First, we\u2019re so sorry for your loss. This can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times.<\/p>\n
You’re thinking, “I inherited a house, what to do with this house?” Should I rent it? Should I sell it? \u00a0How should I sell it?<\/p>\n
Tons of options open for you, but…<\/p>\n
… we can help.<\/p>\n
We\u2019re seasoned investors in Detroit real estate<\/em>, and\u00a0we’re looking to buy\u00a0several houses each month in the Detroit MI area. Every month we get calls from those who have inherited a house and are looking to sell the house… so the info below are some tips to help you navigate the process.<\/p>\n Here\u2019s a few important considerations to help you make the right decision:<\/p>\n This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage<\/strong><\/em> and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may force you to refinance into a new loan. If you don\u2019t qualify for a new loan, renting may not be an option for you.<\/p>\n If dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management isn\u2019t the best use of your time, hire a professional to help you or cash out now. \u00a0Some people who inherit homes decide to keep the house and rent it for extra income. That’s a great strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.<\/p>\n It\u2019s rare to see a building that\u2019s been perfectly maintained. Most inherited houses\u00a0need major improvements.<\/p>\n Consider hiring a professional property inspector to give you a detailed rundown on what you\u2019ll need to do within the next five years, along with estimated costs. Surprises are very, very expensive.<\/p>\n If you don\u2019t want to deal with making repairs, updating kitchens, improving landscaping and overall cleanup, don\u2019t worry. We buy Detroit houses<\/a><\/strong>\u00a0for cash, as-is.<\/p>\n We can help you analyze the value of your property today versus the long-term benefits of renting. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don\u2019t have anything better to do with the money and the neighborhood is rising in value, hang on \u2013 real estate can be a great investment if you know how to correctly read the market.<\/p>\n Don\u2019t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.<\/p>\n In certain situations we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time \u2013 capturing the best of both worlds. These kinds of deals can be complicated, but our Sterling Heights investment experience can help you win.<\/p>\n We\u2019ll help you determine prices for any property near Sterling Heights – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).<\/p>\n First, we\u2019re so sorry for your loss. This can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times. You’re thinking, “I inherited a house, what to do with this house?” Should I rent it? Should I sell it? \u00a0How should I sell it? Tons […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[52,64],"class_list":["post-1758","post","type-post","status-publish","format-standard","hentry","category-sellers","tag-inherited-house","tag-sell-house-fast"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/comments?post=1758"}],"version-history":[{"count":0,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1758\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/media?parent=1758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/categories?post=1758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/tags?post=1758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}I Inherited A House, What To Do Next?<\/h2>\n
1) Make sure the mortgage is paid.<\/strong><\/h3>\n
2) The investment is only as good as the manager.<\/strong><\/h3>\n
3) Property ownership costs money.<\/strong><\/h3>\n
4) Selling a property for top dollar costs money.<\/strong><\/h3>\n
5) If the market will continue to grow faster than your other options, hang on to the investment.<\/strong><\/h3>\n
6) Uncle Sam wants a piece of the action.<\/strong><\/h3>\n
7) Consider all your options.<\/strong><\/h3>\n
8) Compare a few scenarios.<\/strong><\/h3>\n
Just call us today at (313) 217-9851 or contact us<\/a> now for more information
\non how we can make you a fair cash offer on your inherited house today!<\/h3>\n","protected":false},"excerpt":{"rendered":"