“To inherit property is not to be born. It is to be still-born, rather.” Henry David Thoreau, nineteenth century American Author said.
Why such a negative view of inheritance? It could be the mix of emotions in such a circumstance. Or it could be, the problems associated with taking charge of and selling an inherited property before the benefactors can reap the benefits. Or indeed a mix of both.
If you and your family have inherited a property, there are numerous reasons why selling it to a cash buyer quickly can benefit all parties concerned.
Firstly, the property could have been lived in for quite some time and become dated or even distressed. You would need to spend time and money to update it before you can attract any interest from buyers. You will also need to find finance for the work before the property is sold. What about all the trouble of managing the work, or finding reliable trades people, especially if you do not live near to the property? If there is more than one benefactor, any potential increase in the value of the property resulting from the work, would only make each individual’s share a marginal gain.
Secondly, if there is more than one benefactor, someone may need to release cash more urgently than others. Selling through an estate agent is unpredictable, especially for properties that require renovation. Very frequently they are left on the market for long periods of time due to unrealistic asking prices. It is not uncommon to see inherited properties left unsold for a year until the sellers decide to drop the price significantly enough to attract any buyers or developers. If you then consider that you will still need to pay an estate agent a considerable fee, even after you have reduced the price and waited many months, this situation quickly becomes very uneconomical.
Lastly, vandals, squatters or local yobs can spot a vacant property a mile away. Imagine a vandelised property with windows boarded up, it will put off the majority of prospective buyers through the increased perception of crime. As a result, the property could be neglected by the estate agent as it becomes hard work. Why let that happen?
A much more economic and efficient way to release the money from that inherited property is to sell it to a cash property buyer. If you are willing to reduce the price of the property, which you should expect to do with an agent anyway, an Express Property Sale consultant will give you a written offer within just 48 hours and after only one viewing. You can then receive the cash typically within 28 days on completion. There is no need for you to do any work on the property whatsoever as we consider properties in all conditions. No fuss, no hassle.