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Selling Unwanted Inherited Property
Kentucky Real Estate Buyers – conveniently located in Lexington, Kentucky (KY) – is here to help you decide what to do with unwanted property you’ve inherited. Contact us today to sell your property quickly and for a cash offer.
When family members pass away, we sometimes inherit property that we don’t want or know what to do with. At Kentucky Real Estate Buyers, we buy houses quickly and for cash without having to involve realtors and all the costs that go along with them. To learn more about how we can help you get rid of your unwanted property, contact us today!
When you inherit property, there are many surprises that can come along with it. If your relative had a reverse mortgage paid on the house, all the money borrowed will need to be repaid to the bank within 30 days to avoid foreclosure. Kentucky Real Estate Buyers can help you sell this property, so you can repay the bank and possibly have a little money left over for yourself.
When you inherit property, you are not able to keep the previous homeowners insurance policy on it. Because of this, you’ll have to decide what to do with the home fairly quickly, because insurance may not be available or will go up dramatically if the home is unoccupied for 60 days. Selling the property is a great way to keep from having to worry about a second home insurance policy.
Estate taxes are another cost you may not be expecting when you inherit property. While the amount is dependent on several factors including the value of the property, it can still be a pain to have to pay this unexpected amount. You can offset these costs by selling the property, especially if you weren’t planning on using it anyways.
Depending on how long you hold on to the property, you may also have to pay a capital gains tax. If you sell property immediately, you normally will not have to pay this tax, because it only applies to increases on the value of the house after the previous owner passed away. Selling the property as soon as possible is the best way to avoid this extra cost.
The probate process can also be extremely confusing and difficult to navigate on your own. Our attorneys can also help sellers through the probate process, so you won’t have to figure it all out by yourself.
If you’re interested in learning more about the potential difficulties associated with inheriting unwanted property, contact us today at Kentucky Real Estate Buyers. We can help walk you through all of your options, research the property, and create a cash offer proposal for you to consider. We are conveniently located in Lexington, KY and proudly serve the surrounding area. Give us a call today to learn about all the different types of property we will purchase.
How to Get Fast Cash for Homes
We take the hassle out of home selling!
Selling your home can be stressful! At Kentucky Real Estate Buyers , we may buy your home directly, for cash and eliminate your stress. Here’s how it works:
Step 1: Call us, email us, or fill out the contact form.
Step 2: Answer some basic questions about the house you want to sell. Questions such as whether you are the owner, or representing the owner, and if you have an idea of how much you want for your house, why do you want to sell the home, and the property address are examples of some of the information we need.
We Do All the Leg Work
Step 3: Let us go to work! We will research selling prices for similar houses in the area. Don’t worry, we will not actually drive by your house or snoop around or anything like that.
We do not visit your house until we have made a preliminary cash offer and all parties are ready for the next step.
Click “Sell My Home Today ” To Get Started…
Schedule a Viewing
Step 4: Once the preliminary cash offer has been made, and if our offer might be close to what you want for the house, we will schedule a time to meet so we can see your home in person.
If you decide not to sell to us, that’s okay too. We will not pressure you or harass you about selling your home. After we see your house, and if you are ready to sell, then we can draw up the contract and schedule a time to close.
Agreement & Signed Contract
Step 5: After we view the home, and if all parties are still interested in making a deal, we will begin the process of agreeing on the final cash price.
Step 6: If we agree on a sale price, then we have to decide on a closing date, and moving date. The, we will get the contracts ready. After we have a signed contract we may or may not decide to have a property inspection (typically not) and then we can proceed with the closing.
We will not ask you to make any repairs to the property, we buy all houses in as-is condition.
Step 7: Celebrate and cash your check!
Depending on each unique property and seller situation, the process may differ for each individual purchase, but the above is a typical description of how it works.
That’s the Easy Process!
It really is that easy! We hope you will pick up the phone and call us, or feel free to email.
We look forward to speaking with you about your home.
We are local real estate buyers that specialize in buying houses quickly in their current condition. We buy houses for cash and can help with a multitude of housing situations, including sudden relocation, financial need, unruly tenants, extensive repairs, and inheriting unwanted property. We proudly serve the greater Lexington, KY area and the surrounding counties, including Bourbon, Madison, Jefferson, Franklin, Scott, Clark, Jessamine, and Woodford.
