First off, we are so sorry for your loss; we know this can be a challenging time for many reasons and adding a new property in can be exceptionally tough. I bet you’ve found yourself on several occasions just sitting with this new part of your life, “I inherited a house in Bristol, what are my options now? Sell? Rent? Now? Later?”
The options are pretty unlimited, depending on what situation you’re in.
If you do find yourself in a more limiting situation, I’d like to share how we can help because many people with inherited properties local to the Bristol area have found our services to be helpful. We’ve been buying properties here in Connecticut for over 15 years, so we’re experienced in creating solutions for all homeowners.
What Do I Do Next?
Here are a few important considerations to keep in mind when you have inherited a house in Bristol:
Make sure the mortgage is being paid on time.
This might sound like something that doesn’t need to be mentioned, but it’s very important so we always remind homeowners! Each mortgage company follows a different set of rules and regulations, therefore, it is important to open a line of communication to keep the mortgage in good standing.
An investment is only as good as the managing team behind it.
If you are considering keeping your newly inherited Bristol home as an investment property, some important factors to consider include: maintenance, tenants, rent collection, holding costs, amongst other out of pocket expenses. You just need to be prepared for a new hassles that come with rentals.
Homeownership costs money!
As mentioned above, owning additional property will costs additional money. Between general maintenance required, repairs from tenant caused issues, and general holding costs; it can get pricey owning multiple properties here in Connecticut.
Selling a property can also cost you!
If you’ve told your peers, “I inherited a house in Bristol, what do I do?”, odds are they given you the contact information for their real estate agent friend. This is where you learned all the repairs, painting and tag sales that are necessary to sell the inherited property for top dollar! Buyers in today’s market want a cleaned-out, empty home with a fresh coat of paint and new floors! If you cannot offer all of those things, you may want to consider a different route in order to alleviate yourself of the stress of selling!
Your Next Steps When You’ve Inherited a House in Bristol
Now that you’ve begun to consider what some of your options might entail: rent, sell, maintain, you can begin to form a plan. You can make a decision based on your life and how much extra time and money you have to continue investing when you have inherited a house in Bristol.
If time and money are not things you seem to have extra of; then you might consider receiving a no obligation, cash offer from us! When Valley Residential Group is your buyer, selling becomes easy.
Our offers always include: no cleaning, no repairs, no hassles, no commissions, no staging, no contingencies, no obligations and best of all, no risk. Each seller has a unique set of circumstances, and we pride ourselves on creating unique, win-win solutions. You did not ask for the added stress of an inherited property in your life right now, so let us help you gently move on to the next chapter.
Just call us today at 860-589-4663 or visit our website to fill out a form and our business owner will reach out to you personally to find out more about how we can help you and your family with your inherited house.