First of all, let me start by saying that I’m sorry that you’ve lost someone close to you. Being surrounded by property all day can sometimes make home buyers like me lose sight of the bigger picture: that you’ve suffered an emotional loss and the sale of an inherited house is often something that you don’t want to have to handle. I promise to be sensitive to that throughout this process and will do my best to help you at this difficult time.
Selling your inherited house brings closure to a difficult chapter
Selling an inherited property that needs updating
An alternative might be for you and your fellow beneficiaries to undertake the modernisation and refurbishment/renovation yourself. If the house is in a desirable area, this can be a good idea but just be really careful not to overspend on the renovation. Most people massively underestimate the costs and timescales involved in undertaking even a simple-sounding refurbishment. Think about whether you and the other beneficiaries really have the time, skill and inclination to undertake such a project youselves?
If not, you can pay a premium to have a builder undertake the project for you — but please, please, please don’t think this makes it easy. Many people have suffered serious stress working with the folks in the building trade — not all builders are good to their word and sadly we’ve bought many properties from clients that have tried–and failed–to manage their own refurbishment projects and would now say that they wish they had sold to us before getting themselves into an even more stressful state!
No fees for selling an inherited house
No hassle to sell your inheritance property
Inheritance house sale with multiple beneficiaries
It’s important for the inheriting beneficiaries, usually family members such as siblings, try to come together to work out a good option that works well for everyone: bearing in ming that “good enough” is often the most realistic outcome.
It’s worth bearing in mind that the more beneficiaries involved, the smaller everyone’s share of the sale procceds will be. It’s worth thinking about this in advance of selling an inherited house as a fast offer from a cash home buyer might well result in each individual share being quite close in real terms to the amount that you might achieve if leaving the inherited property on the traditional house market with an estate agent for months and month.
We encourage beneficiaries selling an inherited house to think about whether a reasonable concession on price might be a valuable trade-off in exchange for speed and certainty of sale?