Planning to sell your inherited property? Make sure you read this blog post for tips about how to price your inherited home in Tampa FL. While an inherited property can be a wonderful gift from the one who has passed on, it also comes at a cost. Selling it can be a smart idea because you can use the equity for some other purpose. You may be feeling a bit rusty when it comes to selling an inherited property, but don’t worry. We’ll show you the ropes and get that house sold!
Some people don’t put too much thought into what they may price their inherited home in Tampa for. But there are so many factors that go into the final sale price. Something to keep in mind that will help narrow down your list price would be to ask yourself, “How fast do I want to sell my house?”
If you were to hire a realtor and list your inherited home on the MLS, it could take months to sell. Plus, you’ll still have to pay for the holding costs of the house and maintain the property the whole time. This option is not only costly but time-consuming.
The smart buyer knows that they are better off to price slightly lower for a faster sale. Of course, the buyer might get less for their house in many cases. But they also pay a lot less on repairs and carrying costs than sellers do so it’s ultimately not much of a trade-off when you consider these factors!
Don’t Base The Price Off Emotions
The main problem many people in this situation face would be placing a monetary value on sentimentality. Sometimes, the house may be worth a certain amount on the market but you have so many memories of growing up there or happy times spent in that space. This can cause you to unintentionally increase its value because people associate those emotions with what they see as an attractive feature.
A simple approach would be to contact a real estate consultant agency and get a no-obligation offer on your home. The agency will take into account comparables and amenities in the area, the condition of your house, the neighborhood, and more. This will help determine a much more accurate list price than basing it off memories alone.
Offer Discounts or Incentives
If you inherited the property from a loved one who had lived in this home for many years then it might be time to take care of some repairs that may have been ignored. While you could start swinging hammers and potentially ask for a higher asking price, there’s no need. Save the time and energy of going through home renovations by offering “repair discounts.”
Get an accurate estimate of how much the repairs will cost by hiring an inspector. They’ll give you a list of things that need attention, mention those items in your listing description, and deduct the estimate of repair from your list price. You save so much time and effort by skipping doing the repairs yourself and still net the same amount of cash in the end.
Selling an inherited home in Tampa can be a lot of work, but you aren’t alone. At SellThatFloridaHouse, we’ve helped many people in similar situations. We’ve been trusted home buyers in the Tampa area for more than 15 years, helping hundreds of homeowners relieve their stress through quick, hassle-free cash sales. Reach out to us at (407) 228-3682 or visit us online and fill out our contact form to get your no-obligation cash offer today!