Selling My Inherited Property Quickly

When you inherit a home from a loved one, you have many decisions to make. While some people choose to move into the property, the majority are looking to sell the property as quickly as possible. Not only will this give them peace of mind, but also generate a sizable profit that can be used for other things such as financing a child’s college education, paying off various debts, and other important tasks. However, many people who inherit properties don’t know where to begin to get the selling process underway. Therefore, it’s crucial to work with a company that specializes in these sales, which often makes the process to sell your house much smoother and profitable.

Tax Implications

Because emotions are usually running high in these circumstances, many people fail to sit down and discuss the potential tax implications. However, since there may be issues related to inheritance taxes and estate taxes, it’s always best to work with an agent who specializes in selling inherited properties, rather than go it alone or simply work with friends or family members, who may not have the knowledge needed to sell your house in the best possible way.

Prepare for the Sale

Prior to putting your inherited property on the market, make sure it’s ready for prospective buyers. After all, when many buyers and investors know a property is up for sale due to inheritance, they are expecting to get a good deal, since they realize the seller likely wants to rid themselves of the property as soon as possible. To be prepared for the sale, make sure all personal belongings are cleaned out of the home. Along with this, it’s often a good idea to hold a yard sale or estate sale after dividing up cherished belongings among family members.

Pricing the Property

As stated earlier, since buyers will know the property is for sale due to inheritance, they will likely try to purchase the property for as low a price as possible. However, it doesn’t necessarily have to be this way. When selling your inherited property, working with an agent who specializes in these sales can make all the difference. By having in-depth knowledge of the current real estate market, trends in the local area, and asking and selling prices of comparable properties nearby, your agent will be able to get you the price you want. By using this knowledge, along with their negotiating skills honed through years of experience, they’ll make the process far easier than you expected.

Don’t Go It Alone

Rather than let your emotions lead you astray during this difficult time, put your trust in a company that has knowledge, experience, and your best interests at heart.

Different Methods Of Selling Your Commercial Property

The information we provide you below will assist you in understanding as to what it takes to adopt a particular method so that you can finalize a method most suitable to you.

You should appoint only one agent

You can enter into exclusive agreement with just one property investing agent. The benefit here in this type of arrangement is that the agent will work with more dedication and focus to locate genuine buyers for your property at possibly best price. You may also have to spend less of your money and time in marketing and advertising for your commercial real estate sale.

Appointment of one agent but with a Multi-List Agreement

Here, the agent you appoint will be working with several other agents in the market for selling your property but cost to you remain the same as in the above discussed method. The main difference here is that agent you appointed in the first place shares the commission he will get from you with the other agents in the field who help him in securing the buyer for your commercial property

Selling the Commercial Property by an Auction

In this procedure there is no set commission to be paid to the agent. There is obviously a time limit for auction and this creates a time bound competitive environment for the real estate agent. Here the agent works even harder and you earn more profit in less of time.

Appointment of many real estate agents

In this method, you usually rope in many real estate agents to execute the sale. Buy you need to pay commission to only that agent who introduces you to the purchaser of you property.

Selling the commercial property on your own

Here you can decide to sell your commercial real estate by yourself in order to save on the commission you usually would pay to the real estate agent. However it is not easy as you will have to handle advertising and marketing for searching the prospective buyers. Above all you need to have sound knowledge of all legal formalities required for property transfer.

I am not in the favor of this method and would not recommend it as I firmly believe that your main goal is to be a real estate investor, so you should act in a smarter way.

Hence, as we see, there are many methods to sell your commercial real estate. Appointment of an agent is safe and the easiest way to achieve the results and it is always nice to go with just one agent.

Selling Your House Online Without The Need For A Real Estate Agent

Pull Up A Word Document & Write Your Listing Description

Writing copy for a property listing is easy, especially if you are the home owner as you know your property best. All you need to do is point out the features and benefits and then elaborate on each. If you are struggling to write anything down, go onto the major property listing websites in your country and take a look at what some of the agents have written for some of their properties. After reading a few other listings, the creative juices will start to flow and you will have no trouble in writing your own ad.

Get Your Digital Camera & Take Photos Of Your Property

Now, you need to make sure that your digital camera takes high-resolution or high quality images so that you images do not come out with pixelation but other than that, make sure you house is clean and well presented and take some happy snaps. Here are some of the main areas of your house that you will need to take pictures of:

  1. Front Yard
  2. Back Yard
  3. Living Rooms
  4. Bedrooms
  5. Bathrooms
  6. Toilets

Get Property Reports & Market Data To Determine Your Selling Price

When selling your house privately, you need to gather your own data and determine the price at which you are going to sell as you do not have an agent to dictate or tell you what they think the property will sell for. You can do this fairly easily by making a search in Google for Free Property Report. This will bring up a number of sites that will provide you with sales data for properties that are similar to yours in your neighborhood. Once you have a general idea of what you would like for your property and you have all of your listing content, you can move onto the fun part, selling.

List Your Property On Free Classifieds & Paid Property Listing Websites

You can start off by listing your house online on free classified websites such as Craigslist or GumTree if you are based in Australia and you may just get enough enquiries on these sites to sell your house pretty fast but if you are looking for the most exposure and are looking to list on the most popular Real Estate websites in your country of region, do a search in Google for Sell My House Online or Sell My House Privately. You will get a large list of websites that will help you to list on these major property portals for a once-off or monthly listing fee. You will still be allowed to handle your own enquiries and deal with prospective buyers directly, they just list your property under their account but direct enquiries on your property straight back to you.

Take Your Enquiries, Conduct Open For Inspections & Negotiate A Price

This is the really fun part. Once your property is advertised and the enquiries start streaming in, you just need to take calls and fight for the highest price. You will have to show people through your home on the in-between but essentially, this is where you get down to business. Show people through and then take down the names and numbers of the interested parties. Organize a time to take them out to coffee and negotiate a reasonable selling price.

Speak To Your Lawyer or Conveyancer To Have Your Contracts Drawn Up

Once you have a buyer, you have done the verbal agreement, you then need to set it in stone. You can do this by going to your lawyer or conveyancer and asking them to write your sale contracts up for a small fee. Once these are done, all you need to do is have them signed and prepare for final settlement.

Settle & Smile

Once your property is sold and you have settled, you can sit back, relax and smile because you have just sold your property all by yourself and what is even better is that you did it without a Real Estate Agent and you did not have to pay a cent in commission.

Tips on Selling Your Own Property

Ever wondered how you can save money when selling your property? Ever thought that you have to have an estate agent to sell you property? With the growing trend of consumers in the selling market now selling their own home, should estate agent start to worry? Is now the time to start selling your own home and cut out the middle man?

If you have ever wanted to cut out the middle man and sell your own property there are a number of considerable benefits. The main benefit is the saving on commissions. This could be in the thousands. The feeling of remaining in control and the sense of achievement when you have finally sold your home can reduce any stress levels and leave a feeling of satisfaction and a job well done. With a growing number of resources on the internet available to everyone, there has never been an easier time to sell your own property. There are however some careful considerations that need to be thought through before you take the plunge; what is the value of your property, what are the benefits to the buyer and how do you intend to advertise.

Knowing how to value your property isn’t as hard as you think. All you need to know is what the market considers to be a fair price for your property in the location that it is in. For you to do this just take a look around. What are the local properties that are similar to yours valued at; research local papers and estate agents windows to see what they have valued similar properties to. There are even on-line house price calculators which can give you a guide price. When you are finding the value of your property, always keep in mind the lowest price you will accept for your property and your ideal price.

Listing the benefits to the buyer is just as easy. Just remember what it was that made you buy the property. Take a look at a local map and list all the amenities, local schools and so on.

Advertising you property can be as easy as placing an advert in the local news paper or seeking out websites that allow you to list your property. Taking photos with a digital camera will greatly enhance any advert. With a little bit of research you could have your advert in front of thousands of potential customers in a very short period of time and the cost of advertising will be considerable less than any fees paid to an estate agent.

Although going it alone can be rewarding there is no substitute for the local knowledge of the market that an estate agent can bring. Selling your own home can be a challenge but very rewarding. The choice is yours to take.