Often, homeowners will gift their house to beloved family or friends with the best of intentions as part of their will. But, while it may seem like a windfall when you find out that someone has inherited property, the realities are not always so wonderful. It can be beneficial to understand the problems that could arise on the path before you, so read on as we explore five downfalls of inheriting a house in the North East.
If you live across the country, distance can cause issues when you’re inheriting a house in the North East, especially if other beneficiaries are involved. It is helpful to set out a clear communication plan; with today’s technology and a little forethought, the process can be relatively simple. Working with a highly reliable local representative, such as a professional investor from North East House Buyers, can provide you with the assistance you need to take care of business, no matter where in the world you are located. Theteam at North East House Buyers live and work here in the North East and have a vast network of reliable local industry contacts for any need that arises.
Several people are often listed together on the will, and inheriting a house in the North East can become highly complicated if you cannot agree on the steps to take with the property. Working with an experienced professional investor like those at North East House Buyers will provide the guidance you need to get everyone on the same page. First, each of your options will be detailed in full so that you’ll have a clear picture of the costs to retain the property during the months that a traditional listing may take what you would earn from a sale through a traditional listing. Next, we will lay out all of the numbers should you decide to sell directly to North East House Buyers and make you a cash offer, which you’ll agree is fair, especially considering that you won’t be paying commissions.
It can be highly emotional after losing your loved one and finding yourself going through belongings and cleaning out the property when you are inheriting a house in the North East. Many people find the experience extremely overwhelming. One benefit of making a direct sale to a professional investor like those at North East House Buyers, our full-service team will clean up the property inside and out; just take what you want and leave the rest to us! You don’t have to worry about costly disposal services, or having to oversee the upsetting process at all.
Inheriting a house in the North East means inheriting the monthly bills and responsibility for repairs and maintenance, tax, insurance, utilities (yes you still have to pay utilities and tax even if it’s empty!) along with any debt attached to the property. Unfortunately, few properties come to their beneficiaries in perfect condition. Often the home has fallen into severe disrepair. Should you find yourself in a similar position, you should know that when you make a direct sale to a company like North East House Buyers, our professional investors buy houses as-is, taking all of the risks of repairs onto our shoulders.
In many cases, financial obligations that accompany the property when inheriting a house in the North East require a fast sale. Cash buyers often try to use this to their advantage, making insultingly low offers. However, you won’t be taken advantage of when working with a professional investor from North East House Buyers. Our offer comes with a guaranteed completion date that suits you, without any pressure. At North East House Buyers, we have the flexibility to set the completion date around your schedule to make the sale as convenient as possible for you as there is no chain involved.
Are you inheriting a house in the North East and unsure about the next step? At North East House Buyers, we will answer any questions or concerns to help you reach a consensus on an educated decision, with no obligation. Contact North East House Buyers today at 0191 462 0160 to learn more.