4 Financial Options You Can Pursue When Selling an Inherited Property in Dallas/Ft. Worth
Tags: Refinance, Rent To Own, Sell Fast for Cash
If you have inherited a property and you are thinking about selling it, you might have more options than you realize. Read this blog post to find out the 4 financial options you can pursue when selling an inherited property…
When your loved one passes and leaves you with a property, it might be a meaningful gesture but, the truth is, an inherited property is not always convenient to own. There are additional bills, expense, maintenance, upkeep, and stress; it can be time-consuming.
So, if you are thinking of selling, you might first be thinking about selling with the help of a real estate agent. However, you might be surprised to learn that you have options that you may want to consider as well. In fact, did you know you have 4 financial options you can pursue when selling an inherited property in Dallas/Ft. Worth?
First, Let’s Talk About Option #1, Selling Through us, at The People’s Realty Group, Inc...
The benefits of selling with a real estate brokerage are plentiful. Such as the guidance in preparing your property to receive the highest and best offer quickly, as well as alleviating yourself of the documentation and rigors of the selling process. While this method may take a short amount of time, you can rest assured that we will manage the process professionally.
So, what are the other options?
Second, Let’s Look at The Other Options…
Option #2. Refinance
One option, which is a type of selling, is to refinance the property with a bank and use that money for other things. Although you will still own the house, this is a financial option that you might consider if you would like to pull equity from the property, before converting into an investment property.
You can still use the house, or rent it out, while paying off the loan via a mortgage to the lending institution.
Option #3. Rent To Own
Another option is to sell the house over the long-term by selling to a tenant. Typically, these are tenants who can’t get a mortgage but want to own a house – so they’ll pay you rent and over time they’ll be able to buy the house (either by paying you an additional amount above their rent that will go toward the purchase of the property, or, by waiting until their credit is cleaned up to purchase the house with a mortgage.)
Option #4. Sell Fast for Cash
One little-known option that owners of inherited properties might enjoy is the ability to sell the house fast for cash. The People’s Realty Group can assist you with arranging for a house-buying company that will often buy your house “As-Is” for cash, usually in as little as 7-days. It is fast, simple, and does not require any work.
There you have it! 4 financial options you can pursue when selling an inherited property in Dallas/Ft. Worth!
Thinking about selling your inherited property? We can help! Call us today at (469) 969-5771.