I Inherited a House, What To Do- Should I rent or sell in Hialeah?

 

I Inherited a House, What To Do- Should I rent or sell in Hialeah?

 

I Inherited a House, What To Do- Should I rent or sell in Hialeah? - we buy any house

 

To begin with, and do not take this to be a fake sentiment, but we are truly sorry for the loss of your loved one. We do not know one another- we have never met. Odds are you haven’t heard about us, however the staff at Glymph Properties (GP) recognize how uncomfortable the death of a family member could be. This is often a very challenging time for a lot of reasons, and with property possession it’s difficult even at the very best of occasions.

 

When you find out you’ve inherited a house- the thought process is usally… ” Wow, I inherited a house. Do I live in it? Do I rent it? Do I sell it? What do I do? Where do I get started?”

 

There are many of options open to you, but, which will you take? Regardless of the path you decide to take, we can help.

 

We’re seasoned investors in Hialeah real estate, and we’re planning to buy several houses each month in the Hialeah Texas area. Every other day we get calls from those who have inherited a house and are looking to sell their house- so the info below are some tips to help you traverse the process.

I Inherited A House, What To Do Next?

Here’s a few important considerations to help you make the right call:

 

1) Ensure that the mortgage is paid.

 

This may sound totally obvious, but if the person who left you a property also had a mortgage (unless of course it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may drive you to refinance into a new loan. If you aren’t eligible for a new loan, leasing may not be a possibility for you.

2) The investment is only as good as the manager.

If dealing with real estate agents, repairs and maintenance, tenants, rent collection, and all the ins and outs of property management isn’t the best use of your time, hire a professional to help you or cash out now. A handful of people who inherit properties decide to keep the house and rent it for extra income. That’s a wonderful strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.

 

3) Property ownership costs money.

 

It’s unheard of to see a house that’s been perfectly managed. Many inherited properties need major improvements.

Consider hiring a professional property inspector to give you a detailed rundown on what you’ll need to do within the next five years, along with estimated costs. Surprises are very, very bad for your bank account.

4) Selling a property for a very high price costs money.

 

If you don’t want to deal with making fixin’ stuff, modernizing kitchens, improving landscaping and overall cleanup, don’t worry. We buy Hialeah houses for cash, as-is.

5) If the market continues to grow quicker than your other options, hang on to the investment.

We can help you find out if it’s more advantageous to keep your property and rent it out or to get rid of it. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don’t have anything better to do with the money and the neighborhood is rising in value, hang on to it- real estate can be a great investment if you know how to correctly read the market.

6) Uncle Sam wants a piece of the action.

Don’t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.

7) Consider all your possibilities.

In certain situations we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time, capturing the best of both worlds. These kinds of deals can be complicated, but our Hialeah investment experience can help you win.

 

8) Compare a few scenarios.

We’ll help you determine prices for any property near Hialeah – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).

Just call us today at 888-509-6267 Ext 4 or contact us now for more information

on how we can make you a fair cash offer on your inherited house today!

We’re happy to help you find answers to your toughest questions about your Hialeah real estate, so please feel free to call us at 888-509-6267 Ext 4 and chat with us anytime.

Fill out this form or give us a call anytime at 888-509-6267 Ext 4 for a Fair Cash Offer
See how it works

Free seller resources!
www.gpbuyshomes.com/blog

We buy homes near: 33010, 33012, 33013, 33016, 33018.

 

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Are you looking to find other properties to invest in… visit our investor website or give us a call anytime at 888-509-6267 Ext 3 for a Fair Cash Offer

See how investing works with Glymph Properties

Free investor resources!

www.gpsellshomes.com/blog

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Are you looking for rent to own properties… visit our rent-to-own website or give us a call anytime at 888-509-6267 Ext 5 for a Fair Cash Offer
See Glymph Properties Rent-To-Own Properties

Free rent-to-own resources!

www.gprent2own.com/blog

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