If you have inherited a small house that needs a lot of work, and you aren't sure if you want to hold on to it and try to sell it after you work on it, or when the market picks up, or if you should just let someone buy it for cash, weigh out the options. Sometimes getting rid of the house quickly by selling it to someone who buys houses for a living and flips them is the easiest and most profitable way to be free of the property. Here are a few things to consider.
Avoid Loss in Payments and Taxes
When you are making the monthly house payments, and paying for the taxes and homeowners insurance, you are losing money. Holding out a few months to a year to try to get another buyer could end up costing you thousands, or you could end up having to take what you were offered at a later date, after you've been paying to maintain the house. You can avoid these financial losses by making a quick sale.
Avoid Investing to Update
Updating the house so someone actually wants to live in it can be costly, especially if you can't do a lot of the work on your own and you aren't in the contractor industry. The professional house flippers come in and change the layout, materials and scheme of a house quickly because they have the skill and low cost materials. Selling instead of investing and trying to sell could help you keep more money in your pocket.
Avoid Real Estate Agent Fees and Hassles
Hiring a real estate agent to list the property is going to cut into your property instantly, and trying to sell it for what they want or working around their schedule can be a huge hassle. You can skip all the meetings, commission fees and issues that arise with an agent when you just sell the house quickly to an interested cash buyer.
Many buyers that flip houses will pay for the house in cash, so you don't have to worry about the loan going through. If you are going to sell the house for lower, then maybe you would like to get rid of it quickly, make sure that you state the property will be sold as is, and that you won't change anything based on an inspection or appraisal. The price will be final once agreed upon. Contact a company like Checks 4 Houses to learn more.