How to profit from your inherited property in Oceanside, CA

by Dec 30, 2022

Inherited property in Oceanside can be a blessing for those who need it, but a nuisance to those who would rather sell it instead. At Ignite Property Solutions, we buy houses in Oceanside, CA and understand that selling an inherited property may be more difficult to do than selling a brand new home.

Based on our experience, we came up with the following tips to help you get the most out of your inherited property:

Contact a real estate agent to get an estimate of the property value

When you inherit a property, it can be difficult to know what to do with it. You may be tempted to sell it quickly, but it’s important to get an accurate estimate of the property value before you make any decisions.

The best way to do this is to contact a real estate agent. They will be able to take a look at the property and give you a realistic idea of what it’s worth. This information will be invaluable when you’re making decisions about what to do with the property.

Consider their commission costs

Working with the best real estate agents in Oceanside also means adhering to strict commission prices to get results from them. Real estate agents typically charge between 5-6% of the listing price, so only approach one if you know you can afford their rate.

Get the property inspected by a licensed inspector

Before you buy a home, it’s important to have it inspected by a licensed home inspector. This will help to ensure that you’re aware of any potential problems with the property before you finalize the purchase.

What is a home inspector?

A home inspector will check for things like structural damage, leaks, and electrical issues. They can also assess the condition of the home’s plumbing and HVAC systems. If any major problems are found, you may be able to negotiate a lower purchase price or ask the seller to make repairs before you close on the deal. In either case, it’s important to have a clear understanding of what you’re getting into before you buy a home.

Determine what repairs need to be made and how much they will cost

Most likely, your Oceanside property will need some repairs before it’s truly livable. Here are some common repairs that inherited properties often need, along with approximate cost estimates.

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Outdated Wiring

One common issue is outdated or damaged wiring. This is especially common in older homes. If the wiring isn’t up to code, it will need to be completely replaced – and that’s not cheap. Expect to pay around $2,000 – $4,000 for this repair.
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Foundation Damage

Another common issue is foundation damage. This is usually caused by water or insect damage and can be expensive to fix. Depending on the severity of the damage, repairs can cost anywhere from $1,000 to $10,000 or more.

List the property for sale on the MLS and wait for offers

MLS stands for Multiple Listing Service, and it’s a platform where real estate agents and brokers can list properties for sale. By listing your property on the MLS, you’ll make it easier for potential buyers to find and contact you. And, because MLS is such a popular platform, you’re likely to receive a lot of offers. Just be sure to work with an experienced real estate agent or broker who can help you navigate the process.

Sell your Oceanside property to a cash home buyer

You won’t have to worry about making any repairs or improvements, and you can usually close the deal within a few days. Plus, you’ll get cash in hand, so you won’t have to worry about financing. If you’re looking for a hassle-free way to sell your Oceanside property, cash home buyers are definitely worth considering.

We buy houses in Oceanside here at Ignite Property Solutions, and you won’t have to wait weeks just to profit from your inherited home. Set an appointment with us through our website today!

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