CHAPTER 7 Four Strategies f egies for Selling Your Inherited Home ed Home When you inherit a property, the main goal is often to sell quickly and efficiently, with speed sometimes taking precedence over maximizing the sale price. Additionally, homes left by a deceased relative may not have been updated or maintained in years, and the heirs may not want to invest the money or time required for repairs and improvements. To make the right decision for your specific situation, it's important to strategize carefully based on your goals, whether you're aiming for a top-dollar sale, a quick transaction, or minimal investment. Below are four methods for selling an inherited home, each with its own set of advantages and challenges.
1. Auction
If a fast sale is a priority, an auction can be an excellent choice. Auctions can be swift and profitable, making them an ideal option for those seeking to sell with minimal hassle. Properties that might be difficult to sell on the traditional market—such as older homes in need of repairs or unusual properties—often do well at auction. Additionally, the competitive atmosphere of an auction can drive up the sale price, particularly when multiple buyers are bidding. Steps to Selling at Auction • Select an Auction Firm: Research local auction houses and choose one with a strong reputation. Consider their 28
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