5 Reasons Inherited Homes Are So Hard to Sell

Rarely does family have time to grieve after a loved one’s passing. Often, those that have lost someone close to them have to first complete all of the many different logistical tasks that arise. From planning the funeral, checking in on guests, and dealing with both legal and financial matters, it is not common for someone to simply be able to find time to mourn.

Indeed, sometimes the logistical work can be so difficult and time consuming that it may even cause additional stress. That is often the case when someone inherits a property.

Inherited Homes Are Difficult to Sell

The home is often the largest asset that someone has before their passing, and in most cases they’ll leave it to at least one heir. In some cases, that heir may want to live in the home. But most of the time, the home is put up for sale, and any revenue from the sale is divvied between heirs.

Yet there is a problem. Inherited homes are notoriously difficult to sell, and the sellers often struggle to move the home quickly like they need to. That is because these homes have some unique challenges, including:

• They Are Often in Disrepair – When someone has lived in a home for a while, things break down. As long as they are the ones living there, they have the choice whether or not they want to repair it, and in many cases (especially for those on a fixed income), they choose to wait. In order to sell a home, the home usually needs to be in peak condition – something that is both time consuming and very expensive. Most heirs to inherited properties simply do not have the money to make thousands of dollars in repairs just to sell the home on the market.
• The New Owners Are Not Local – You don’t have to be a local to sell a home, but it helps. Unfortunately, usually the heirs are not local, which means they do not know any real estate agents, they do not know what people want in the area, and they’re not around to help the process. It also means they’re trying to sell quickly, something that is also hard to do with inherited homes.
• People Don’t Like Inherited Properties As Is – When someone passes, they often have a lot of “stuff.” That stuff has to be removed before the home can be for sale. In addition, the idea of buying a home right after someone has passed usually causes people distress, especially if they passed in the home. This poses many difficulties.
• They May Need to Be Sold Fast – It’s not necessarily that inherited homes can’t be sold. Rather, it may be very difficult to simply sell the inherited home quickly. You may not live in the Sacramento, Placer, or El Dorado County areas, you may not be able to afford mortgage payments, you may be in need of the money to cover funeral costs – whatever it is, if you need to sell it fast, it is going to be more difficult.
• There Are a Lot of Other Concerns – After someone passes, there are so many other things to worry about that focusing on what it takes to sell a home is rarely the top priority. There is often little time to handle the funeral needs, let alone the cost of cleaning, hiring of repair specialists, finding a real estate agent, waiting for offers… There are often far too many things to do.

One of the reasons we buy homes for cash here at Homestead Group is because of the challenges that inherited homes cause for others. We buy homes for cash as is (you don’t even have to remove the trash if you do not want to), and we close in 7 days, so that selling a home in any condition is a much easier and more straight forward process. We want to buy your home. If you’re interested, please call Homestead Group today.