If you’ve received a property as an inheritance and want to sell it, be sure to check out this blog post for 3 helpful tips on how to price your inherited home in NC for sale…
Did you inherit a property that you’re now considering selling? While getting a property from a loved one who has passed away can feel like a special gift, it can also turn into a heavy financial responsibility. Selling it can be a smart choice, allowing you to make the most of that inherited value. However, if you haven’t sold a property in a while, pricing it correctly might be challenging. Here’s how to set the right price for your inherited home in NC when it’s time to sell:
Tip #1: Price Competitively To Sell Quickly
Some folks set the price of their inherited home based on what they believe the market might offer. However, many things affect this price, and one major question is: how quickly do you want to sell? Listing your home with an agent “on the market” can take a long time, often months, and during that period, you’ll need to cover ongoing costs and upkeep on the property. This can add up quickly and reduce any potential profit.
A lot of sellers find out that pricing their home a bit lower can lead to a quicker sale. They might receive a smaller amount for the house, but they also save on repairs, ongoing costs, and the hassle of waiting, making it a smart choice that balances out in the end.
Tip #2: Avoid Pricing Based On Fond Memories Or Emotion
One of the toughest things for people selling inherited property is figuring out how to price it. It’s easy to get caught up in the happy memories you have of living there. While the house might have a certain market value, your special memories can make you want to set the price higher. This happens a lot!
A smarter way to handle this is to team up with a real estate company. They can help you discover how much they can offer. It’s important to keep in mind that the price may be lower than you thought… not because the house isn’t valuable, but because your lovely memories might have made you see it as worth more than it really is!
Tip #3: Build In Discounts For Repairs
If you’ve received a property from a family member who lived there for a long time, it may require some fixes. You can decide to handle these repairs on your own and try to sell the house for a better price. However, why not skip the hard work and expenses for tools, materials, or hiring someone? Instead, you can lower the selling price and offer a “repair discount.” This approach saves you the trouble of repairs while allowing you to stay financially balanced.
Summary
Managing a house that you inherited can be overwhelming, and if you’re considering selling it, you’re in good company. But what’s the best way to set a price for that inherited home? Here are some helpful tips to help you determine the right price for your inherited property in NC.
Why not bypass all the work and cost of selling through an agent and instead get in touch with us today about selling your inherited property to us here at Neighborhood Property Group NC? Just call us at 704-605-9520 or click here and enter your information in the form.