When the family home gets passed on to you after the passing away of a parent or relative, you have two options: live in it or sell it. Figuring out how to proceed can be overwhelming, especially if you’re still grieving.
Owning a house can be a financial burden—the longer you own the property, costs like bills, maintenance, and taxes will pile up. While deciding whether to keep or sell your inherited property in North Carolina, consider these factors:
A Significant Use for the House
Don’t force yourself to keep the house because it was passed on to you. It’s fine to hold onto it for sentimental reasons, but the more practical option is to keep the property only if you have a good use for it. It might not be your best option to keep it if you already live someplace else.
Transferring Ownership to Another
Sit down with your living relatives and decide if the home should be kept or sold. There might be someone in the family who’s willing to take the property off your hands. It might give you peace of mind to see the house used by a family member instead of a complete stranger. This could also be a good source of revenue, especially if the deed to your ancestral home is named under yours.
Upfront Costs of Selling
If you decide to sell, consider the groundwork needed to prepare the house for sale. You might have to go through a lifetime of belongings in the home. Preparing the house for listing also involves cleaning, maintenance, and repair. If you decide to sell through a professional real estate agent, you might also need to spend on your agent’s commission, marketing, and professional photography.
How to Sell the House
You have three ways to sell your inherited property:
- Listing: Listing your inherited house in North Carolina means preparing it for the MLS. Check the homes around your neighborhood to find a benchmark price.
- Sell on Your Own: Selling your property through an FSBO listing saves you the money you would otherwise spend on agent commissions, but you still need to spend on cleaning, repairs, and marketing, which could be tricky especially if you’re handling the selling yourself.
- Sell to a Direct Buyer: Selling your inherited house to direct buyers like Offer Hut will make it easy for you to receive your profits right away. After inspecting the property, the company will then give you an initial offer. Once you receive the money, you can move on from the house without spending on repairs and marketing. This is a great option as it saves you time and the stress of having to go through the listings and agents to get the best price.
If you’re looking to sell your inherited property in North Carolina, Offer Hut may be the best partner for you. Contact us for a guaranteed all-cash offer after a one-day assessment. Call 919-514-1001 today.