3 Financial Options You Can Pursue When Selling an Inherited Property in Baton Rouge

If you’ve inherited a property and you’re thinking about selling it, you might have more options than you realize. Read this blog post to find out the 3 financial options you can pursue when selling an inherited property in Baton Rouge…

When a loved one passes and leaves you with a property, it might be a meaningful gesture but, the truth is, an inherited property isn’t always the blessing that it might seem like. Bills, maintenance, upkeep, and stress all come with it, and it can be time-consuming.

Most people reach out to a real estate agent first, but how may be surprised to learn that there are several options that may be a better fit for your situation. It’s your lucky day! In this article we will cover 3 financial options you can pursue when selling an inherited property in Baton Rouge?

First, Let’s Talk About Selling Through An Agent…

Financial Options You Can Pursue When Selling an Inherited Property Baton Rouge

For many people, selling through a real estate agent is the best option. However, real estate agents don’t like to sell houses that need work. They may ask you to fix the inherited property first. There also are closing fees and an commission paid to the agent. Finally, this method of selling can take months, especially if the house needs work. All these factors have to be considered, and the costs add up!

So, what are the other options?

Second, Let’s Look At The Other Options…

Option #1. Refinance

One option, which is not exactly selling, but will give you a load of cash in many cases is to do a cash out refinance of the property. You will still own the house, but are basically taking a loan on it and if you rent it out, your tenants can pay back the loan! This isn’t great for people who don’t want to deal with the house anymore, or if the house is beat up. But it is good if you need a bit of money and want to keep the house.

Option #2. Rent To Own

Another option is to sell the house over the long-term by selling to a tenant. Typically, these are tenants who can’t get a mortgage but want to own a house – so they’ll pay you rent and over time they’ll be able to buy the house (either by paying you an additional amount above their rent that will go toward the purchase of the property, or, by waiting until their credit is cleaned up to purchase the house with a mortgage.) They usually pay a bit of money down too, so you have security in case they damage the property.

Option #3. Sell Fast For Cash

One little-known option that owners of inherited properties might enjoy is the ability to sell the house fast for cash. We help a lot of people in this situation. Instead of selling through an agent (and hoping they can find a buyer, which can take months), you can work with a house-buying company (like what we do here at BuyhousesBR) and they’ll often buy your house as-is for cash, usually in as little as a few days. It’s fast, simple, and doesn’t require any work. We tell our clients not even to bother cleaning the house. Just take whatever you want from it and leave the rest for us to sort out. We also cover all closing costs, so the amount of money we agree on is the amount of money you will receive, no commissions, closing fees, or anything else!

There you have it! 3 financial options you can pursue when selling an inherited property in Baton Rouge!

Thinking about selling your inherited property fast for cash? We can help! Click here now and fill out the form our call our office at (225) 288-7209.

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