Relatives who inherit a home after a family member passes away might be financially pressed to sell the property right away. No one, however, wants to "unload" a property for far less than what the home is worth. Some positive news exists for those who inherited property. Buyers in a market for a new home seek many different traits in a property. The condition of the property -- almost universally -- plays a major role in attracting buyers. Buyers may feel very confident in buying a home whose ownership remained in the same family for decades since the condition is likely to be good.
Two points may ease the mind of a would-be buyer:
- Few Worries About Minor Troubles
During a routine inspection of a property, major issues such as a severely damaged roof, mold, or leaking pipes end up being revealed. A home owned by the same family is not automatically going to be free of major or minor problems. Minor issues such as aging tiles on the bathroom floor, loose roof shingles and nails, or rusty plumbing fixtures may end up being overlooked. However, a home owned by one person or the same family for decades upon decades likely has fewer minor problems. People who occupy a home for many years are sure to take better care of it than homes occupied by short-term renters or multiple property flippers. Buyers realize such homes save them money since a slew of minor repairs might not be required.
- No Rush on Remodeling
Owners who held onto a property for a long time eventually have to remodel at least some sections of a home. Siding that was recently replaced or a bathroom that has been remodeled - and are still in good condition - can be left alone for several more years. Since remodeling work may be reasonably delayed for a few years, the new buyer does not end up incurring a host of extra costs almost immediately after closing the property.
These two points, among others, are likely to go through a potential buyer's mind if pertinent facts are mentioned when you list your home.
Effective and Telling Statements
The right words in a listing do a lot to help draw in people to check the property out. "Inherited Property: Only One Owner" or "Multi-Generational Single-Family Owned Property" are good buzz phrases. An experienced real estate agent does know how to properly weave these words into a listing. If you're interested in listing your home online, contact a company like MLS to Sell for more information.