How to make the most of your unexpectedly inherited home during Covid 19 and an uncertain market

Losing a family member is never a pleasant experience and is oftentimes followed by months of estate settling and doling out their belongings to others. In the case of families experiencing loss, one of the most challenging items to get rid of is the home of the deceased. Inheriting a home can be a great thing, but when a home is inherited unexpectedly it can burden the new owner. Not only do new properties bring on increased property tax, they require maintenance, which is difficult for someone that does not reside in the property. Most people realize cash is more beneficial than a vacant property in their name, so they choose different avenues to accomplish the same goal, cash in their pocket. There is a simple way to turn your property into cash without going through the process involving realtor commissions, repairs, and inspections.

Most of the population believes to maximize their value and sell their property, listing with a realtor is the best solution, but that is not always the case. Listing with a licensed realtor will cost up to 6% in commissions even if the property brings less than the seller anticipates. Additionally, realtors understand the things most retail buyers look for in homes, as a result they oftentimes push repairs and updates on sellers prior to marketing the property. After sellers go through the updating and listing processes and finally recieve an offer, they are then bombarded by inspections and appriasals. If their home somehow slips through the strict approval of the inspector, an appraisal dictates how much banks will lend on the property, leading to negotiation if their appraisal is less than anticipated. There is no quesiton that the typical selling process causes sellers unwarranted stress.

The current real estate market is not the same market that proceeded the COVID-19 pandemic. Homes have been selling for more than usual as they are just one of the many things in short supply these days, but this trend seems to be slowing. Many experts have drawn parallels between the COVID real estate market and the mortgage meltdown of the late 2000s. As lenders have slashed rates to combat unemployment, buyers are buying homes that simply aren’t worth it. As rates begin to rise again and demand seems to slow, we could be coming upon another real estate market crash. Due to the state of the market, listing with a realtor would seem like a sensible solution; however paying someone who’s pushing you to over improve your property and then sell it for a number that it may not appraise for, puts sellers in a tough situation. Selling a home takes at least a month if a loan is involved, and in most realtor derived sales loans are involved; this extra time and the contingency of an appraisal does not benefit sellers fighting time as the market’s outlook is bleak.

Painting the traditional route of selling real estate in a negative light should lead many to ask what is the new sensible way to turn their newly acquired real estate into funds they can use. Answering this question is simple, consulting real estate acquisition firms, such as Helpful Homes, allows sellers to capitalize on profit and skip the inevitable stress of most real estate transactions. By purchasing property with personal funds, Helpful Homes can close as soon as one week, a benefit to sellers wanting to sell their home while the market is strong. Not only does Helpful Homes purchase properties for cash, they purchase them “as is” with no appraisal contingencies. Properties needing extensive repairs and properties full of useless belongings fall into this category. Inheriting a home full of useless belongings can be quite a nightmare and Helpful Homes is happy to save sellers the stress and buy the property “as is.”

Loosing a family member is a stressful ordeal as is and taking care of that persons’ belongings, especially real estate which presents another set of challenges. Fortunately easier solutions have evolved over time as typical real estate transactions have become so hectic. Helpful Homes, a real estate acquisitions firm, has been assisting homeowners through probate situations in North Carolina, Florida, and Virginia. By purchasing homes for cash, Helpful Homes gives sellers the ability to avoid sudden shifts in the market and unnecessary inspections/appraisals. The deceased leave properties to family members hoping to bless them with assets, sometimes forgetting the holding costs and issues that come with vacant properties, acquisition firms such as Helpful Homes help homeowners reach the benefits their family members intended when they drew out their will.

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