Selling an inherited property

If you are looking to sell your house fast in Florida or Tennessee this article will give you different perspectives so you can make the best decision. Working with a real estate investor has advantages for those in special situations like the two categories of inheritance and landlord retirement which are covered in the dialogues below. However, the reach of an investor’s services can extend into categories like medical emergencies, divorce, job relocation and unwanted houses in sub-par condition.

Karen: (sighing) We appreciate you meeting with us. As you know, after Dad passed, he left us this house in his will. With everything that’s going on, we just want to sell the house quickly. As for the rest of the family… well, they’re not making this easy.

Barbara: I understand completely, Karen. First, allow to me say that I’m sorry for your loss. Selling a house fast, especially one tied to an estate, can be tricky. But that’s why I’m here – to make the process as smooth and transparent as possible for all parties involved.

Scott: Smooth would be a miracle right now. The true colors of our cousins are coming out over what’s “fair” and they’re making everything difficult. Karen’s the executor, and they’re putting undue pressure and blame on her.

Karen: It’s exhausting and disappointing. They don’t seem to get that I’m trying to follow Dad’s wishes and do everything in an orderly way. He wanted us to split everything equally, but the term “equally” is hard to define when you’re dealing with people on the sidelines.

Barbara: I’ve worked with families in similar situations. Emotions run high and people say things that you wouldn’t expect. But it’s important to stick to the facts beneath the stress. Let’s start by focusing on the condition of the property, its market value and how quickly you need it to be sold. Also, there might be some underlying situations that we need to be mindful of. With the voices of all the heirs involved what are your priorities?

Karen: Speed, definitely. I understand that I need to address this issue head on. None of us want to drag this out. The house has been sitting empty, and we’re already mail from the city of Zephyrhills about the uncut grass.

Scott: Yeah, we’re spending money on lawncare, maintenance and utilities. The longer we hold onto the property, the more it costs us. Plus, it’s emotionally draining to keep coming back here.

Karen: One big fear I have is if squatters move in. That would add another burden to an already difficult situation.

Barbara: Understood. Let me ask: Have you had the house inspected and appraised?

Karen: Not officially, no. We’ve had a realtor look at it and give a rough ballpark figure, but that’s about it.

Barbara: Got it. Well, as an investor, I’m not here to list the house like a realtor would. My goal is to give you a cash offer, which can significantly speed up the process and curtail all the negative sentiment. You’ll be able to skip inspections, appraisals, repairs and renovations.

Scott: That sounds great, but of course there’s the worry of the cash offer being fair. We’ve all seen those signs on the side of the road – “We Buy Houses for Cash” and all that. There’s this feeling of shadiness over what investors do.

Barbara: (chuckling) I get that a lot. Let me explain how things work behind the scenes. My offers are based on the current market value of the house, minus the cost of repairs and my expected profit margin. The numbers will be transparent and detailed. That way, you’ll understand exactly where I’m coming from.

Karen: Okay, as you can see the house does need work. The roof is worn, the kitchen is outdated, and there’s some visible water damage in the guest bathroom. I suppose all of that would be factored into your offer.

Barbara: Those are definitely things that I anticipate so they’re not deal breakers. I specialize in buying houses as-is, so you don’t need to worry about repairs or renovations. I’ll estimate the repairs and combine them into my offer. You don’t need to do be concerned about that, or anything else for that matter.

Scott: That’s a relief. We’ve spent so much time cleaning out Dad’s belongings and I don’t think we have the energy or resources for a renovation.

Karen: Can you give us a tentative timeline? How quickly can we close? Like I said, all of us need to sell this house fast.

Barbara: Typically, we can close in as little as 2 weeks. Once we agree on the terms, my team will handle the paperwork plus the title and lien searches. You’ll get your cash at the closing which will happen at a title company.

Karen: 2 weeks? That would be wonderful. But how does it work with the rest of the family? They’re expecting to be part of the details.

Barbara: Since you’re the executor, you have the sole authority to sell the house. However, it’s wise to keep communicating with the other heirs. I can provide a detailed breakdown of the offer, so you’ll be able to show them how I arrived at the number.

Scott: That might help. They’ll still complain though. Each one says “I want to sell my house fast” but I’m sure they’ll have their own opinions about the sale price.

Karen: (nodding) And what about the legalities? I need to make sure everything is done properly because the last thing we need is someone accusing us of not following the will.

Barbara: Absolutely. I work with a title company that has a lot of experience in these situations. They’ll ensure the sale complies with Florida law and that the proceeds are distributed to the beneficiaries according to the will. And if you would like, I can also recommend a good attorney who can review everything.

Karen: That’s reassuring. I just want this to be over so we can all move on with our lives. This house has so many good memories, but holding onto it is putting a dark stain on all of that.

Scott: Agreed. Every time I walk in, I half-expect Dad to be sitting on the back porch smoking his pipe. It’s tough, but selling feels like the only option.

Barbara: It’s never easy, but I believe you’re making a smart decision. Why don’t we take a walk through the house so I can look at its condition. After that, I’ll determine the costs and create a cash offer for you. How does that sound?

Karen: Sounds good. One last thing – if we accept your offer, when does our responsibility end for paying bills and yard maintenance?

Barbara: As soon as we sign the purchase agreement, I can take over the utilities and maintenance. At that point you’ll be free of those responsibilities.

Scott: That’s a huge relief. Let’s see where this takes us.

Karen: (smiling slightly) Thank you, Barbara. We were skeptical at first, but you’ve put us at ease. Let’s go take that tour.