We Buy Houses In Affton, Missouri and we are here to guide you. First, we’re so sorry for your loss. This can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times.
Are you planning to sell your home in Missouri? You might be thinking, “I inherited a house, what to do with this house?” “Should I rent it?” “Should I sell it?” “How should I sell my house in Affton, MO?”
Tons of options open for you, but we can help.
We’re seasoned Missouri home buyers and investors in real estate business, and we’re looking to purchase several houses each month in the Affton, MO area. Every month we get calls from those who have inherited a property and are looking to sell the house…so below are some tips to help you navigate the process.
“I Inherited A House, What To Do Next?”
Here are a few important considerations to help you make the right decision:
1) Make sure the mortgage in Missouri is paid
This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may force you to refinance into a new loan. If you don’t qualify for a new loan, renting may not be an option for you.
2) The investment in Affton, MO is only as good as the manager
If dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management isn’t the best use of your time, hire a professional to help you or cash out now. Some people who inherit homes decide to keep the house and rent it for extra income. That’s a great strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.
3) Affton, Missouri property ownership costs money
It’s rare to see a building that’s been perfectly maintained. Most inherited houses need major improvements.
Consider hiring a professional property inspector to give you a detailed rundown on what you’ll need to do within the next five years, along with estimated costs. Surprises are very, very expensive.
4) Selling your Affton property for top dollar costs money
5) If the market in MO will continue to grow faster than your other options, hang on to the investment
We can help you analyze the value of your property today versus the long-term benefits of renting. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don’t have anything better to do with the money and the neighborhood is rising in value, hang on – real estate can be a great investment if you know how to correctly read the market.
6) Uncle Sam wants a piece of the action in Missouri
Don’t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.
7) Consider all your options in Affton, Missouri
In certain situations, we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time – capturing the best of both worlds. These kinds of deals can be complicated, but our Affton, MO investment experience can help you win.
8) Compare a few scenarios in Affton
We’ll help you determine prices for any property near Affton, MO – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).
Cash For Houses In Affton, MO
With the above knowledge on inherited properties in MO – what sellers need to know is that you can guard yourself by calling Chris Buys Homes in St. Louis and we shall assist you in the shortest time possible by buying your home ourselves. We are legitimate cash homebuyers in Missouri and to fast track the process, kindly fill out our website contact form to give us more information about you. If you need to sell your house in St. Louis as quickly as possible, we can make you a fair cash offer!