Inheriting a Las Vegas home from a family member can be a wonderful experience. But it can also be a nightmare. It really depends on the condition of the home, its location within Nevada and what you plan to do with it.
Generally speaking, you have three main options when you inherit a property: move into the home, rent it out or sell it. Each scenario has its pros and cons, so the best choice depends on your personal circumstances and how hands-on you plan to be.
Today we are going to focus on selling an inherited property for fast cash in Las Vegas, who it’s right for and the benefits to expect. By going into this process with realistic expectations, you can expect a stress-free and positive experience.
Get the Facts on the Property
The first thing to do is find out the details on the property. What is it worth? Is there an outstanding mortgage on the home? Are there other remaining debts?
You can use an online home value estimator to get an idea of what the home is worth. However, a lot depends on the condition of the property and what comparables are selling for. You’ll also need to figure out what is left to pay on the mortgage, if anything.
Also check for other outstanding bills to account for such as property taxes and liens. Fortunately, Nevada does not have estate or inheritance taxes, so you don’t need to worry about these.
Prepare the Home for Sale
If you decide that selling the home is the right course of action, you’ll need to prepare the property. You can sell your home the traditional way (by working with a realtor) or you can sell it for quick cash in Las Vegas.
The benefit to selling your home for cash is that you don’t have to clean out the belongings, repair the home or hire a realtor. A cash buyer will make an offer and you can close on the property in one week.
We recommend an as-is sale for the following situations:
- Home requires a lot of repairs and updates
- You don’t want to keep the home or rent it out
- Property has major issues like foundational problems or water damage
- You want to liquidate your inheritance
- You’d prefer not to work with a realtor or do showings
What to Expect When Selling Your Fixer Upper in Las Vegas
The sale process depends on how you sell the home. If you go with a traditional sale, you’ll need to clean out the belongings and go through the probate process. Once the home is ready to sell, you can move forward with listing the property and showing it to prospective buyers.
Selling your inheritance as-is is a bit different than working with a realtor. You can sell the property with the belongings inside, with significant damage and even if the late owner still owes money on it. You’ll just have to factor this into the cash offer. As-is sales are quick transactions that usually take a week or so.
If you’re interested in selling your inherited property for cash, contact We Buy Any Vegas House today. We’ll be happy to provide you with a free, no obligation cash offer. If you like it – we can close in as little as one week. If you decide to go a different route, we completely understand. This is your inheritance and you should feel good about what you choose to do with it.