An inherited house can be great, so long as you handle things properly. You could choose to sell the property shortly after inheriting it; you could rent it out to secure extra income, or you could choose to live there.
Regardless of the avenue you choose, you’ll be responsible for maintaining the home, and you’ll also have to pay taxes and homeowner’s insurance.
If you don’t want to go through a bunch of hassles after inheriting a home, choose to sell it to cash home buyers in Dallas. Even if you share the inherited property with others, you can sell—so long as everyone agrees—and divide the proceeds evenly.
Here are more reasons why choosing a cash home sale in Dallas is the right way to go after inheriting a property.
1. Inherited Homes Need Expensive Repairs
Most inherited homes aren’t in good condition because their previous owners were elderly, ill, or unable to perform necessary maintenance. Before moving in, renting it out, or selling it, the heirs will be responsible for making any necessary repairs, and some of these can cost an arm and a leg.
And if you want to sell the house the traditional way, you’ll have to boost its curb appeal substantially to attract a lot of buyers.
All of this is avoided if you choose to sell for cash. At Five Star Properties, we buy houses fast in Dallas in any condition.
2. Get Cash Fast With A Quick Closing
One of the best things about selling an inherited house to cash home buyers is the process is quick, so you’ll get the cash you’re owed right away. Cash buyers don’t need lender financing, and this is the main reason why the process is so quick.
Also, cash sales tend to be easier, so it’s less likely you’ll experience delays of any kind.
Selling a house fast in Dallas is always easy with Five Star Properties. We’ll check out your property and make a fair cash offer less than 24 hours after seeing it. If you’re pleased with the offer, accept it and we’ll take care of all the paperwork.
We can close in under 30 days and you won’t have to spend a cent on closing costs or commissions.
3. Avoid Paying Capital Gains Tax
When you decide to sell an inherited property, you might be liable for capital gains tax if its value has increased. If there is a significant difference between the original purchase price and the current value of the property, such could lead to a hefty tax bill.
As soon as you inherit the property, sell it right away so that you don’t leave any room for its value to increase further. In the end, if you’ve found yourself thinking: “I want to sell my house fast in Dallas to avoid capital gains tax,” then selling your house to cash home buyers is the best way to go!