Financial Options You Can Pursue When Selling An Inherited Property In Omaha

If you’ve inherited a property, going through probate in Omaha and you’re thinking about selling it, you might have more options than you realize. Selling your inherited house in Omaha NE can be easier than you think. Read this blog post to find out the 3 financial options you can pursue when selling an inherited property in Omaha…

When a loved one passes and leaves you with a property, it might be a meaningful gesture but, the truth is, an inherited property in Omaha isn’t always convenient to own. There are additional bills, expense, maintenance, upkeep, and stress; it can be time-consuming.

So if you are thinking of selling a house that you inherited, you might first be thinking about selling with the help of a real estate agent. However, you might be surprised to learn that you have options that you may want to consider as well. In fact, did you know you have 3 financial options you can pursue when selling an inherited property in Omaha?

First, Let’s Talk About Selling Through An Agent…

There’s nothing wrong with selling through a local real estate agent in Omaha but you should be aware that a real estate agent may have you fix up the inherited property first, then there are closing fees and the hefty agent commission you’ll have to pay afterward. Expect to pay 6 to 7% commission on the price of the house to a real estate agent. Selling a 200,000 dollar house that is $14,000 just for the commission, not to mention all the other costs mentioned above. And, selling through a real estate agent can take months, some people don’t like how long it takes.

So, what are the other options?

Second, Let’s Look At The Other Options…

Option #1. Refinance

One option, which is a type of selling, is to refinance the property with a bank and use that money for other things. Although you’ll still own the house, this is a financial option that some people might consider as an option to selling the property to get money out of the housel.

You can still use the house, live in it or rent it out, and you will need to pay back the loan to the bank plus interest but it’s one option to consider.

Option #2. Rent To Own

Another option is to sell the house over the long-term by selling to a tenant. Typically, these are tenants who can’t get a mortgage but want to own a house – so they’ll pay you rent and over time they’ll be able to buy the house (either by paying you an additional amount above their rent that will go toward the purchase of the property, or, by waiting until their credit is cleaned up to purchase the house with a mortgage.) It is also common to get a larger down payment vs the normal mortgage.

Option #3. Sell Fast For Cash

One little-known option that owners of inherited properties might enjoy is the ability to sell the house fast for cash in Omaha NE to a local cash home buyer in Omaha. Instead of selling through an agent (and hoping they can find a buyer, which can take months), you can work with a local cash house-buying company in Omaha (like what we do here at Harter Investments and we often buy your house as-is for cash, usually in as little as a few days. It’s fast, simple, and doesn’t require any work.

There you have it! 3 financial options you can pursue when selling an inherited property in Omaha!

Thinking about selling your inherited property fast for cash? We can help! Click here now and fill out the form our call our office at 402-939-6556.