Are you looking to sell your parents house after they’ve passed away? When you sell a house you’ve inherited from your parents, you’ll have a long to-do list in front of you. However, you can reduce some of the stress. That’s what we’re going to talk about in this video.
The Emotional Side Effects of Selling Your Parents’ Home
Hey guys, it’s Eric Sztanyo from We Buy NKY Houses where we are buying houses for cash in Cincinnati and Northern Kentucky. We are also Realtors with Keller Williams Realty. So we provide multiple solutions for sellers. And if you’re in a situation where you have just inherited a home in Cincinnati or Northern Kentucky from your parents, and now you’re going through the probate process or you’re looking to sell your parents house. Let’s talk through just how do you go through that because it can be complicated.
There are so many things going on at once, and you’re still living your life. You have to figure out the probate process, and you’ve got to talk to attorneys and you got to get the paperwork done and there are bills that might be mounting up. Plus, you’ve got your own life to live. And on top of all of that, you’re dealing with the emotional loss of losing a loved one, right? This is so difficult!
What We Can Offer
Whether it’s your parent or another relative’s home, this is a difficult journey. It’s an extremely challenging time to work through all of that. And we understand that completely. And so what we do at WeBuyNKYHouses.com and Team Sztanyo, is we’re trying to provide multiple solutions for sellers who are looking to sell a home or sell their parent’s house. You might have different goals on how you want to sell that home as you’re working through the estate process.
Sell As-Is or Fix Up and List on the Market?
What you need to know is that there are different solutions. I wanted to walk through a few of those solutions. The first solution and what we typically do at We Buy NKY Houses is provide a cash offer for the house and, we can close right away. The nice thing about this is we can close as soon as seven days. Usually, it’s about two weeks depending on the title work and things like that.
But the advantage for you on a cash offer is that you don’t have to do anything to the house! We buy the house as-is. So if the house is dated or you know it needs updates or it has repairs that have been overlooked over the years, you don’t have to do anything to the home. If you do have to make repairs, this can be a really challenging thing when you’re trying to sell your parents house. You may not have the extra cash to fix it up and put it on the market and try to get top dollar for it. You may not have the time to work with a real estate agent and do the showings and have the listing and all of that. You’d rather just sell the home and be done with it.
This is a really helpful solution for people who are like, “look, I don’t want to fix it all up. I don’t want to spend a lot of time on this. I just want to sell my parents house fast and I want to move on. I want to close this chapter with this house, sell the home, and be done with it.” We’ll come in, we’ll run the numbers, we’ll show you the numbers. We’re very honest in terms of how we came up with the numbers and it’s a very simple formula.
We just simply look at if the house was fixed up, what could we sell for? And then we just back out our expenses and any profit that we would want to make as an investor buying it in a cash offer. So, that’s option A is the cash offer.
A second option however is, where the house is all fixed up and you’re trying to get a top market dollar for it. And we can help you on that side too because we are also real estate agents. We can give you advice, we can even help you with contractors with anything you need on that end with stagers, we’re happy to help you go that route.
Sell Your Parents House On the Market As-Is
A lot of people don’t want to spend the time when it’s not their home, and they’re living their normal busy life. There’s also this middle option where if you’re trying to get more money for it, you can list the property as-is on the market. And what I mean by that is you still don’t have to do the updates and all the work. One way to sell your parents house is you are going to put it on the market. It’s going to go on the MLS, the multiple listing service, and shoot out to Zillow and Trulia and now you might attract not only another investor but you might attract an owner occupant where it makes a lot of sense and someone who’s willing to come in and say, “Oh yeah, I’ll clean it out. I’ll make the updates,” and that buyer can then potentially get a little equity in the home and make the updates themselves and they can see some equity.
The advantage for you on that end as a seller when you want to sell your parents house, is that you’re probably going to net more money. The reason why is that you can list it a little bit higher. You don’t have to account for the profit a real estate investor wants to make on the cash buying side necessarily.
It’s going to take a little longer because you have to get the home ready to list. You’ve got to put it on the market and then whoever buys it, you have to wait for their funding. It’s usually about 30 days to close after that. So the whole process might take two or three months as opposed to two weeks. And so it’s going to take a little longer, but you’re probably going to net more money in the end even after paying the real estate commission.
Finding the Solution That’s Best for You!
Because again, you’re not accounting for the profit that the investor wants to make on the flip if that makes sense. So I hope this helps when you’re going through trying to sell your parents house or your parents may be deceased or have recently passed away.
It’s a very trying time. We get that. We understand that. We’ve worked with a lot of home sellers all over Cincinnati and Northern Kentucky and we’re a local cash buying business.
I grew up in Florence, Kentucky, my wife from Edgewood, we lived in Anderson township for 10 years. Now we’re back in Northern Kentucky, closer to grandparents, so we’re a local company. We love our community and we love our city and we understand that when you’re trying to sell a parent’s house, it’s just challenging. There’s a lot of emotions tied up.
You probably even grew up in the house or there’s a good chance you did and it’s complicated, so we’ll help you through that entire process and we’ll find the solution that’s best for you. We’re looking to solve problems. That’s our goal. We want to help sellers solve problems. Not to mention the fact that there might be multiple siblings and you’re trying to navigate all those waters as well.
We’ve done this a lot and this is a specialty of ours: helping people sell inherited properties in Cincinnati, Northern Kentucky. So thanks so much. I hope this video was helpful. Hope you can give a like, share it with anyone that may find this video helpful, and give us a call. (859) 412-1940 we’d love to help you out. Thank you so much!