Inherited a House in San Antonio? What To Do…Sell or Rent???

First of all, and please don’t take this as an insincere sentiment, but we’re very sorry for the loss of your loved one 🙁 We don’t know each other- we’ve never met. Chances are you’ve never heard of us, but the team at Lucky Longhorn Real Estate LLC. recognizes how difficult the passing of a loved one can be. We know this can be a very challenging time for multiple reasons, and dealing with property ownership is tough at the best of times.

You’re probably thinking, “I inherited a house in San Antonio, what to do with this house?” Should I rent it? Should I sell it?  How should I sell it?

Tons of options open for you, but…

… we can help.

We’re seasoned investors in San Antonio real estate, and we’re looking to buy several houses each month in the San Antonio area. Every month we get calls from those who have inherited a house  in San Antonioand are looking to sell the house quickly… so the info below are some great tips to help you understand the process.

Inherited A House in San Antonio, What To Do Next?

Here’s a few important considerations to help you make the right decision:

1) Make sure the mortgage is paid.

You NEED to know how a LATE mortgage payment could affect your CREDIT SCORE!

This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to hold on the property). Some banks will let you to assume the loan, while others may force you to refinance into a new loan. If you don’t qualify for a new loan, renting out your San Antonio property may not be an option for you.

2) The investment is only as good as the manager.

If dealing with San Antonio brokers, tenants, maintenance, rent collection and all the nuances of property management isn’t the best use of your time, hire a San Antonio professional to help you or cash out now.  Some people who inherit homes in San Antonio decide to keep the house and rent it for extra income. That’s certainly a great strategy for sure. You just need to be prepared to manage the {market_city]property and the hassles that can go along with tenants and toilets.

3) Property ownership costs money.

A house we were about to close in Harlandale early this year! The sellers were very grateful and we we’re happy to help!

It’s rare to see a building in San Antonio that’s been perfectly maintained. Most inherited houses need major improvements.

Consider hiring a professional property inspector to give you a detailed rundown on what you’ll need to do within the next five years, along with estimated costs. Surprises are very, very expensive.

4) Selling a property in San Antonio for top dollar costs money.

If you don’t want to deal with making repairs, updating kitchens, improving landscaping and overall cleanup, don’t worry. We buy houses cash San Antonio houses, as-is.

5) If the San Antonio market will continue to grow faster than your other options, hang on to the investment.

We can help you analyze the value of your property today versus the long-term benefits of renting. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don’t have anything better to do with the money and the neighborhood is rising in value, hang on – real estate can be a great investment if you know how to correctly read the market.

6) Uncle Sam wants a piece of the action.

Don’t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.

7) Consider all your options.

In certain situations we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time – capturing the best of both worlds. These kinds of deals can be complicated, but our San Antonio investment experience can help you win.

8) Compare a few scenarios.

We’ll help you determine prices for any property near San Antonio – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).

Just call us today at (210) 802-8153 or contact us now for more information
on how we can make you a fair cash offer on your inherited house today!

 

We buy houses cash in San Antonio, TX 78023, 78056, 78073, 78109, 78112, 78154, 78201, 78202, 78203, 78204, 78205, 78207, 78208, 78209, 78210, 78211, 78212, 78213, 78214, 78215, 78216, 78217, 78218, 78219, 78220, 78221, 78222, 78223, 78224, 78225, 78226, 78227, 78228, 78229, 78230, 78231, 78232, 78233, 78234, 78235, 78236, 78237, 78238, 78239, 78240, 78242, 78243, 78244, 78245, 78247, 78248, 78249, 78250, 78251, 78252, 78253, 78254, 78255, 78256, 78257, 78258, 78259, 78260, 78263, 78264, 78266 and all surrounding areas in TX. If you need a quick house sale in San Antonio, connect with us… we’d love to make you a fair no-obligation no-hassle offer. Take it or leave it. You’ve got nothing to lose 🙂

Want to Sell Your House or Investment Property?

We Buy Houses Cash in San Antonio!

  • Do you own a rental or investment property who is ready to sell, but doesn’t want to deal with the IRS tax consequences of selling your San Antonio house outright?
  • Are you the owner of an unwanted, out of town inherited property?
  • Untimely military deployment?
  • What about a job transfer you would love to pursue but can’t afford 2 house payments during the time needed to sell your house?

We have multiple offerings to choose from and we’re sure you’ll be happy working with us. Please feel free to navigate around the website and contact us if you have any questions or concerns. We would love the opportunity to work with you.

Contact Us Today for the Answers to All Your Real Estate Problems!!!   (210) 802-8153

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