Inheriting a property is a thoughtful gesture, but it often comes with a set of challenges, from bills to maintenance and upkeep. The question is, what can you do when you’re looking to sell this inherited property in Sacramento? Let’s explore the three savvy financial options you can pursue:
First, Let’s Talk About the Traditional Realtor Sale
Selling through a real estate agent is a tried-and-true approach, but it may not be the quickest or most cost-effective. You’ll likely need to invest in repairs and renovations, deal with closing fees, and pay a significant agent commission. Additionally, the process can stretch out for months, which doesn’t suit everyone’s timeline.
Now, Let’s Look at the 3 Financial Options
- Refinance for Cash
A lesser-known option involves refinancing the property with a bank to free up funds for other ventures. While you’ll still retain ownership, this financial choice can be ideal if you need immediate cash. You can continue to use or rent the house, but you’ll have to repay the bank loan over time.
- Rent to Own
Another intriguing option is to offer your property for a rent-to-own agreement. This attracts tenants who may not qualify for a mortgage but aspire to be homeowners. They’ll pay you rent and, over time, accumulate the means to purchase the house. This can happen either by paying an additional amount above their rent (which goes toward the property purchase) or waiting until their credit improves to secure a mortgage.
- Sell Quickly for Cash
Here’s a game-changer: you can skip the agent and sell your inherited property fast for cash. By collaborating with a reputable home-buying company like Laurel Buys Houses, you can often close the deal in just a few days. The best part? No need to invest in costly repairs or renovations – we buy houses as-is. It’s a swift, hassle-free solution that puts cash in your hands.
There you have it, three financially savvy options to consider when selling an inherited property in Sacramento. If you’re interested in selling quickly for cash, we’re here to help. Click here to fill out our form, or call our office at (916) 476-2381. We make selling your property a breeze!