How to Sell Your Parent’s House Fast Without the Stress
So, you’ve inherited a home? If you want to sell your parent’s home fast, read on to find out everything you need to do to make the process simple and stress free.
Whether your parent has passed away, is downsizing, or is entering a senior care center, inheriting your parent’s home can be complicated. This is especially true if you don’t know what to do with the home or simply don’t want to deal with the burden of owning it.
Today we’re going to help guide those that have inherited a family home and want to be rid of it sooner than later. In fact, we’ve listed everything you need to do to sell your parent’s home fast.
How to Sell Your Parent’s Home Quickly
Inheriting a home that you don’t want can be a pain. After all, you have your own life, are trying to deal with the death or incapacitation of a parent, and might not know a thing about real estate. That’s why we’ve outlined the things you should know and do to sell your parent’s fast.
1. Understand How Long it Might Take
When it comes to selling your parent’s house, it’s important to know that it might take longer than you expect. Of course, every situation is different. However, on average, it takes about 110 days to sell an elderly parent’s home. But this only if everything goes according to plan. And we all know this is not always the case.
That said, there are ways to speed up the process and ensure a smoother sale.
2. Know at What Stage You Can Sell the House
Knowing when you can sell your parent’s house after inheriting it will help keep your stress levels down and make the process of selling easier.
Here are the times you can sell an inherited home:
- During Probate: The executor or administrator can distribute the proceeds of the home after it sells to the beneficiaries after probate is done. This is why it’s important your parent has a will in place before they pass and has named an executor of the will.
- After Title Transfer: When the title of your parent’s home transfers to you after probate, you are the new legal owner and are free to sell the property.
- When Held in a Trust: If your parent’s home is held in a trust, it can be sold without probate. The trustee is allowed to sell the house while it’s still in the trust and transfer the funds to you after the fact.
- If It’s Deeded to You: If your parent has deeded their home to you in a trust, you can sell it right away.
3. Pay the Bills and Collect the Paperwork
If you don’t want any hang-ups during the sales process, you must make sure bills related to the home are current. For example, the mortgage, utilities, and any maintenance bills must be paid before you finalize the sale of the home. Just because the owner of a home passes doesn’t mean the lender and other companies will forget about the bills that are due.
Another step to take once you’ve inherited a home is to gather all the financial documents related to home.
If you plan to distribute the estate to a buyer, you’ll need these documents on hand:
- Receipts from bills (contact creditors and freeze your parent’s credit)
- Investment documents (stocks/bonds information)
- Insurance documents (privately owned or from an employer)
- Homeowner’s insurance policies
- Bank account information
Once you’ve gathered the documents you need, take care to responsibly dispose of the rest. Identity thieves love to get their hands on the documents on those that have passed. Make sure to eliminate all documents with sensitive information on them. This will prevent any problems in the future when it comes time to finalize a sale and transfer ownership to your buyer.
4. Declutter the Home
It can be tough to go into someone else’s home and declutter. This is true even if the home belonged to your parents. In fact, trying to clear out your parent’s home, whether they have passed or not, can be emotionally taxing and time-consuming. Not to mention, it feels insensitive the basically throw out years of memories. But the truth is, you have to depersonalize the home if you want to attract buyers.
If you want to sell your parent’s home fast, consider hiring a professional to help you declutter the home. This might mean throwing out old items, donating items to a local thrift shop, or just storing items in a storage unit to be dealt with later.
5. Price the Home Right
If you decide to use a realtor to help sell your parent’s home fast, make sure you set the right price. Knowing the current market will help you entice high-quality buyers that will happily buy the property without much negotiation.
If you price too high, you risk having a home (that you don’t even want) on the market for longer than expected. If you price too low, you risk selling yourself short and not collecting the money you deserve.
6. Don’t Make Too Many Upgrades
It’s not recommended that you make a lot of renovations to your parent’s house if you end goal is to sell it quickly. Sure, upgrades can net you a higher purchase price and more profit in the end. But experts say that when you inherit a parent’s house, major renovations aren’t really helpful.
The circumstances surrounding an inherited home are not typically positive. This is not the time to take on major projects if you’re in a rush. Instead, make small cosmetic changes, such as adding a fresh coat of paint, cleaning the carpets, and performing minor landscaping cleanups. Then, put the house up for sale.
7. Take the Easiest Route and Sell As Is
If you’re really in a time crunch, the easiest way to sell your parent’s house fast is to sell it as is to a company like Homestead Road.
Selling your newly inherited home as is to cash buyers like Homestead Road is beneficial for many reasons:
- There are no costly real estate commissions
- No repairs or upgrades are required
- You don’t have to clean a thing – they’ll do it for you
- There are no time-consuming showings
- You won’t have to conduct inspections
- You’ll never get hit with hidden fees
- You will get a fair, all-cash offer and move forward with your life
When you sell your parent’s house as is to Homestead Road, you don’t have to worry about a thing. We know that inheriting a home that you don’t want comes with complications you’d rather just avoid. That’s why we’re ready to offer you the best all-cash offer possible, no matter what condition the home is in. And to make things even better, we strive to provide the highest level of customer service during your trying time.
If you’ve recently inherited a parent’s home, and are ready to sell it without any added stress, get in touch with Homestead Road today and see how we can help. We guarantee to show you how easy it is to “Feel the Joy” that comes with selling your house as is, despite the reason behind having to sell.