It's always hard when you've lost a loved one, and if you've inherited a house on Long Island, the house can serve as a reminder of your loss. Sometimes, people want to keep the inherited home and move in, other times people want to sell it quickly so that they can have closure, and other times, people want to or need to sell the house ASAP.
There may be many reasons that you want to sell your inherited home quickly including emotional and financial reasons. Sometimes, you need to sell the house quickly to settle some debts that the estate had. Other times, the people want to sell the house fast so that they can settle the estate (often the inheritance can't be distributed until the house is sold.
Often, the probate process can drag on, especially if it takes a long time to sell the house (and here on Long Island the average time on market is 6.5 months). Of course that time can be extended by many months if you need time to clear out the house, do some repairs and updates, and make sure it's market ready.
Meanwhile, while you're prepping the house and also while it's on the market, you need to continue to pay many maintenance costs, include real estate taxes (which are high in our area), vacant home insurance, utilities and other maintenance costs (e.g. plowing snow, raking leaves, mowing the lawn, checking up on the house, etc.
These costs really add up. In fact, we found that for the average house on Long Island, it costs nearly $20,000 for every 6 months while the house is just sitting. And, of course, those costs will be even higher if there's still a mortgage to be paid. All of these costs need to be paid, and they reduce the amount of the inheritance.
Hence, you are better off selling the house as quickly as possible. The sooner it sells, the less you'll pay in maintenance costs.
Now, what happens if you really can't wait and/or you want to sell ASAP? How can you reduce that time period so that you can get things settled much faster?
Well a great and creative solution is to sell your house to a cash investor. If you do that, you can sell the home much faster (often in less than a month). Also, you have the option to sell the house "as is." You don't need to worry about the cost of repairs nor cleaning everything out of the house. That can definitely save you a lot of time and money.
We here at Long Island Cash Home Buyer LLC help homeowners that have inherited houses that they need to sell quickly. We buy homes for cash any where on Long Island. We can close quickly - often in as little as 2 to 4 weeks. And, we buy houses "as is." You do not need to worry about cleaning up or disposing of items.
So, if you need to sell your house in Merrick fast and for cash, give us a shout. We can help.
Let us help you.
Contact us Today!
Richard Witt
(516) 330-6940
Comments (3)Subscribe to CommentsComment