A yellow house with vibrant lawn and flowers.

Selling a house can often be a long, drawn-out process. But what about if you need to sell a house fast?

Anyone who has ever sold a house in the past understands it is often a long and drawn out process. In an effort to help reduce the waiting time and help individuals needing to sell complete the process faster, there are a large number of companies now offering this type of service. In fact, they offer customers the ability to sell their house in weeks, or even days, where the traditional method would take months, or longer.

A question many people have is what is the appeal of this “fast sell” process? Is it right for their particular situation? And, why would people opt for this, rather than selling their home the old-fashioned way? Some of the most common reasons someone may decide to sell their home quickly can be found here.

Family Issues

Family problems happen to everyone. But when those problems come in the form of strapped finances, they can throw everything into chaos.

When money is needed to take care of an unexpected expense, pay for health care for an ailing loved one, or something else, the most viable option is often to sell a house. If you’re short on the money needed to pay for a major expense like surgery or the ongoing care of an infirm loved one, selling your home may be the best way to finance things quickly. If you don’t have the luxury of time, selling via the traditional market won’t work. But selling a house fast for cash could be a solution.

Tax Issues and Divorce

If you owe back taxes to the government or are in the midst of divorce proceedings, selling your house fast for cash is an easy way to put those problems to bed. The profits from the sale can help you pay off your tax bill, and if you’re involved in a divorce, selling the house removes the stress of arguing over who should get to keep it or live in it. Both of these situations are often very time-sensitive, so selling fast for cash makes sense.

Tired of Being a Landlord

If you own one or more rental properties, you know how draining it can be to keep up with them. If you’re tired of dealing with nightmare tenants who either don’t pay or who damage your home, selling the house fast to a cash homebuyer can relieve you of your burdens.

The good news is, when a person utilizes the services offered by a cash for property company, they can feel confident they will get a fair price and that the process will be much shorter than if they were to sell their home the old fashioned way. This type of peace of mind, and fast cash, is invaluable when it comes to needing money or needing to unload any type or size of property.

Unfortunately, not all of these companies are created equal, which is why if you find yourself needing to sell you house fast for cash, it is important to do plenty of research before making a decision. Following the steps outlined here will help you find and use a quality company that will make your time worthwhile.

Find a Reputable Buyer

The first step you must take when trying to sell your home quickly, for cash, is to find a reputable buyer. Unfortunately, there are more than a few nefarious individuals and companies out there who are looking to “rip-off” unsuspecting homeowners who need to sell.

If you’re planning to sell to a cash homebuyer, you’ve got to do your homework! Research your options before making a decision. Look for a company with an established reputation, plenty of customer reviews, and a reputation for fairness.

Fill Out the Online Form

Once you have found a reputable buyer, you can fill out the online form (that any reputable company will have) to get the process started. This form will include basic information about you and your property. This is just the initial information that is gathered to begin the process that is followed to purchase your home.

Talk with the Buyer and Receive a Cash Offer

After filling out the form, a buyer will contact you. This buyer will likely have a cash offer ready to present to you to get the ball rolling. Now is the time to ask questions, as the process can move quite quickly from here!

Receive Your Contract

If the price offered is acceptable to you, you can move forward with the buying process. While you have the option to negotiate, remember that many offers are given sight unseen.

After accepting or agreeing to an offer, the buyer will send you your contract. This can be done via mail, email, or fax. You are required to sign the contract and return it to the buyer.

Close

Once all the paperwork is complete, the closing process will begin. Reputable companies offering cash for houses will cover the associated closing costs. Make sure to keep this in mind, since there are some unscrupulous companies that may try to get you to pay these fees.

Receive Your Payment

Once all the “i’s” are dotted and “t’s” are crossed, you will receive your payment via wire transfer, direct deposit, or check. And that’s it—the process really is that easy. In a number of situations, it can be completed in just a few days! 

For many homeowners, this home purchasing innovation is a godsend. If you’re in a situation like the ones listed above and need to sell your house fast, give us a call. We buy homes in all conditions and can get you to close in less than 30 days!

Determining how much it will cost you to sell your home through traditional real estate channels can be difficult. There are so many different types of fees and hidden costs to factor in. This is one of the main reasons homeowners are attracted to selling for cash.

Working with a cash homebuying company is a very transparent experience. You’ll be aware up front of any and all associated costs, so nothing will come as a surprise. It’s not the best fit for every homeowner, of course, but if you’re thinking, “How can I reduce the cost of selling my house?,” consider the following elements of how selling to a cash homebuyer compares to a traditional home sale.

1. Prep and Repair Costs

If you’re selling your home in the traditional manner, you’re going to need to invest a little cash up front to pretty things up for potential buyers. Whether this means doing serious staging or making functional and cosmetic repairs and upgrades, it’s going to cost you.

When selling to The Buy Guys, however, there is no need to stage your home for viewings. You also don’t have to worry about updating and outdated rooms or repairing problem spots. We’ll buy your home as-is!

2. Seller Concessions

When you sell your home via the mainstream real estate market, buyers have a lot of power. In cases where the home is less-than-perfect, they can demand you make certain repairs before the sale is finalized. Or they may ask you to make up for those shortcomings by reducing the cost of your home.

Either way, you may end up losing money unexpectedly. The Buy Guys, however, will never ask for reductions based on those things. The offer we give you will be final, fair, and competitive.

3. Fees and Commissions

This is a big one! If you’re selling in the traditional market, you’re going to be on the hook for realtor fees.

It’s unavoidable. You’ll cover commissions on the sale for both your realtor and your buyer’s realtor. Even if you decide to handle the sale yourself in a For Sale By Owner situation, you’re still responsible for covering the buyer’s realtor fees. When you work with The Buy Guys, there are no such fees for selling a house.

4. Moving Costs

The cost of selling your house on the traditional market can vary wildly. If your home moves quickly, you may also be pushed into a rushed move. This could incur costs for things such as movers, storage units, and temporary housing.

Depending on when in the month you leave, you may also still be responsible for things like utilities, HOA fees, insurance, and more. With The Buy Guys, you can set the date for your move-out. This removes the burden of unnecessary overlap costs and allows you the time you need to transition smoothly.

5. Closing Costs

Traditional closing costs are a killer for many homeowners. The cost can range from one to three percent of the total cost of the home, depending on differing fees and legal requirements.

When you sell to The Buy Guys, we handle almost all of the customary fees associated with the closing. You’ll only be responsible for your prorated portion of the county property taxes, a state tax (which amounts to roughly 0.7 percent of the sale price) and the remaining mortgage balance (if any).

As you can see, the fees for selling a house can vary significantly depending on your individual situation. Selling to a cash homebuyer removes a lot of those extra costs.

Keep this in mind when you receive your offer number. If you consider how much you’re saving by not having to shoulder those fees, you’ll be able to evaluate the offer more fairly.

If you’re looking to sell your house without taking on the associated hassle and fees of the traditional real estate market, give The Buy Guys a call today. We purchase homes in almost all conditions, and we can help you quickly and easily sell your home and move on to the next chapter of your life.

A checklist with two boxes.

Whether you’re in the market to sell your home or not, you’ve probably seen scores of “We Buy Houses” signs and billboards in your town. The industry has grown significantly in the last decade, and while there are some great companies in the cash homebuying sector, there are also plenty of scam artists.

If you’re open to selling your house for cash or allowing the buyer to take over the mortgage, partnering with a cash homebuying company is a great way to sell your house fast. But how do you choose the right company? And how do you avoid becoming a victim of a shady or opportunistic outfit?

When considering selling your home to a We Buy Houses company, it’s very important that you ask questions and make sure you are 100% clear on how everything will work. Below are a few questions that will help you determine if the buyer is legitimate and a good fit for your situation.

1. How Many Homes Have You Purchased?

Any cash homebuyer worth their salt will have a well-documented and public record of home purchases. Check your local county clerk’s website, and search for the buyer’s name in the registry of home sales.

Look at the actual deed documents, and confirm that they’re operating above board. If you find nothing in your searches, that’s a big red flag.

2. How Does Your Process Work?

Not all We Buy Houses companies work the same way. Some give quotes without seeing your home. Others will require inspections and appraisals like a traditional real estate buyer. Before getting into bed with anyone, confirm all the details of their process and make sure you’re comfortable with all the required terms.

3. Do You Have Customer Reviews?

A legitimate business will have a track record of customer interactions. These reviews will likely be presented on the company’s website. (If they don’t have a website, that’s another red flag.)

But remember that those reviews are curated by the company, so they may be unfairly slanted in their favor. When you look up the company, you should be able to access impartial Google reviews, and you’ll also want to check social sites like Facebook or Yelp to get a full picture of people’s experiences with them.

4. Are You Local?

It may not necessarily be a dealbreaker for you if the company is not located in your area, but it’s important that you know this ahead of time. Investors located in your area are more likely to understand the many factors that affect the value of your home. In addition, you’ll likely get a better price than you would from an out-of-state company that is just looking at comparable recent sales in your area but doesn’t understand the nuances of your market.

5. Why Should I Go With The Buy Guys and Not Some Other Company?

Again, legitimate We Buy Houses companies should be able to tell you why they’re the best choice for you. They should be confident in their processes and proud of their past work. They should be able to provide you with efficient and expedited service and help you get relief from your situation.

If you’re ready to sell your house for cash fast, give The Buy Guys a call. We work exclusively with individuals and our experienced, local team can get you a quote for your home almost instantly, putting you at the closing table in under 30 days. We have an extensive history of home purchases and legions of satisfied customers. Join them today, and walk away with cash in hand!

Open house yard sign.

Whether you’re buying, renting, or selling a home, you’re probably considering looking to a real estate agent for help. While there are plenty of great agents out there, there are abundant scams and hucksters too.

How can you protect yourselves from a bad real estate agent? Know their tricks!

Below are just a few of the markers of a real estate agent that you’d be better off without. If you’re looking for an agent now or considering whether you should fire the real estate agent you have, consider these points.

1. Dual Agency

If at any point in the process, your agent says they can serve as a “dual agent,” kick them to the curb right away. This means they would serve as the agent for both the buyer and the seller.

You might be thinking that the aims of these two parties are in direct opposition, and you’re right! How can an agent work towards the best interests of the seller (getting the best possible price for the home) and the buyer (getting the best deal possible on the property)? They can’t, plain and simple.

No matter what the agent tells you about being able to balance these needs, don’t trust them. At worst, they’ll completely let down one side of the equation, and at best they’ll be rendered a neutral middleman, doing nothing for either party.

2. Unnecessary Open Houses

Open houses have their place, but if your prospective agent tells you they can’t sell your home without holding an open house, keep looking for someone else to represent you. Many shady realtors use open houses as a way to prospect for future business, not caring about your needs or about how few sales actually result from open houses.

Any serious buyer will want a private showing of your home, and they’ll ask their realtor to set that up. Open houses attract window shoppers, nosy neighbors, and potentially even criminals interested in casing your home. They should be considered a possibility, but never a necessity, when selling your home.

3. Pricing Inflation

It may be tempting to go with an agent that promises you they can get top dollar for your home. But if they can’t show you proof that the market will support that pricing, be suspicious.

Any good agent will show you comps (comparisons) to other homes in your area similar to your own that have sold in the last few months. They will talk you through why they are suggesting a particular price and will be honest with you about the realities of the market, even if that means you’re pricing your home lower than you had hoped to. Beware of anyone showing you numbers that feel too good to be true.

4. Broken Promises

Any real estate agent with good sense wants to win your business, so when you first speak with them, they’ll make all sorts of promises. They may tout their impressive marketing and social media skills and guarantee you top-notch photos and videos hosted on a beautiful website.

But if you’re a few weeks into the process and not seeing results, don’t just sit by. It can be an uncomfortable thing to fire a real estate agent, but selling your home is a major undertaking. If the person who is supposed to be in your corner isn’t living up to their promises, you need to find someone who will.

If you’re fed up with your bad real estate agent and are just ready to sell, you do have other options. You can always go the For Sale By Owner route, cutting the agent out of the process. This will require more time and energy on your part, as well as a thorough understanding of the home sale process, including all the necessary paperwork and legal documentation.

If that doesn’t sound like your cup of tea, you can always sell to a cash homebuyer. They handle all the paperwork and legalities, and you can walk away with cash in hand. You won’t have to make any repairs to your home or endure staging, showing, or open houses.

If you’re ready to sell your house and be done, give us a call today. We can get you a quote in minutes and have you at the closing table in less than 30 days!

A house with a for sale yard sign in the front lawn.

If you’ve had your house on the market for a while and have seen no interest from buyers, it’s understandable that you would be frustrated. And the longer a home sits on the market, the more buyers start to wonder what’s wrong with it.

If you’ve watched the seasons turn (maybe more than once) and still your house won’t sell, you need to make a new plan. Which option is best for you will depend on your personal financial and life situations, but here are the five best avenues to explore.

1. Postpone Your Plans

What if you had your heart set on selling, but so did all of your neighbors? If the market is flooded with available homes (especially if they’re in better condition or at a better price point than yours), it’s going to be tough to make a sale. That kind of buyer’s market often spells disappointment for the sellers.

If you’re not in a time crunch or in a bind financially, your best bet may be to pump the brakes. The real estate market fluctuates constantly, so six months from now your house could be one of only a few available in your area, creating scarcity that will drive demand. If you’re able to hold off, your patience may prove quite profitable.

2. Get an Agent

If you’ve had no luck trying to sell your home on your own, it may be time to call in a professional. You’ll get the benefits of professional staging, photography, and listings as well as someone to coordinate showings and handle the extensive paperwork that comes along with selling a home.

Do your research first, make sure the agent has a proven sales record, and understand the costs up-front. While an agent may be able to help you sell your home on a faster timeline, they will take a percentage of your sales profit for their commission. You have to decide if the trade-offs are worth it to you.

3. Consider a Short Sale

If you’re upside down on your mortgage and scraping to make it by, selling your home quickly can feel like a desperate necessity. But what if you owe more than the house is realistically worth? You’re in a much tighter spot than the normal seller, but you do have a possible out.

If you can speak with your lender, they may agree to the terms of a short sale. This means that you’ll sell the home for the maximum amount possible and pay that amount in full to the lender, even if it doesn’t equal the total you owe them. They’ll agree to take that “short” cash and let you off the hook for the rest.

Be forewarned that short sales are not always an option. (It’s totally up to your lender to allow it.) In addition, these sales can take months or even years to complete.

4. Take Matters Into Your Own Hands

Maybe you’ve had your home listed with an agent and been unimpressed with the results. You could always go the FSBO (For Sale By Owner) route. This means that every penny you make from the sale will stay in your pocket because there won’t be any fees or commissions to pay out.

However, you’ll need to retain and pay a title attorney, and you’ll need to make absolutely sure you fully understand all the necessary paperwork and financial elements of the sale. It will also be your responsibility to make any needed repairs, to stage and photograph your home, and to create and manage the listings and showings.

5. Sell Quickly for Cash

If you’re tired of waiting around for the perfect time or the perfect set of circumstances to sell your home, selling quickly to a cash homebuyer may be your answer. You won’t be required to make any repairs or upgrades, nor will you need to photograph or stage your home. There will be no need to endure months of showings or hand over a percentage of your profits to an agent.

If you’re ready to say goodbye to a house that won’t sell, give us a call. The Buy Guys team works exclusively with individual homeowners, and we can get you a fair cash offer almost instantly and have you at the closing table in 30 days or less.

Don’t let your home become an unnecessary burden. Call today, and let us help you sell.

House icon sitting in the grass.

The question on many homeowners’ minds these days is, “Should I sell my house?” Like most things in life, timing is everything when it comes to real estate.

The industry is notorious for its fluctuations, so putting your home on the market this week could mean something entirely different from doing it three weeks from now. If you’re debating the best time to sell a house, there are a few things you should consider first.

1. What Does the Local Market Look Like?

There are a lot of elements involved in this one. First off, consider the broader market: Are homes selling in your city? How about in your neighborhood? If so, how quickly are they selling?

The shorter the DOM (days on market) number is for comparable homes in your area, the better likelihood you have of successfully selling your home—perhaps even for a higher price. If the market is flooded with available homes—especially ones comparable to yours—you may want to hold off for a bit.

Scarcity drives interest, and you’re likely to get a better price for your home if there is less competition from other sellers. If homes are flying off the market in record time, though, your area might in the midst of a boom that you should take advantage of.

It’s also smart to look for patterns in your local market. Spring and summer have always been considered high-season for home sales, but it may vary depending upon your specific location. Warmer climates often have more stable year-round markets, whereas many markets dry up once the school year begins. Florida specifically sees its peak home sale numbers yearly in the month of May.

2. What Is Your Timeline?

Deciding to move is frequently very emotional for a homeowner. You’ve put so much into your home over the years, and walking away can be tough. But if the space no longer meets your needs, it’s time to go.

Perhaps your kids are grown and gone, and your space is simply too hard to maintain anymore. Or maybe your family is growing, and you feel like you’re bursting the seams of your current home.

If you have the luxury of a bit of time to repair, stage, and show your home while looking for new accommodations, then you can watch the market more closely before making your move. If, on the other hand, you need to move quickly due to a change in employment or a sudden family issue (aging parents, an ill family member, a surprise pregnancy, etc.) you may not be able to wait until the timing is perfect.

3. Does It Make Financial Sense?

If you’ve lived in your home for a short amount of time, it can be hard to recoup your investment by selling. You need to have lived in your home for at least two of the last five years before a sale to avoid paying capital gains taxes on any profit you make from the sale. Likewise, if you’ve gone upside down on your mortgage (in other words, if you owe more than your home is worth), then selling now could mean taking a big loss.

On the flip side, if you have earned some equity in your home and the market conditions are favorable, selling now could be a smart financial move. The proceeds could help finance the purchase of a larger home if that’s what you need, or it could mean more available income for life’s necessities if you’re retiring or downsizing.

Time to Sell?

After evaluating your situation, if you feel like now is the best time to sell your house, consider what you want out of the experience. If you go the traditional route, you’ll be able to get slick professional photos and listings thanks to the assistance of a realtor, but you’ll lose out on some of the profit from the sale due to fees and commissions. It’s also likely that you’ll need to make repairs and upgrades to your home in order to fetch the best price possible.

If you don’t have a ton of time (or the budget) to fix things up and sit through months of showings and back-and-forth with potential buyers, then a cash homebuying company might be a better fit. You’ll be able to sell your home as-is and walk away with cash in hand. You’ll get the fair market value for your home with none of the hassle.

If you’ve been asking yourself, “Should I sell my house?” and the answer is yes, give us a call. The Buy Guys work exclusively with individuals and have helped thousands of homeowners move on to the next chapter of their lives by making their home sales quick and painless. We’d love the chance to help you do the same!

A home foreclosure sign.

The housing market crash of 2008 was a disastrous time for many homeowners. Home sales had been booming for years, and banks were handing out irresponsible—and untenable—zero-down loans like candy. When the recession hit and layoffs rolled in, many homeowners found themselves out of work and quickly upside-down on the mortgages they could barely afford in the first place.

The market has been focused on rebuilding and rebounding in the decade since, but many experts estimate that the bubble is once again becoming unstable and may burst soon. If you’re worried about the next housing crash potentially tanking your finances, you may be wondering how to protect yourself and asking, “Should I sell my house?”

It’s hard to know the best time to sell a house, but there are a few big things you need to evaluate if you hope to protect yourself from the next housing crash, which may be more a matter of “when” than “if.” To avoid defaulting on your mortgage, do the following.

1. Understand Your Budget

Lending isn’t as out of control as it once was, but many lenders still allow buyers to put down as little as three percent or less on the cost of their home. And real estate agents benefit—through their commissions—from selling higher-priced homes, so it’s in their interest to convince you that you can afford that spacious stunner you’ve got your eye on.

But don’t let a lender or an agent be the one to determine what you can afford. You should be spending no more than 25 to 28 percent of your monthly income on housing costs (mortgage, insurance, property taxes, and homeowner’s insurance combined). This way, if you fall into financial hardship, you’re not on the hook for a number you simply can’t meet.

2. Know Your Timeline

Many people buy a home simply because it feels like “time” to do so. But they often don’t think ahead about what the next five to 10 years of their life will look like.

If you think you may need to sell a home within five years of purchasing it, don’t buy it! It takes at least that long to level out your finances considering all the costs involved with buying and selling a home.

“Flipping” homes has also become very popular, but be aware that in today’s somewhat volatile market, you never know if you’ll be able to resell the home for a profit—or at all! It’s always a risk to buy a home you don’t plan to stay in for more than five years, so understanding your timeline and being comfortable with staying somewhere for a while if necessary is key. Otherwise, you’re better off renting.  

3. Protect Your Equity

Taking out loans against your home or leveraging that equity for other purchases is a very risky business. Yes, your home is a valuable asset, but you should avoid borrowing against its equity unless absolutely necessary.

Emergencies happen, but short of that, try to avoid tapping that well. And even for emergencies, do your best to have a different primary source of backup funding, such as a savings account or a mutual fund. Your home’s equity should be your last resort.

4. Get Out Now

If you’re worried that you’ve bought above your means or won’t be able to make your mortgage payments when the market inevitably takes a downturn, now might be the best time to sell a house. Prices hit a peak in the last quarter of 2018, and many major markets are starting to see falling prices and stagnation of sales. The time is now; if you’re in over your head, you need to take steps today to protect your family and your money.

If you’ve found yourself in a tight spot financially and are asking yourself, “Should I sell my house?,” give The Buy Guys a call today. We work exclusively with individuals, and our experienced team can get you a quote right away and help get you to the closing table in less than 30 days. Don’t take a chance and risk losing everything; make the smart call before it’s too late.

A distressed home for sale.

If you find yourself located in a less-than-desirable area of town, your home can easily become a hard-to-sell house. Whether the cause is heavy traffic, noisy surroundings, crime, or simply aesthetics, selling a house in a bad neighborhood comes with its own unique set of challenges.

Many homeowners find themselves in a situation like this when they decide to sell. Perhaps the area was lovely when you moved in but has since seen an increase in traffic or crime. Or maybe the surrounding homes have aged and fallen into disrepair, making the entire neighborhood look bad.

Whatever brought you here, the simple reality is that it’s harder to find buyers for a home in a neighborhood like yours. But not all hope is lost! You may not be sitting on property in the hippest part of town, but you still have a few viable options, including selling your house quickly for cash.

1. Drop the Price

It may pain you to realize this, but buyers won’t pay top dollar for a house in a bad neighborhood. Even if your house is in good shape, the downsides of your location remain. This is especially true if you live in a high-crime area.

There are buyers, however, who will accept the tradeoffs of a somewhat lackluster neighborhood if the price is right. Oftentimes when families are searching for small starter homes, they’re more willing to buy in the less ritzy part of town if it means they can stay under budget. They may also be willing to take on homes that need a little bit of TLC, which is often the case in more rundown neighborhoods.

Play around with the numbers, and see how much you’re willing and able to flex on your sale price. You might be surprised by how much interest you get.

2. Repair and Refresh

Doing some minor repairs and cosmetic touch-ups can make a hard-to-sell house come alive. Try applying a fresh coat of paint to brighten the walls, or plant some flowers in the front yard to enhance curb appeal. Small, affordable fixes like this can help potential buyers refocus on the positives of your home rather than fixating solely on the negatives of the surrounding neighborhood.

A word of caution here: Don’t spend too much. Many people think that doing expensive revamps of their homes will help cancel out the fact that it’s sitting in a bad neighborhood, but that’s not the case.

Costly upgrades will drive your asking price up and leave your wallet significantly lighter, and they still might not make enough difference to help the home sell. The name of the game here is keeping all changes minimal but impactful.

3. Sell As-Is to a Cash Homebuyer

If you’re not interested in investing time and money to make repairs or improvements to your home, but you’re also not ready to sell it for a loss, selling it as-is to a cash homebuying company could be a perfect fit. You’ll get a fair market price for your home but without having to set aside the time and money to go through the traditional real estate process.

If your neighborhood isn’t exactly known for its charms, it can be discouraging to figure out how you should go about selling your property. But selling a house in a bad neighborhood is possible! The Buy Guys have worked with many sellers in this exact situation to sell their homes quickly, and we’re happy to help you do the same. Call us today to learn more!

Green road sign that has the word inheritance on it.

Inheriting a home can be a very complex business. Depending on how you came to be in possession of the home (whether it’s paid for, and whether or not you have any co-owners), there could be many potential next steps from which to choose.

If you’ve recently inherited a house in Florida, you may be questioning your next move. This guide is here to detail your options, including your ability to sell the house fast for cash. First off, though, we need to answer a few questions.

1. How Did You Inherit—Deed, Will, or Trust?

It might not seem like it matters, but there is actually a big difference in how an inherited house in Florida should be handled based upon how exactly it became yours.

If you were given the house by deed, this means you were appointed the “remainderman” for the deceased’s estate, and when they passed, the house moved into your hands. There is no need to go through probate proceedings, and if you do choose to sell, you should have no issue, as your name will be on the title.

If your loved one died with them listed as the sole property owner but left you the house in their will, you’ll need to go through probate proceedings in order to move the title into your name officially. This means if you want to sell the home, you’ll need to complete that process first, which can sometimes take a few months.

If the deceased drew up a trust agreement declaring that you (or you and others) are entitled to the house upon their death, it will pass directly to you (and any other co-owners). If, however, the deceased leaves behind a spouse or minor children, you will have to go through the probate process in order to move the title to your name.

2. Do You Know The Tax Implications? 

Selling any asset for more than you paid for it can trigger capital gains taxes. But what if you didn’t pay for it, but rather inherited it? Unfortunately, you can still be on the hook for taxes if you inherited a house and want to sell it. Do you know your options? 

Tax rates change slightly every year based on inflation and other political factors. For the 2019 tax year, the tax percentages on house inheritance range from zero percent to 20 percent, depending on the amount of profit you made from the sale. 

3. How Do You Handle Probate?

If you need to file probate on the estate and the deceased has been gone more than two years, chances are things will move pretty quickly. With a good attorney, you could be set in as little as a week. If the person died very recently and you’re trying to sell the house, however, you may be in for a bit of a wait.

The probate process involves posting a notice to creditors in the local newspaper and giving any creditors who are owed by the estate four months to come forward. Selling a house in probate in Florida can take a little longer than normal, but once the judge declares you the new owner, you’ll be set to do whatever you wish with the property.

3. Is There a Mortgage?

If you inherit a home with an outstanding mortgage, you must assume the payments if you hope to avoid foreclosure. Each company will have its own process for how to deal with the homeowner’s death and move the account to your name, but you should alert them as soon as possible.

What if you can’t afford the mortgage? Under Florida law, a mortgage company cannot go after your personal bank account or assets if you choose to walk away from an inherited home and allow it to be foreclosed on. But should you choose to do so, retain a probate attorney to protect your interests.

4. Are There Other Owners?

The trickiest of all inheritance situations is when you inherit the property jointly with other family members. Under Florida law, all of you will be equally responsible for all financial obligations pertaining to the property, including debts and liabilities.

Typically one person takes point on being property manager, but beware that this can cause tension and resentment. If one of the owners is living in the house, that can also complicate things, as they may not want to pay their fair share, or they may refuse to sell despite everyone else wanting to. Immediately upon inheritance, all the heirs should discuss the situation and make a plan that’s agreeable to everyone (which is, sadly, often easier said than done).

If you have inherited a home, your options are typically to a) live in the home (or let one of the co-owners live in it); b) rent it; or c) sell it. Selling a house in probate in Florida can be a bit trickier, but if you quickly tackle the probate process, you’ll be good to go.

If you’re not interested in renting the home and being a landlord, and you want to avoid the infighting that often stems from sharing ownership of a home with siblings, selling may be your best option. If you’re ready to sell your inherited house in Florida quickly, call The Buy Guys today. We work exclusively with individuals, and we can have you ready to close and walk away with cash in your pocket in just 30 days!

The front yard of a Florida home trashed by bad tenants.

Being a landlord isn’t for the faint of heart. While a vast majority of renters are reasonable and respectful people, there are definitely nightmare tenants out there. Even if you think you’ve vetted them thoroughly, you might end up surprised by the destructive and negligent actions they take on your property.

If you’re dealing with a tenant-trashed rental property, you’re probably feeling overwhelmed. How do you handle moving forward? How do you stop the bleeding in terms of the financial loss you’re facing? Could this happen again? There are a few steps you can take to salvage this rotten situation.

1. Eviction Time

If the tenant is still living in your property, it’s time to serve them with an eviction notice. Some landlords are fine drafting this on their own, while others look to an attorney for help. Either way, make sure you’re abiding by the landlord-tenant laws in your state so that you’re protected. Also be aware that this process can be lengthy, and an irate tenant may do more damage to your property once they’re notified that you intend to evict them.

2. Lawyer Up

Once you remove the troublesome tenant, you may want to go about recovering cash for the damage they caused. This means taking your tenant to small claims court to seek compensation. But remember that legal fees will apply, and (if your tenant is truly destitute) there may be no way for you to get any money from them for repairs.

3. File a Claim

If you want to avoid the legal circus, your best bet is often to file a claim with your homeowner’s insurance. Your policy should cover damages made by your tenant. Be aware, though, that every time you file a claim, there is a risk your rates rise. (Once you make a claim, the likelihood that you’ll make another increases, making you a bigger insurance liability.)

4. Make the Repairs

If you want to get your rental house back on the market so you can continue generating income from it, repairs will need to be done. No one wants to live in a trashed house.

If the damage is small, you may be able to address it yourself. If all you need is a fresh coat of paint or some new window panes, it may be doable. But if the damage was more severe, you’ll likely need to bring in contractors to mediate things, which will of course incur additional costs.

5. Unload the Property

As the landlord, you have certain rights to your property. Your tenant, however, also have rights. Depending on your state, you may be required to give several days’ notice before you’re able to evict them. You may also be required to give a certain amount of notice before showings. Selling your house for cash to a company that deals with homes in need of repair is the easiest option for selling your house fast without infringing on your tenants’ rights–and without having to run the risk that they’ll scare off potential buyers.

What About a Fixed Term Lease?

Keep in mind that if you have a fixed term lease, you may have to wait for the lease to end before you’ll be able to sell the house and evict the tenant. Make sure you’re keeping track of how much time you have left so that you can be done with it as soon as possible! If you’re in a bind and simply ready to be done, look for an investment company that will be willing to purchase the house while the tenant is still there, adhering to the terms of their lease until it ends. In this case, the investment company will essentially purchase the lease along with the property, which means that you can move on with your life sooner. This method is ideal for many landlords, since it means that you’re going to have income from the house until it sells. Selling the home to your tenant is also an option, and some states may require you to give them first refusal before you put the house on the market.

Secure Tenant Cooperation

If you don’t plan to sell the house with the tenant in residence, the best way to proceed is to gain their cooperation in the process. There are several things you should consider when dealing with your tenant.

  • Explain how the process is going to work. Set out guidelines for when the house can be shown, how much notice you will give, and what condition you’d like the house to be in when you show it. This is, of course, most effective with a cooperative tenant.
  • Offer monetary incentive to help your tenant move on, whether that means returning their deposit in spite of damage to the house or even offering to pay their first month’s rent and deposit on a new residence.
  • Consider a discount on rent for tenants who are cooperative with the showing process. 

For you, your rental property is a source of income. For your tenants, whether good or bad, that property is a home. They may not be eager to move or to accept a new landlord, but most tenants will be willing to work with you in order to help the process proceed more smoothly. By selling your house for cash, especially if you work with an investment company who will keep the tenants on for the duration of your lease, you streamline the process and make it easier for everyone involved.