Inheriting a house can be a bittersweet experience. On one hand, it can be a financial windfall to a valuable asset that can be used to improve your life. On the other hand, it can be an emotional burden, as you will have to deal with the responsibilities of inheriting the property. However, it doesn't have to be stressful or complicated. Here are a few steps to get you started on a smooth and successful inherited home sale:

Determine the value of the house

One common mistake newbie house sellers make is selling a house with exaggerated prices. There are several ways to determine your property's value, including hiring a professional appraiser, consulting with a real estate agent, or using online tools such as Zillow or Redfin. Once you know the property's value, you can decide on a realistic asking price for the sale.

Understand the tax implications

Inheriting a house can have tax implications for the estate of the deceased and you as the beneficiary. As the beneficiary, you may be responsible for paying capital gains tax on any profit since the deceased's purchase. However, always consult a tax professional before any sale to minimize tax liability.

Make necessary repairs or updates

You don't have to completely renovate the property, but making minor repairs or updates will make it more attractive to buyers. In addition, it also increases the value of the property and helps you get a better price.

Hire a reputable real estate agent

A real estate agent is an invaluable resource when selling an inherited property. Look for an agent with experience selling similar properties in the area with a proven track record of success. They come in handy in pricing the property appropriately, marketing it effectively, and negotiating with potential buyers on your behalf.

Or... let us take care of everything!

If you do not want to make any repairs, deal with a real estate agent, have high closing fees, and don't want to touch the property at all... we can help!

Our team at Manifest Home Buyer is ready to purchase the home exactly how it is. Our knowledgeable team works hard to guarantee the process runs smoothly and effortlessly. With us by your side, you'll never have to worry about navigating complicated legalities or paperwork again.

Contact us today to learn more about inherited home sale and avoid the potential financial burden!