Have you ever heard those old stories about somebody who inherits a house? Usually what happens is something like this – the house they inherited is in a whole different state. The family goes on a road trip to visit, only to find that the house has been empty for years, and has a reputation of being haunted.
Okay, look, that’s not how it is in real life – but there are some similarities to the kinds of real-life situations that people find themselves in when they inherit real estate.
Frankly speaking, in many cases where real estate is inherited, that real estate is not in great shape.
Otherwise, the property might have been sold, and the proceeds put toward the will in question. But maybe someone of advanced age was living in it alone, and wanted to stay the course, instead of going into what’s kindly called a convalescent home. Or maybe it was a vacation property and no one vacationed there for a number of years.
Anyway, what do you do if you inherit a property?
Most of the time, you want to sell, because you already have a home. But that sets up all kinds of questions like how you choose to sell the property, and what the process is going to be like.
At Charleston House Buyers, we help you to skip some of the complications and challenges of going through an entire sale process with a real estate agent. For those who don’t know, real estate agents tend to take 6% of the seller’s profit at deal time. That’s quite a bit of money, for example on a $200,000 property, 6% is $12,000. That’s nothing to sneeze at.
But how do you know if you can bypass that process and sell a home without an agent?
Basically, you have to find a counterparty who is as good as their word. That’s us. We help Charleston property owners to make real estate deals, all the time. We provide fair market pricing according to what the property is worth, not lowball offers, and a lot of the services that people will need on the way to divesting themselves of real estate that could otherwise be money. That’s important, partly because when you own a property – guess what? – you owe property tax on it until it’s sold.
Inheriting a house in Charleston or anywhere can come with an unanticipated set of challenges. Talk to Charleston House Buyers about your options and how you can approach a deal like this for profit.