When a loved one dies, you may inherit their home. In many cases, it’s necessary to sell the home to divide the proceeds among the heirs. Or, you may not want the house, especially if it’s not in very good condition. Before you sell “as-is,” you should learn about the cash home buying process.
What “As-Is” Means
The term “as-is” means the house is offered in its present condition. When you inherit a home, especially from an elderly person or someone who was ill, the house may need fixing up. Major repairs may be needed, or the house may be dirty, cluttered, or in distress.
Often, no funds are available to invest in repairing and sprucing up the home for a sale. Or, you or the other heirs may not live close by, or you don’t have the time to do the repairs yourselves. You may then decide to sell the house “as-is.”
Problems with Selling “As-Is”
It’s common to see an inherited home listed on the market “as-is.” The designation makes prospective buyers aware that the house could have problems, and that if they buy it, they’ll be responsible for making any repairs necessary.
Some buyers will see this as a bargain since “as-is” houses often sell for under-market value. But most people these days are looking for a home they can move right into without much fuss or expense. The house could linger on the market for months before you get an offer.
How a Cash Buying Company Can Help
Many people with an inherited home turn to a cash buying company for a quick sale. Cash buying companies don’t require you to make repairs on the home, but will make an offer on the house “as-is.”
The sales process is quick and easy. You just call and give the basic information about the house, such as size and location. A representative will meet with you and make an offer within 24 hours. You can often close within a week or two.
Selling an inherited property to a cash home buying company has many advantages. You don’t need to make repairs, the process is fast, and you never have to pay commission or closing costs. It could be a good choice for you.
Have you inherited a home in Utah? Sell it fast and “as-is” to a local cash home buying company!