It’s never easy to lose a parent. Having to sell your childhood home can be emotionally draining, especially if it needs a lot of repairs or updating. However, you may need to sell it quickly, especially if you need to settle outstanding debts. Inherited houses can be a burden.
Once you’ve figured out the estate status, let’s review how you can sell the house quickly and hassle-free, as well as the pros and cons of each. You can sell the house to a cash investor, list it on the MLS with a real estate agent, or even sell it yourself (FSBO, for sale by owner). Alternatively, you might choose to keep the house as a rental or even move into it yourself.
Sell the Inherited House for Cash
Selling your parent’s home for cash can be an attractive option, especially if you need to do it quickly or it needs a lot of work. This is usually the quickest option with the least amount of decisions that need to be made. Depending on the number of heirs, decisions can be difficult or emotionally charged.
Pros
- It’s a simple, no-pressure process. After your loved one dies, the last thing you want to be dealing with is high-pressure sales tactics. Here’s how our process works at Sell Now Iowa. You’ll receive a verified cash offer within 24 hours of a quick walk-through at your property. We respect you, so there’s no pressure or obligation to accept within a short amount of time.
- No repairs or updates are needed. Cash home buyers will purchase properties as-is, so you won’t need to repair anything or do any expensive updates.
- There aren’t any contingencies. This may differ based on the company you work with but Sell Now Iowa buys without contingencies.
- You can close quickly. Sell Now Iowa handles the closing process in-house so it’s quick and efficient. You won’t have to worry about long wait times or rescheduling.
- You can leave furniture behind. Moving heavy items is a pain. If you work with Sell Now Iowa, our clean-out crew will take care of any furniture or other items that you don’t want.
Cons
- You may not make as big of a profit. It’s convenient to sell a house for cash, especially if it’s not in good condition. Companies who give you a cash offer often plan to renovate and resell the house.
Sell It Through a Real Estate Agent
The most traditional way to sell a home in Des Moines is through a real estate agent. While it will likely net you a bigger profit than selling to a cash home buyer, there are a few strings attached.
Pros
- You’ll make a bigger profit. Selling your parent’s home through a real estate agent is likely to net you a larger profit.
Cons
- It might take longer. It’s unlikely your property will sell within the same timeframe as receiving a cash offer, which is 24 hours. Depending on the market, it could be weeks or months before you get an offer.
- You may need to pay for repairs and anything else the home inspection uncovers. While you can list a home as-is, you still may need to negotiate with the buyer over potential issues.
- You’ll have to pay a commission. Expect to pay your real estate agent around 6% in commission for selling your property.
- You’ll need to clear out the home. This can be an overwhelming process, especially if you need to hold an estate sale.
For Sale by Owner (FSBO)
Selling a house via for sale by owner is gaining popularity. But you’ll need to be prepared to do a lot of work.
Pros
- You’ll pay a smaller commission. You’ll still make a bigger profit and will probably pay a smaller commission than if you worked with a real estate agent. Most FSBO companies charge a flat fee, which covers listing and closing costs.
Cons
- You’ll still have to pay a commission. Although this commission is likely lower than what you’ll pay a real estate agent, it still comes out of your profit.
- You’ll do most of the work that a real estate agent does. You’ll have to take care of photos, staging and showings, unless you pay more to have someone else handle this for you. This can be overwhelming when you’re dealing with the loss of a parent.
- You may need to pay for repairs and anything else the home inspection uncovers. Like we discussed earlier, you may be on the hook for repairs and other things a potential buyer wants fixed.
- You’ll still need to clear out the house. If there’s a lot of stuff to get rid of, you may need to host an estate sale or clear everything out yourself. Potential buyers prefer a home that’s either staged or empty.
Trust Our Team of Experienced Cash Home Buyers
At Sell Now Iowa, our number one goal is to treat you with respect, especially when you’re dealing with a tough situation. Our team of real estate professionals has 20-plus years of experience, but more important, we’re honest and genuine.
When you need to sell your parent’s home in Des Moines quickly, we’re a trusted option. We buy houses for cash in Des Moines and surrounding areas. Call us at 515-531-2274 to request your no-obligation, no-pressure cash offer today.
