have just inherited a house that you may not have the time or money to invest in. With an agent, you won’t simply have to worry about fitting their commission alone. You’ll have to invest your own time and money into repairs, updates and marketing. However, if you choose the work with FastPath, you won’t have to worry about any additional expenses. With FastPath, you get Payed in Cash and your able to sell your house “as-is” (meaning in any condition. No cleaning! No repairs!). Finally, we are prepared to close on any deal in as little as 7 days. So Calls us at (612) 351-2384, or fill out a short form to receive an all cash offer today!

Family members or close friends commonly enact a will before they pass away. This will divides their estate, leaving their property holdings to their next of kin or people who meant a lot to them. Inheriting a home is quite common, yet the property is often unwanted (due to upkeep, property taxes, and any homeowners or property owner’s association fees). In this blog post, we’ll cover 5 tips for selling an inherited house in Bloomington.

Prepare for Probate

An inherited property will likely have to go through the process of probate, depending on how the property was deeded. Local and state laws vary in the matter of inherited properties. For those who have completed probate, there may be additional requirements within the county or state of the property, especially if the inherited house’s location differs from your own. These requirements differ, but they are all essential in order to gain full legal rights to the property. Being prepared in advance to handle probate is a good tip for selling an inherited house in Bloomington.

Renting

Renting is another valid option that you can consider. By acquiring good tenants, you can keep a steady stream of money flowing into your bank account. If your looking to sell, you could opt for a lease to own agreement. For those that can afford to sit on their property for the typical three-year period that will be required for a lease to own agreement, they will be able to collect rent, a down-payment for the property, then the full sale fee after the waiting period. However, before you pursue this avenue, you’ll need to understand the added demands of a landlord’s duties.

For Sale By Owner

For sale by owner, or FSBO, is another option to consider when selling a house you inherited in Bloomington. However, you should always be carefully when setting you asking price. Often our emotions put an added value on a property, which has little to do with the realities of real estate valuation. Before you settle on an asking price, do a little research first to see what similar properties within your area are being valued at. This will allow you to not only set a fair market price is, but to set one that is competitive enough to draw buyer attention.

Real Estate Agent

If you do not want to be a landlord or live in the house that you’ve inherited, listing with an agent is another option in Bloomington. Listing your house on the real estate market with an agent usually means prepping to bring the home to market. However, this typically includes upgrades or serious repairs, covering professional photography fees, marketing, and staging the home. Add in real estate fees and commissions, as well as some closing costs. 

Professional Buyers

Professional buyers will take the time to listen to your specific circumstances and help you decide which of the possible options of selling your unwanted inherited property is best for you, even if that means listing with an agent. Selling a house you inherited in Bloomington to a professional buyer is often the best option for the property. Keep in mind, cash buyers with quick closings will probably offer you a bit less than average market value when selling an inherited house in Bloomington. This is because they save you from all the costs involved with listing a property. There is no prepping, upgrading, marketing, or any other of the costs associated with other options.  

FastPath Home Buyers makes the process easy for you, with guaranteed quick closings on firm offer, and no surprises at closing. Please call us at (612) 351-2384 to discuss the market value of the property. Contact FastPath Home Buyers to learn more about what to do with your unwanted inherited house. We’re happy to answer any questions you may have, including the potential probate on the property in Bloomington, MN. Give FastPath Home Buyers a call at (612) 351-2384 today!