How To Price My Inherited Home In Sacramento For Sale

The Internet is chalked full of advise. You can find information on anything you want, from articles discussing the decision to sell an inherited house to how to price an inherited home in Sacramento.

One thing is almost for certain, most of the authors have have not done either. 

My name is Peter Westbrook and I am a real estate investor in Sacramento, Stockton and Modesto and I have purchased well over 90 inherited houses over the past several years. It is a specialty of mine and while some of the articles that I have read are quite good, they are not necessarily from from the trenches. 

For the most part, inheriting a house is a wonderful gift from a loved one that presents both an enormous opportunity and responsibility.  A lot of people believe that inheriting a house is like winning the lottery, I can assure you that it is not. Those that believe that it is have never been through it and if they were, they were fortunate that the estate had the resources to take care of all of the things that the inheritance required.

As a Cash home buyer in Sacramento it should come as no shock that I get to talk to a lot of people about what to do with an inherited house and the most unfortunate thing about it is that 95% of the people are not prepared to deal with the enormity of the responsibility. It has been my experience that most estates do not and have the financial resources to properly allow the beneficiary to keep the home and the most realistic outcome was the sale of the house.  I have written numerous blog articles and case studies about the realities, the family strife, and the financial burden that inheriting a house often presents.

In a lot of cases, the heirs are hit from all sides left to figure out what to do. Unfortunately most estates are not vested in living trusts, do not have sufficient assets to pay for the probate and may or may not be bale to pay for any of the other financial needs of the house… like the mortgage or property taxes. The new owners are thrust into a position of responsibility that they are often not prepared for and depending on the location and condition of the house, the heirs may not have the financial capability to keep up with the houses ongoing financial needs.

New owners learn quickly that they didn’t just inherit a house, they inherited at least 10 other things that are present 24X7;

  • New Neighbors (They have voices)
  • Property Taxes
  • Yard Maintenance (lawn, trees, etc)
  • House Maintenance (Ongoing Repairs to the house)
  • Utility Bills (Electric, water, sewer)
  • Civic responsibilities to keep the house clean and safe (Code Violations)
  • Mortgage payments
  • Insurance
  • Tenants
  • Squatters
  • Responsibility to Secure the House

So, here is my advise… Once you get over the initial shock, you have a lot of planning to do because inheriting a house in Sacramento has so many details that dont come in a handbook. There are no printed guides because each estate is different based on what the decedent had prepared in advance. Most people dont realize that even estates that have wills need to be probated and that requires and attorney. The problem is that most attorneys have large case loads and as a result are burdened by time restraints as well. You are not their only client and the truth is you dont want to be. But how much do you know about the process of probate?

The answer is that you dont need to as long as you can find and assemble a team that is prepared to do that for you. Life is about what you know and who you know and smart people know to get out of their own way by hiring other people that know how to move mountains. This is not just passive arm chair advise. This is what you need to do. Find someone that will be the General Manager of the Probate and who’s life is dependent on the successful Probate and sale of your house.

No it’s not an Attorney… they will not buy your house and I’ve already told you you are not their only client. They are not great drivers of information nor communicators and you will be the last to know what is going on.

No it’s not a real estate agent, they too will NOT buy your house and they dont understand the Probate process so they will not be able to manage it or your Probate Attorney.

So this all begs the question…. How are you going to find that person that will buy your house, manage your attorney and a Probate process and  have them pay for the whole thing? Great question.

Some Cash Home Buyers in Sacramento Can Manage a Probate

Drum-roll please…. You need to go out and find the cash home buyer for your inherited house and make them responsible for that sale and the successful Probate of the estate. It really is that simple and it is really necessary if you want things done correctly and timely. In life it is paramount that you find resources that can move mountains. It is important that those resources are properly incentivized and finally that they have a vested interest in the positive outcome of what you are seeking. As an employer I search for that every day. If I were in your shoes I’d hire me, because at the end of the day I am not going to make a dime until I buy your house.

Did you understand that. I am going to pay you to get your house through Probate. I am going to pay you to settle the estate and finally I am going to pay for that attorney and make sure that we all know what is going on.

So, your next move is NOT to hire a real estate agent. Your next move, if you are not hiring me, is to interview as many we buy houses companies as you can. You want them to do an analysis and explain to you how they are going buy your house and your house through the probate. You want them to make you feel comfortable with what they are doing.

Not all Cash Home Buyers in Sacramento are Created Equal

In today’s world, many cash home buyers in Sacramento (not the traditional real estate investors) have entered the market in hopes of locating properties for the real cash homebuyer. There are now two or three levels of cash home buyers and many dont have any cash or capital at all. Steer clear of these, they are middlemen and wholesales looking to jump in between you and me in any real estate transaction so they can skim a fee off of the top. They are easy to identify… ask them if they have their own money. Ask them to provide you with proof of funds and ask them if they are actually the people that will buy your house. They will tell you.

How To Price My Inherited Home In Sacramento For Sale?

You price an inherited house the same way that you would price any other house. You have to find the houses value and then you need to determine how you want to sell it. I have written many articles detailing how to determine the value of a house in Sacramento. This is no different. You access your the estates capabilities financially to deal with the sale of the house. You look at the value. You crunch the numbers and you determine how to spend the least amount of money to put the most amount of money in your pocket. It really is that simple.

Related Articles: What is my House worth in Sacramento?

So here is my advise.

Tip #1: Price Quick To Sell

Some people price their inherited property at an amount they think the market might pay for the house. However, there are many factors that go into this price and one of the biggest considerations is:

  • how fast do you want to sell?
  • Selling through an agent “on the market” can take months, and you’ll have to pay for the house and maintain the property the entire time. That can be costly and can eat into the higher price.

Many property owners quickly learn that they’re almost better off to price slightly lower for a faster sale… they might get less for the house but they also pay less on repairs, carrying costs, effort, and time, so it’s ultimately a trade-off that might turn out to be a total wash.

Tip #2: Avoid Pricing Based On Sentimental Value

One of the biggest challenges that property owners of inherited property face when trying to price their property for sale is separating the happy memories from the true value of the house. The house might be worth a certain amount on the market but you may have such fond memories of growing up in the house or of happy times in the house that you accidentally use that emotion to increase the price. (This is VERY common.)

A better approach would be to work with a real estate company and find out what they can offer you, and recognize that the price might be lower than you were expecting… not because the house isn’t worth as much but because your wonderful memories have accidentally inflated the price!

Tip #3: Build In Discounts For Repairs

If you inherited the property from a loved one who had lived in the property for many years then you might find out that the property needs some repairs. You could choose to do this work yourself and then ask for a higher price but why do that when you could save yourself the time and effort (and what you’d have to pay for equipment, supplies, or a contractor) and instead just ask for less and give a “repair discount”. That way you avoid the hassle of the work, and you still come out the same financially.

Summary

An inherited house can be a lot of work so if you’re thinking of selling it, you’re certainly not alone. But how do you price an inherited house? These tips will guide you on how to price your inherited home in Sacramento for sale.

Why not bypass all the work and cost of selling through an agent and instead get in touch with us today about selling your inherited property to us at Westbrook REI? Just call us at

(209)481-7780 or click here and enter your information in the form.

Peter Westbrook

Peter Westbrook is a local Cash Home Buyer / Real Estate Investor in Stockton, Sacramento and Modesto CA and Tulsa Oklahoma. He has written numerous real estate articles that have been published here and by other blog and news outlets. Peter has appeared on several local and national news reports regarding the state of the Stockton and Sacramento Real Estate Markets.

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