Selling a San Diego house with siblings after a death can be complicated undertaking. Selling a house, whether there has been a death or not, is quite a project that not everyone is up for. However, when dealing with multiple siblings, it means there are many cooks in the kitchen that can make the process a bit trickier. Today, Trusted House Buyers is here to give you a realistic overview of selling a San Diego house with siblings after a death and some tips to help you navigate the sale.
You’ve Inherited a House with Siblings . . . Now what?
Inheriting a home can come with mixed emotions, especially when you are also in the middle of the grieving process. It can be overwhelming to have to deal with undertaking the monumental task of selling a property you are now in charge of. What makes matters even more complicated, is when there are siblings involved. Here are some initial steps to take:
- Have a Family Meeting: It’s important that all siblings get on the same page when you are trying to sell a San Diego home after a death. Having a family meeting allows all parties to understand the task at hand. Designating jobs like dealing with the renovation and paperwork can be helpful in delegating the many tasks you are now in charge of.
- Make Necessary Repairs: Making necessary repairs is imperative if you are trying to sell your home on the traditional real estate market. NC Probate Solutions explains further that, “The mantra “first impressions count” or “potential buyer’s first impression” rings true when selling a property. Potential buyers will form their opinion of your home within the first few minutes of seeing it, and if they see that repairs have not been made, they may be turned off by what they see.” If buyers seem a home that is distressed and in disrepair, they are most likely to run out the door and onto the house that is shiny and renovated. Bringing a home into today’s standards means renovated kitchens, renovated bathrooms, new flooring, updated lighting, and modern fixtures and appliances. This means dollar signs and lots of them. To update a home can be a huge financial commitment that not everyone is willing to take. In addition, a home renovation not only takes a hefty budget, but it also means someone needs to spearhead the project that could take many, many months.
- Decide What to do with Belongings: Usually a home that has been inherited after a death has years and years of “stuff” that needs to be dealt with. When dealing with multiple siblings, you will need to all decide what needs to stay and what needs to go. An estate sale is usually helpful when dealing with a house that has volumes of belongings that need to be dealt with. Pods.com tells us that, “An estate sale is essentially a large sale of someone’s personal possessions — similar to a garage sale but on a much larger scale. Estate sales include a much higher volume of sale items and can feature high-ticket items, whereas garage or yard sales are usually just reserved for offloading a handful of second-hand bargain items.”
More Options When Selling with Siblings
- Live in the Home: One option is to decide amongst your siblings who would like to live in the home and take over the mortgage payments. It may be such a simple decision to uproot one’s family to move into the home of a family member that has passed, especially if the home is not updated or in a location close to home/school.
- Rent the Home: Deciding to rent the home is always an option, but you need to decide amongst the siblings who is going to be property manager. The property manager’s duties will include collecting rent, any security deposits, and dealing with maintenance and ongoing repairs. Hiring a property manager does help with the burden of tasks, but it comes at a cost. Good Life Management explains, “The average percentage for property management in San Diego typically falls between 7-10%. For example, if the monthly rent is $3,000 they’ll charge you between $210-$300 per month.”
- Sell the Home: Selling the home of a loved one that has passed and deciding to sell the home amongst siblings is a big decision. As noted, above, if you are looking to sell the house on the traditional San Diego real estate market, then dealing with repairs, renovations, and updates is imperative if you want to compete with other homes on the market in San Diego.
How Can Trusted House Buyers Help?
If you are underwater in decision making, you are not alone. Trying to sell a home after a death can be a big responsibility and a lot of weight for you and your siblings to carry. One of the simplest and most streamlined solutions, is selling your home to a cash buyer investor, like Trusted House Buyers. Let’s make this clear, not all cash buyers are created equal. At Trusted House Buyers, we pride ourselves on our reputation and full service approach to our clients. We are a family run business here in San Diego and treat each of our clients with the utmost respect and attention to detail. We are able to view your home and give you a fair cash offer for the current state of the home. We do not require inspections, repairs, or renovations. We will take your home in as-is condition, and the best part is you can leave any and all belongings behind. You do not need to deal with updating the kitchen, fixing old electrical work, renting the home, or dealing with an estate sale. We can usually close within 10 days, so you are your siblings can walk away from the property and split the profits. To hear more about how we can help you sell your San Diego house after a death in the family, give us a call at 619-786-0973 today. We look forward to helping!
