“To inherit property is not to be born. It is to be still-born, rather.” Henry David Thoreau, nineteenth century American Author.
Why such a despondent view of inheritance? Could it be the problems associated with taking care of and selling an inherited property before the benefactors can reap the benefits?
If you and your family have inherited a property, there are various reasons why selling it to a cash buyer quickly can benefit all parties concerned.
Firstly, the property could have been lived in for sometime and has become dated or even distressed. You may need to spend a considerable amount of time and money to update it before you can attract any interest from buyers. You will need to finance the work before the property is sold. What about all the trouble of finding reliable builders and managing the work, especially if you do not live close to the property? If there is more than one benefactor, any potential increase in the value of the property would only make each individual’s share a marginal gain.
Secondly, if there is more than one benefactor, some may need to release the cash more urgently than others. Selling through an estate agent is unpredictable, especially for properties that require renovation. Very often they are left on the market for a long period of time due to unrealistic asking prices. It is not uncommon to see inherited properties left unsold for a year until the sellers decide to drop the price sufficiently enough to attract buyers and developers. If you consider that you still need to pay your estate agent a hefty fee even after you have reduced the price and waited many months, it is very uneconomical.
Lastly, local yobs and vandals can spot a vacant property a mile away. Vandalised properties with windows boarded up will put off most prospective buyers. As a result, the property could be neglected by the estate agent. Why let it happen?
A much more efficient and economic way to release the money from an inherited property is to sell it to a cash property buyer. If you are willing to reduce the price of the property, which you would expect to do with an agent anyway, a Quick Home Completion consultant will give you a written offer within 48 hours just after one viewing. There is no need to do any work on the property as all conditions are considered. You can then receive the cash within 28 days on completion. No fuss, no hassle.