If you’ve inherited a property and are planning to sell it, you may have more options than you think. Read this article to learn about the 3 options for selling your inherited property in Montreal…
When a loved one dies and leaves you their home, it’s often a significant gesture. But the truth is,
, succession isn’t always easy. Bills, expenses and maintenance have to be paid; looking after a house is time-consuming and often a major source of stress.
If you’re thinking of selling, you’ll probably want to enlist the help of a real estate agent. However, you may be surprised to learn that you have other options that may suit you better. Did you know that there are 3 options for selling your inherited property in Montreal?
But first, selling with an agent…
There’s nothing wrong with selling through a real estate agent, but you should be aware that an agent may ask you to renovate your property. Then there are the massive sales fees and commissions to pay. What’s more, this method can take months, which some people find rather cumbersome.
So what are the other options?
Options
Option #1. Refinancing
The first option, which is a kind of sale, is to have the bank refinance the property and use the money for other projects. While this does not release you from the property (you still own it), it is an option to consider if you wish to sell for cash.
You’ll still be able to use the house or rent it out, but you’ll eventually have to pay off the mortgage.
Option #2. Leasing with purchase option
The second option is to sell your home on a long-term basis to a tenant. This will probably be a tenant who is not eligible for a mortgage, but who would like to become a homeowner. He’ll pay you the rent and, after a while, he’ll be able to buy the house from you – either by paying an additional amount each month (set aside for the purchase of the property), or by waiting until his credit rating improves and he can take out a mortgage.
Option #3. Quick sale with a cash offer
The last option, little known to successors, is to sell the house quickly 
thanks to a cash offer. Rather than selling through an agent (and hoping they find you a buyer, which can take months), you can deal with a company that buys properties (that’s what we do at Vendre Maison Vite). Your home will be purchased as is, in as little as a few days. It’s quick, easy and hassle-free.
There you go! Now you know the 3 options for selling your inherited property in Montreal!
