Settling the estate of a loved one can be overwhelming, especially if there is an inherited home to be sold. But even though it’s an emotional time, you must make a decision about the sale. If that’s the case, take a moment to think about the advantages of selling the home “as is” for cash.
Making Expensive Repairs
Selling a house “as is” means you are putting it on the market regardless of what condition it’s in. According to a Zillow study, the average home seller spends about $18,342 on repairs and improvements before selling. For many, these expenses can be daunting, especially if you lack the funds. However, a house listed “as is” may not sell quickly. Prospective buyers often don’t want the added cost of fixing up the house.
Real estate experts note that “Buyers are typically wary of properties listed ‘as is’ due to the potential hidden costs of repairs. However, selling for cash can alleviate this concern, as cash offers are generally made ‘as is,’ with no required repairs or inspections”.
Cleaning Up the House
Listing the house on the market means you must make the home look presentable for home showings. That can mean hours of physical labor of decluttering, cleaning, and polishing. It can be exhausting and emotional to work on such a deadline.
In a cash sale, there are no home showings and no open houses. As a real estate investor explains, “Cash buyers are often more concerned with the investment potential of the property rather than its current aesthetic appeal. This flexibility allows sellers to forgo the usual preparation involved in traditional sales” .
Waiting for an Offer
With a traditional sale, waiting months for an offer and even longer to close can delay settling the estate and closing probate. Meanwhile, utilities and associated costs continue to accrue. A report by the National Association of Realtors indicates that the average time on the market for a home is approximately 56 days.
An “as is” cash sale can eliminate this waiting period. Offers are typically received within 24 hours, and closings can occur in a week or two. This expedited process can be particularly beneficial for estate settlements.
If you’re thinking of selling an inherited property “as is,” find out how a cash sale could benefit you. With no commission and no closing costs to pay, you could easily come out ahead. And, by speeding up the sales process, you could complete the sale within weeks.
If you need to sell an inherited house in Utah “as is,” learn more about cash sales here.