HomeBlogReasons to SellHow to Price an Inherited Home in Jennings, MO for Sale Share on Like what you see? Share with a friend. How to Price an Inherited Home in Jennings, MO for Sale Chris Kirshenboim | August 18, 2020 Last updated August 10, 2026 How to price an inherited home comes down to three numbers, and most families only ever look at one. The first is the date of death value, which the estate needs for tax basis and which an appraiser can establish even months after the fact. The second is what comparable Jennings houses have actually closed at in the last six months, in the condition yours is in today rather than the condition you remember it in. The third is what the house needs, taken from contractor bids instead of guesses: roof, furnace, panel, sewer lateral, and whatever the water heater is hiding. Pricing an inherited house at the retail number while it still holds forty years of belongings is how a listing sits for ninety days and then sells for less than the honest as-is price would have brought on day one. Jennings is a value sensitive market, so overpricing costs more here than the same mistake would in Kirkwood. Price it where a buyer with an FHA loan can actually finance it, or price it as-is and mean it. Our team buys inherited houses as-is, contents included, probate open or closed, and we will still tell you when a listing would net your family more. See how we buy houses when you are ready. Did you inherit a property that you're now thinking about selling? While an inherited property can be a wonderful gift from a loved one who has passed on, it can also (quite frankly) be a costly burden. So selling it makes sense and allows you to use the gifted equity for some other purpose. But selling an inherited property may not come easy to you, especially if you haven't sold a property in a while. So as homebuyers in Missouri, we have put here how to price your inherited home in Jennings, MO for sale. Tip #1: Price Quick To Sell In Jennings Some people price their inherited property at an amount they think the market might pay for the house. However, there are many factors that go into this price and one of the biggest considerations is: how fast do you want to sell? Selling through an agent "on the market" can take months, and you'll have to pay for the property and maintain the property the entire time. That can be costly and can eat at a higher price. Many property owners quickly learn that they're almost better off to price slightly lower for a faster sale, they might get less for the home but they also pay less on repairs, carrying costs, effort, and time, so it's ultimately a trade-off that might turn out to be a total wash. Tip #2: Avoid Pricing Based On Fond Memories Or Emotion In Jennings One of the biggest challenges that property owners of inherited property face when trying to price their property for sale is separating the happy memories from the true value of the house. The property might be worth a certain amount on the market but you may have such fond memories of growing up in the home or of happy times in the house that you accidentally use that emotion to increase the price. (This is VERY common.) A better approach would be to work with a real estate company and find out what they can offer you, and recognize that the price might be lower than you were expecting, not because the property isn't worth as much but because your wonderful memories have accidentally inflated the price! Tip #3: Build In Discounts For Repairs In Missouri If you inherited the property from a loved one who had lived in the property for many years then you might find out that the property needs some repairs. You could choose to do this work yourself and then ask for a higher price but why do that when you could save yourself the time and effort (and what you'd have to pay for equipment, supplies, or a contractor) and instead just ask for less and give a "repair discount". That way you avoid the hassle of the work, and you still come out the same financially. Sell My House In Jennings, MO An inherited property can be a lot of work so if you want to sell your house in St. Louis, you're certainly not alone. But how do you price an inherited real estate? These tips will guide you on how to price your inherited home in Jennings, MO for sale. Why not bypass all the work and cost of selling through an agent and instead get in touch with one of our team of Missouri home buyers today about selling your inherited property here at Chris Buys Homes in St. Louis? Just Call Us At (314) 334-1481 Or Click Here And Enter Your Information In The Form FAQs Frequently Asked Questions What is the date of death value used for? + It sets the tax basis for the heirs, so any gain is measured from that figure rather than from what the original owner paid. An appraiser can establish it retroactively. Should we price for a cash buyer or a financed one? + That depends on condition. A house that cannot pass an FHA appraisal will draw mostly cash offers, so pricing it at retail simply delays the reduction that follows. Do we have to clear the house before pricing it? + No, though a full house makes an accurate walkthrough harder. A cash buyer can price it as it stands and handle the cleanout after closing.
