Inherited a property in Birmingham and considering your next steps? You may have more options than you realize. In this guide, we’ll explore the 3 financial paths available when selling an inherited property, helping you make the decision that brings the most peace of mind…
While inheriting property from a loved one can be a thoughtful legacy, the reality often includes unexpected responsibilities. Between mounting bills, ongoing maintenance, property taxes, and the emotional weight of managing a deceased loved one’s home, inherited properties can quickly become overwhelming, especially for out-of-town owners.
Your first instinct might be to call a real estate agent, but as a family-driven homebuyer with deep roots in the community, we want you to understand all your options. Did you know there are actually 3 financial options you can pursue when selling an inherited property in Birmingham? Each offers different advantages depending on your situation and timeline.
First, Let’s Talk About Selling Through An Agent…
While selling through a real estate agent is a common route, it often requires significant upfront investment to prepare the inherited home for market. You’ll likely need to make repairs, clean out personal belongings, stage the property, and then wait through showings and negotiations. After all that, you’ll still face closing costs and agent commissions that can eat into your inheritance. This process typically takes 3-6 months—time that many grieving families simply don’t have.
So what alternatives do you have as a homeowner facing this challenging situation? Let’s explore your other options with southern hospitality and straightforward advice.
Second, Let’s Look At The Other Options…
Option #1. Refinance
Refinancing your property with a bank is one alternative to selling outright. While you maintain ownership, this approach allows you to access your home’s equity for other financial needs. Some homeowners consider this option when their primary goal is accessing funds rather than completely parting with the property.
This approach gives you flexibility to continue living in the house or generate income by renting it out. Though you’ll need to manage the monthly loan payments, refinancing might be worth considering if you’re not ready to say goodbye to your property just yet.
Option #2. Rent To Own
Consider a long-term selling strategy through a rent-to-own arrangement. This option works well with tenants who desire homeownership but currently face mortgage approval challenges. They’ll pay regular rent while working toward purchasing your home—either by contributing additional funds above their rent toward the purchase price or by improving their credit situation to qualify for traditional financing down the road.
Option #3. Sell Fast For Cash
Many owners of inherited properties don’t realize they can sell their house quickly for cash with no hassle. Rather than listing with an agent (and waiting months for a potential buyer), you can work with a family-driven homebuyer like us at Merry Homes . With over a decade of local Birmingham experience, we purchase homes completely as-is—even severely distressed or neglected properties others might reject. We can close in as little as 7-14 days, handling everything from cleanout to closing. It’s a straightforward, friendly approach with no repairs, no cleaning, and no realtor fees—just southern hospitality and peace of mind.
There you have it! 3 financial options you can pursue when selling an inherited property in Birmingham!