54. I Inherited A House, What To Do? – Should I Rent Or Sell In Lexington SC?

We Buy Houses In Lexington South Carolina. So we know this can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times. And perhaps you’re thinking, “I inherited a property, what to do with this home? Should I rent it? Should I sell it?  How should I sell my property in Ross Township PA?”.

First, we’re so sorry for your loss. Tons of options open for you, but we can help. We’re seasoned investors and homebuyers in South Carolina, and we’re looking to purchase cash for houses in Lexington each month. Every month we get calls from those who have inherited a property and are looking to sell the home, so the info below are some tips to help you navigate the process.

I Inherited A House In Lexington South Carolina, What To Do Next?

Here are a few important considerations to help you make the right decision:

1) Make Sure The Mortgage Is Paid. This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may force you to refinance into a new loan. If you don’t qualify for a new loan, renting may not be an option for you.

2) The Investment Is Only As Good As The Manager. If dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management isn’t the best use of your time, hire a professional to help you or cash out now.  Some people who inherit homes decide to keep the house and rent it for extra income. That’s a great strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.

3) Property Ownership Costs Money. It’s rare to see a building that’s been perfectly maintained. Most inherited homes need major improvements. Consider hiring a professional property inspector to give you a detailed rundown on what you’ll need to do within the next five years, along with estimated costs. Surprises are very, very expensive.

4) Selling A Property For Top Dollar Costs Money. If you don’t want to deal with making repairs, updating kitchens, improving landscaping, and overall cleanup, don’t worry. We buy Lexington SC houses for cash, as-is.

5) If The Market Will Continue To Grow Faster Than Your Other Options, Hang On To The Investment. We can help you analyze the value of your property today versus the long-term benefits of renting. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don’t have anything better to do with the money and the neighborhood is rising in value, hang on – real estate can be a great investment if you know how to correctly read the market.

6) Uncle Sam Wants A Piece Of The Action. Don’t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.

7) Consider All Your Options. In certain situations, we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time – capturing the best of both worlds. These kinds of deals can be complicated, but our Lexington SC investment experience can help you win.

8) Compare A Few Scenarios. We’ll help you determine prices for any property near Lexington SC – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).

Sell My House In Lexington SC

Selling a property can be stressful. When you need South Carolina home buyers, we’re here to take that stress away, make it a fast and fair experience, and give you the peace of mind you’re looking for but can’t fully enjoy until that pesky home payment is off your back. So if you’re planning to sell your house in SC, check our company out!

Contact Us Now For More Information On How We Can Make You A Fair Cash Offer On Your Inherited House Today! (803) 948-9200

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