5 Tips for People Who Have Inherited Real Estate in Springfield

We buy inherited houses Springfield MA
Inherited house Springfield

When you’ve inherited real estate in Springfield, it doesn’t necessarily mean congratulations are in order. Instead, it’s the beginning of a long road of decisions and details to handle at an emotionally difficult time. However, as the clock keeps ticking, holding costs will begin to add up, and you’ll need to take quick action to manage the property, or the outcome could be costly in many ways. 

Minor repairs that go unchecked can quickly become significant damage. In addition, you may face fines if an HOA is involved, violate zoning codes by allowing overgrowth of your landscaping, and it becomes apparent when a home has been abandoned for an extended period, tempting criminal elements. Sticking your head in the sand is a decision that could lead to costly consequences, including increased stress. So read on as we explore these five tips for people who have inherited real estate in Springfield 

Property Transfer

Our first tip for people who have inherited real estate in Springfield is to give it to a family member. However, you should be aware of the tax implications of this option, which could be more costly than leaving it as an inheritance. Therefore, you should consult an experienced real estate tax adviser whose recommendations you should consider before transferring the property.

Take Up Residence in your Inherited Real Estate

Our next tip for people who have inherited real estate in Springfield is to consider taking up residence. While well-meaning loved ones or close friends may have left you a piece of real estate as a token of their affection, life is not often like fairy tales. Their property may not be the type of home you’ve always dreamed of owning, or you may already live in the home of your dreams. Or perhaps it’s located in another state or across the country. Or perhaps you’ve inherited a home in a state of physical or financial distress, draining your wallet instead of magically producing the windfall of cash everyone imagines an inheritance of real estate brings. 

Rental Property

Another tip for people who have inherited real estate in Springfield is to rent it out as an income-producing property; however, this option can have hidden expenses. Nevertheless, you should understand the time commitment to managing a rental property. You’ll need the funds to afford periods of vacancy, handle repairs for your tenants promptly and deal with turnovers, which typically include replacements and upgrades to meet more current tenant demands and bring the highest return on the property. You’ll also need to deal with tenants, from the screening process to collecting back rent. You’ll also need to market to get tenants in place and possibly deal with evictions, which can be pretty intimidating, and missteps can be costly. Finally, you need well-honed people skills and must follow all laws governing landlords with any HOA, local ordinances, or state or federal laws, including in your advertising. 

Vacation Home

An excellent tip for people who have inherited real estate in Springfield is to turn it into your second home if you can afford to. It’s nice to have somewhere to get away that is yours; however, the responsibilities come with the benefits of a vacation home. Depending on the amount left on the mortgage, you may have house payments in addition to the insurance, taxes, and monthly utilities that continue to add up while you’re also paying for your primary residence. When you add it all up, you may be better off renting a luxury property for your vacations, leaving the headaches and expenses to the landlord.

Sell Your Inherited Real Estate

The best tip for people who have inherited real estate in Springfield is to take the quick and easy option, sell directly and walk away with cash in hand without paying high commissions and leave the work, worry, and financial risks associated with the property behind you. Working with a professional home buyer from Hampden Homebuyers will connect you with our network of the most highly regarded providers in the industry to help guide you with your property, including professional tax advisors. In addition, a local investor turned professional home buyer at Hampden Homebuyers can guide you through your selling options step-by-step with no obligation. At Hampden Homebuyers, we provide you with the information to make an educated decision about what will earn you the most profit and what is best for you when considering both your current personal and financial circumstances. When you receive an offer from a direct buyer at Hampden Homebuyers, we want you to agree it is fair; that is why our process is entirely transparent. Our contracts are simple, there are no hidden fees, and we even provide you with a guaranteed closing date. We want you, our neighbors, to feel good about the deal you make with Hampden Homebuyers long after closing. Call Hampden Homebuyers at (413) 248-7355.

Out of State Springfield Rental

So you bought a house, or two for an investment in Springfield MA or decided to move out of state and instead of selling the home you lived

We Buy Houses Springfield

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in, you decided to rent it out.  Then you moved out of state, perhaps to retire or make a career change, at any rate you now have to worry about renters.

Owning an out of state rental property can be extremely costly. Sometimes travel is necessary, unless you pay a costly management company. As we all know, renters come and go and it’s difficult to find a good one who wants to rent for more than a year. 30% of renters don’t stay more than a year as they have goals and aspirations of their own, or perhaps they are just at a temporary job or not sure what the future holds for them, nevertheless, they won’t stay forever, which means you are constantly working. Working on a home you never plan to live in again. Is it really worth it? And if you moved away to “retire” and you still own that rental home elsewhere, you are still tied down. No one wants to be tied down while retired.

Rentals also need constant repairs, yard-work, updating and TLC, which is another reason you will remain at your renter’s beck and call. Even a newer home can have problems and need maintenance upkeep.

Traveling back and forth to your Springfield rental can be a drain on your bank account, along with time taken away from other things, like family, hobbies and fun travel. Some things to think about when thinking of selling your out of state rental home~~ you’ll save time and money and have peace of mind, along with cashing out that equity that you may need for more important things.

If you live out of state and are thinking of selling your Springfield house, contact us today at 413-248-7355 or fill out our sell fast form at https://hampdenhomebuyers.com/

NEED TO SELL YOUR HOME? WE BUY HOUSES

NEED TO SELL YOUR HOME? WE BUY HOUSES FAST IN WESTERN MASS!

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Hundreds and thousands of people throughout the Hampden and Hampshire County areas find themselves in a rush to sell their property every year. Many of them even end up losing their homes to their bank, their debtors, the government or their homeowners association. We buy houses fast for cash, and we have helped many homeowners in your situation. As a local and reputable company in Western Mass we understand what you are going through, your challenges, your worries, and your fears.

At Hampden Homebuyers we will work diligently to understand your real estate problem and offer you an effective solution. It doesn’t matter why you want or need to sell your house, we are interested in buying it! We make the process of selling your house as hassle free as possible.

Contact us to get the highest cash offer for your Western Mass Home.

Need to sell your house fast? We buy houses in any condition, any price range, anywhere.

  • WE BUY HOUSES FAST – When you sell your home to us, you can expect a fast sale. Paying cash allows us to close faster than most other buyers.
  • WE ARE PERSONALLY INVOLVED– You won’t be dealing with some big corporation when selling to us. Our process is quick, easy and hassle free.
  • QUICK OFFERS – We try to get you an offer as soon as possible. Usually within 24 hours.
  • WE BUY AS-IS – Don’t worry about making those repairs or even cleaning out that house. We will buy any house exactly the way it is.

[Read more…]

Are You Saying “I Need To Sell My House in Springfield”

Sell House Springfield

Are you stressed and worried about how to sell your house quickly in Springfield?

Are you you looking for and easy way to sell without any hassle?

In this article you’ll discover some things you can do to sell your Springfield house quickly.

There are lots of reasons homeowners need to sell their house fast.  We listed a few of these reasons below:

  • need to relocate to another city because of a job change
  • vacant property is starting to become a burden
  • you are going through divorce situation
  • you recently experienced some financial hardship
  • you inherited a house and it’s a hassle to deal with
  • … to many repairs needed, bad tenants, the list goes on and on… [Read more…]

Need To Sell Your Springfield House NOW? We Buy Houses Cash!

How to Sell Your House ‘As Is’ at a Fair Price on the Date of Your ChoiceWe Buy Houses Springfield

Sell House Springfield

Sell House Springfield

 

If you want to sell your Springfield area house in the fastest, easiest, and most convenient manner, read this important message. You may discover the perfect solution… because we buy many houses throughout Western MA.

Selling a house is usually an expensive and complicated process. That’s why real estate agents make thousands (sometimes tens of thousands) of dollars on a single sale. But, when we buy your Springfield house, there are no commissions to pay. And you certainly won’t have to tolerate dozens of total and sometimes frightening strangers tramping through your home and poking through your drawers and closets.

We are a real estate investment company that works in the greater Springfield area and we buy a number of houses each month throughout the region… and in every price range. But the best part is… we use private funds that require no long, drawn out bank approvals. So we can act fast! We can usually close within 14 days… or as little as 72 hours. We’re as serious about buying your house as you are about selling it.

That’s the biggest difference between us and listing with a real estate agent. An agent will list your house… hoping it sells within 3 to 6 months. I want to buy your house… now! That’s a huge difference when you’re the one with the house for sale. An agent lists five, ten, even dozens of houses at a time, and it’s rare if an agent can give all of those properties his or her close personal attention. It’s no wonder that a listed home can sometimes take a long time to sell while you, the owner, are stuck maintaining the property and making house payments month after month.

What’s your alternative? Of course you could just sell it yourself – without an agent. After all, who knows more about the house than you do? But consider this. How many houses have you bought and sold in your lifetime? Two, maybe three? If so, you haven’t had to solve even a fraction of the problems that usually pop up – right before closing.

Remember, buying a house is a big decision for most people and it’s easy for them to get “spooked.” At the first sign of a complication or small problem (like a lien, necessary repair, or one of the other typical closing glitches), they can run like a scared jackrabbit.

Then you have to start all over at square one – it’s a frustrating experience. Plus, when you try to sell it yourself, you still have to put up with dozens of strangers tramping through your home – only now you’ll have to be there yourself. For some owners, that’s a scary thought. And what if you need to move fast? You could dump the price and hope someone will steal your house, but can you afford to do that? Or, you could go ahead, move out, and leave it with the agent. And every month, while making two huge mortgage payments (most people find that tough to swallow), you hope and pray that someone will buy your old house next month – and the next – and the next. Of course, that’s assuming you can even qualify for a new mortgage with the old one still on your back.

And when it’s sitting vacant, what’s going to stop someone from climbing through the kitchen window and tearing up your property? Frankly, that’s more worry and aggravation than most people need in a lifetime. Pretty grim, huh?

Which way do you turn? To an agent with dozens of other listings to handle? Selling on your own and sweating out financing details, lost deals, last minute closing “surprises”? Moving out and hoping you don’t get some midnight call with “bad news” about your house?

Here’s a better solution – a way out…

When Hampden Homebuyers buys your house “as is” for CASH on the date of your choice, we might help you AVOID…

Putting your house on the market entirely.
Coming out of pocket if you have little or no equity..Relying on an agent to perform or keep their promises.
Doing fix-up work to please a picky buyer…
Becoming an unwanted landlord.
Counting on a bank to approve your buyer’s loan.
Having your buyer back out at the last minute.
Paying prepayment penalties…
Having the cash you need NOW tied up in your house…
Struggling with the uncertainty of when it will sell
Making house payments you can no longer afford
Making payments on a vacant house.
Foreclosure or bankruptcy.

If your property qualifies and we come out to see it, we will provide you with a firm written offer. We’ll explain everything to you in plain, everyday English. We’ll be 100% direct, clear and honest with you… from start to finish.

In fact, we can usually “pre-qualify” your home right over the phone, in just a few minutes. That can save both of us time. If we come to an agreement, we can pay all cash with no contingencies. That’s because (unlike most potential buyers) we don’t have to sell another house first.

And if you want, we can close in just a few days. We’ll handle all of the paperwork and make all the arrangements and you can get on with your life! We don’t yet know your particular reasons for selling, but we do know how to get your house closed as quickly and professionally as possible.

Imagine, by this time next week your house could be sold!

Can we really buy your house this quickly and easily? Maybe, or maybe not. A lot of it depends on you. If you want to get above market price for your house, don’t bother calling us. We are professionals and we do expect to make a profit. Our offers are very “fair” and well thought out.

Does your property meet our requirements? Call our office and let’s find out. We buy all types of real estate and we can quickly determine if your house fits our investment needs. If we don’t end up buying your house, we’ll be happy to share ideas or advice on what you might try next. You will still have all your other options available. You have nothing to lose by calling us first.

So… give us a call at 413-248-SELL or fill out our “Sell Your House Fast” form on our website http://www.myhousesoldnow.com/ to get the ball rolling.

When you need to sell you Springfield house now, we are the #1 choice!!