There can be an awful lot that goes into settling a loved one’s affairs after they pass on. While some of that can be quite straightforward, other aspects of it, like determining what to do with their home, can be more complex. Such a decision can be the root cause of some very strong emotions as well. One option is to sell the home. But, when would it make sense to sell the inherited house as-is?
When You’re Paying Off Debts
Not everyone has all their debts squared away and paid off before they pass away. When outstanding debts are left behind, the assets and estate of the deceased are typically used to resolve them. Therefore, if you are having to deal with your loved one’s unresolved debt, sometimes the best thing to do is to sell the home as-is so the money can be put towards resolving the debt. Generally speaking, the sooner that outstanding debt is resolved, the better. Selling the home to a home buying company will speed up the process.
When It’s the Proceeds That Are Meant to Be Inherited
Sometimes a loved one’s home is meant to be inherited by an heir. Other times, it’s meant to be sold and the proceeds from the sale are to be divided amongst beneficiaries. If the latter is the case, then selling the home as-is may be what makes the most sense, especially if the home is in decent condition already.
When You’ve Inherited a House You Can’t Keep
Not everyone who inherits a house wants to keep it–and even those who want to may not necessarily be able to. If you’ve inherited a house you can’t keep (or don’t want to keep), selling it as-is may be the perfect solution. That way, you don’t have to invest the time and money you may not have into fixing it up. Getting it sold sooner rather than later means that you won’t have to worry about mortgage payments, insurance, utilities, maintenance, upkeep, or taxes on the home for long.
Deciding to sell a loved one’s house as-is is sometimes the best choice you can make. However, that doesn’t mean that it’s an easy decision, or that you won’t feel at least a little sad about seeing a home filled with so many memories move on to a new owner. Still, if time is short, it’s likely your best option. Remember, WNY Home Buyers is here for homeowners in all sorts of situations who need to sell their homes quickly.
Do you need to sell a loved one’s house after their passing? Click here to contact WNY Home Buyers to get started today!