What to Do with an Unwanted Inherited Property in Yuma, AZ

Unexpectedly inheriting a house can be overwhelming, especially if the property is unwanted or in another state. Not only are you processing the loss of a loved one, but you have to figure out the often complicated process of listing and selling it. When it comes to an unwanted inherited property Yuma, AZ residents and heirs in other counties or states must know their options before selling. If you’re ready to sell your inherited house fast in Yuma, here are your options.

In this guide, we’ll discuss the options when you’re ready to sell inherited property fast Yuma and nearby areas. No matter your reason, with the right guidance, you can sell an unwanted inherited property quickly and easily.

Common Reasons People Don’t Want an Inherited Property

While there are times when receiving an inherited property is a wonderful gift, the truth is that for many, it’s a burden. There are many reasons why you may want to sell your inherited property, which are all unique and valid.

You live out of state

A popular reason why heirs choose to sell their unwanted property Yuma, AZ is that they live out of state. Owning a home is a major responsibility; it requires constant upkeep and attention. Out-of-state houses can quickly become run-down due to a lack of maintenance. For most people, traveling to a property in another state every month or so simply isn’t feasible, so it can quickly become a huge expense and headache.

The property needs too many repairs

Unfortunately, it’s very common for inherited properties to require extensive repairs, since many houses are left by the elderly. Often, they lack the financial resources or physical ability to make necessary repairs to their home, leading to a snowball of costly fixes. Some of the most common repair needs for inherited homes include:

• New roof
• HVAC repair or replacement
• Plumbing issues
• Electrical problems
• Window damage
• Mold
• Drywall
• And more

The more expensive the damage, the higher the cost. Many beneficiaries of an inherited home don’t have the resources or desire to make the required repairs, especially if they don’t plan to live in the house. Selling the property is a faster and easier option, limiting their losses and financial responsibility.

Bad memories or emotional baggage

Another common reason why you may not want to keep your inherited house is that the property holds too many bad memories or emotional baggage. This scenario is often true when a parent or parental figure passes. For many people, revisiting a house where they experienced trauma is very triggering and can bring up hurtful memories and feelings they’ve left in the past.

Suddenly being confronted with these emotions by inheriting the house can cause a setback or raise negative feelings. Not only can selling an unwanted property be a wise financial decision, but you may be surprised at how healing it is, allowing you to release emotional baggage that you’ve carried for years.

Too much responsibility

No matter your age, owning a house is a massive responsibility. There’s so many different aspects to the property you have to take care of, from the upkeep and management to taxes and insurance. Many people already have a lot on their plates, and taking care of an unexpected house is the last thing they want or need. There’s nothing wrong with not wanting the added commitment that comes with owning an inherited property; many people feel the same way.

Already Own a home/Don’t Need It

There’s a saying, “Too much of a good thing is never good,” and when it comes to owning multiple houses, it’s very true. If you already own a home, unexpectedly inheriting another one can be incredibly overwhelming. Suddenly, there’s double the responsibility for upkeep, bills, and maintenance. The burden of having another property when you already own a home is often too much, and many people find they simply don’t need it.

Whether you relate to one or multiple of the reasons above, the good news is that you have options when it comes to your unwanted inherited property Yuma, AZ.

What Are Your Options for an Unwanted Inherited Home in Yuma?

After you’ve found out that you’ve inherited a property you don’t want in Yuma, AZ, you need to decide what you plan to do with it. As an heir, there are a few options available to you.

Keep it and rent it out

An inherited property can be a good investment opportunity if you’re looking to grow your financial portfolio and diversify your investments. Some people may choose to keep it and rent it out to tenants. While this may be a good option for those who live in the area, it requires constant management and isn’t the “passive income” some try to make it out to be.

When renting out a property, you’ll want to use a management company to make the process easier. They can help you collect rent, deal with tenant complaints and repairs, and handle evictions. While property managers are helpful, they come at a high cost, which can significantly cut into any possible profit you could make from the property. What are the pros and cons of using your inherited house as a rental property?

Pros

• Keeping the property in the family
• Earning additional income
• Investment diversification

Cons

• Requires constant management
• Dealing with tenants can be challenging
• You’re financially responsible for repairs, taxes, insurance, etc.
• Using a property management company is expensive
• Out-of-state owners can’t monitor the property

With an unwanted inherited property Yuma AZ, residents can check in on the house and take care of issues when needed. However, if you live out of state or don’t have time to spend constantly managing the house, it may not be your best option.

Fix and sell with a realtor

If you want to sell an inherited house in Yuma, properties often sit several months on the market, especially if repairs are needed. Using a realtor may seem like a good option, but you have to consider how much you’re willing to pay to offload the house. For example, realtors typically earn 6% of the property’s sale price on every house.

That means that if your inherited house sells for $300,000, you’ll have to give them $18,000 for the sale. That’s on top of the additional expenses you may have, including the closing costs, capital gains tax, property assessment, property taxes, mortgage payments, insurance, and repairs.

In addition to the cost of selling your inherited home with a realtor, you also have to keep the timeframe in mind. Depending on the circumstances, you’ll have to go through probate, which is how the courts legally validate and distribute the decedent’s will and assets. In Arizona, probate can take up to a year. The market conditions and the amount of repairs can also impact how long the sale takes, so from start to finish, if you choose to sell your inherited house with a realtor, it could take several months. That’s why many heirs choose a direct, as-is cash sale to avoid repairs, showings, and long timelines. Prefer a faster route? Start here: cash home buyers in Yuma.

Sell as-is for cash to a local buyer

If you don’t want to deal with the time and expense of selling your inherited property through a realtor, you can choose to sell as-is to a local buyer. When looking to sell inherited property fast Yuma houses require a trusted and experienced company like Red Rock Properties. This option is the quickest, with the least amount of stress, since you don’t have to worry about repairs or a long, drawn-out listing process. No commissions, and we cover standard seller closing costs (owner’s title policy, escrow/settlement, recording, and transfer tax where applicable). You’re only responsible for any existing loan payoff, liens/judgments, delinquent taxes/HOA dues, or utilities already owed.

With Red Rock Properties, you can sell your inherited property in weeks instead of months or years, receiving a fair cash offer without repairs or showings. Many people who have unwanted inherited houses choose this option because it’s fast and easy. Whether it’s a new build or a house that’s seen better days, selling as-is is an excellent choice for unloading an unwanted inherited property.

What You’ll Need to Sell the Property

When selling an inherited property in Yuma, AZ, have these documents ready to avoid delays (see our full checklist for details). Here is a brief checklist of documents you’ll need to have on hand, but for a more comprehensive list, click here.

Key Documents Needed to Sell an Inherited Property in Yuma, AZ

• Death Certificate
• Will or Trust
• Letters of Personal Representative
• Probate Court Approval
• Affidavit of Succession
• Title Deed
• Tax Info & Mortgage Payoff

Why Selling As-Is for Cash Works Well in Yuma

You may have seen an advertisement like “We buy houses Yuma Arizona,” but have you ever wondered why a company that buys houses as-is, like Red Rock Properties, is so popular in Yuma? Here are a few of the top reasons:

• Many older homes with deferred maintenance – Yuma has a high concentration of older homes that require extensive and costly repairs.

• Easier to sell without repairs – Selling an inherited property without worrying about the time and expense of repairs is much easier.

• Avoid agent fees and long waits – Avoiding the high agent’s fees and long waiting time on the market means you can sell your inherited home quickly.

Red Rock Properties is local to Arizona, with a professional and experienced team that has a comprehensive understanding of the Yuma market. With Red Rock, you can close quickly on your inherited house, without the need to clean it out or make repairs, for a quick, seamless selling process.

Helpful Local Yuma Resources

Here are some helpful local resources you can use when selling your inherited house.

• Yuma County Probate Court
• Clerk of the Superior Court
• Yuma County Public Health Services District

Sell Your Inherited House Quickly with Red Rock Properties

When it’s time to sell inherited property fast Yuma property owners turn to Red Rock Properties. With the fastest closing times and a fair cash offer without repairs or showings, Red Rock Properties is the easiest way to sell an inherited house in Yuma, AZ. Contact us today at 480.389.6484 or visit our Yuma home buying page for your no-obligation cash offer!