Why do we say that inheritance of a property isn’t always a good thing? Well it isn’t liquid cash which can be equally divided between the benefactors and you may experience a few reasons to why you struggle to sell the property.
Firstly the property may need a refurbishment, which can prove to be quite costly, before you can attract any interest on the open market.
Secondly selling via an estate agent can take from Three to Six months if you’re lucky, and even if someone does put in an offer it doesn’t guarantee the sale. They may not be able to obtain the finance from a mortgage lender or may become stuck in a chain.
Lastly this property may not be in your local area, which could cause problems when trying to manage it. The last thing you want is the property to remain empty for a few months then for an estate agent to call you explaining the keys no longer works and the property may be occupied by squatters.
The most efficient way to make sure all the benefactors of the property get what they want is to sell the property for cash. You wouldn’t be burdened to renovate the property and you wont have to wait 6 months for an offer.
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