 Whether you are a first-time homeowner or someone who inherited a home, it’s not easy to sell a house. So we’ve got some advice if you’re trying to sell a home that was inherited from a loved one.
We know that there’s always an emotional side to selling a loved one’s home. Clearing out personal items can bring back fond and sad memories. Family members are left with the high cost of various problems. As a result, disagreements could come up. Our company, MarKey Property, has a few guidelines that we recommend following for a smooth transition. An Easy Probate Process 1. Seek advice from a professional It’s important to know the condition of your house. Ownership needs verification. Get in touch with a real estate attorney and other experts related to this field for professional advice. 2. Start the probate process Prior to selling, your house needs to go through a probate process. In most countries, a summary probate will suffice - this is a short process and it does not require as much legal process. If you live in Lancaster, PA, after your home passes the probate process in Lancaster, it can be marketed to the public. 3. Property tax Your property will be taxed based on the house value, starting on the date that the person who willed it to you died. The difference between the amount you earn from the transaction and the value is essentially the gain that you owe in taxes. Selling an Inherited House 1. The Agreement If you are planning to sell your house, let us know at MarKey Property and we’ll petition the court to give the “green light” in order to go through with the sale. Sibling disagreements will probably come up - for example wanting to sell or keep the house. You should include the estate lawyer in this decision. 2. Sale Preparation Prior to putting the house on the market, repairs and upgrades may need to be made if items are disheveled and outdated. Everything must go. An inspector can be hired to examine the home for potential problems and recommend repairs, if necessary. In Lancaster, a home can be sold “as is”, but you will probably have to settle for a reduced price - notably if there are a lot of repairs or cleaning that needs to be done. MarKey Property guarantees a fair deal and will work to gain as much value from your inherited house as possible. Contact us for a consultation.
0 Comments
 Putting a house on the market to sell during a divorce can be challenging. We’ll give you some advice on how to easily sell your house in Lancaster County, Pennsylvania.
It can be painful to work out affairs and assets during a divorce. Arguments and disagreements will arise. Decisions that need to be made on large finances can exacerbate a situation that is already strained. Most people who are in the process of getting divorced want to sell their properties as soon as possible so that they can quickly and smoothly split up their real estate interests and live their own separate lives. Here are some tips. List a Selling Price If you accept a lower price for the property, you may be able to sell the home faster. You and your former spouse will have to settle on a reasonable price. If the house is listed on MLS (multiple listing service) in Lancaster, do not list the property too high. This will make it harder to find a buyer, and you’ll have to manage the process of selling it for an extensive period. If you price it at the right rate from the start, you can sell it quickly. Even though you will still need to wait for the escrow process which can last 30-60 days, it won’t be too much trouble to find a buyer. Entrust the Responsibility to a Professional Everyone’s situation will be different. There may already be too many disagreements and arguments between the former spouses. Don’t add to that stress by failing to map out a plan about who will be responsible for the different duties that need to be done to sell the house. Each person needs to know what they are in charge of so that fewer arguments arise. Discuss who will be handling the cleaning, repairs, and questions from the buyer. Working as a team is crucial so that a sale can be made. Hiring professional cleaners, electricians, etc. can prove to help speed up the process. An acrimonious couple might fail to remember to tell each other things that are important to selling the house. Restrain your emotions During a divorce, being forced to do anything with your soon-to-be-ex can fill you with all sorts of emotions. Divorce is a difficult process on its own. Leaving your spouse and home can make you think and do some very foolish things. Instead, focus on your future. These feelings can interrupt and prolong the selling process. Your lawyer or mediator can help during the sale of your home. Find a Buyer who will Purchase Directly from You If you have a house in South Central PA or South Eastern PA and want to sell it quickly, contact buyers at MarKey Property today.  Foreclosure may occur due to a homeowner’s financial problems.
The process of foreclosure happens when the mortgage loan does not receive money in return and the bank starts to adopt control over the property to regain what it lost. If you are a Lancaster County homeowner who is starting the process of foreclosure, here are some ways to prevent the foreclosure from going through. 5 Tips to Avoid Foreclosure in Lancaster, PA Please be aware that these suggestions may not be applicable for everyone’s circumstances, but these are some possible scenarios that you might encounter: 1 . Your mortgage must be paid off or your property needs to be sold. The fastest and simplest process to stop foreclosure from occurring is to pay off your mortgage. This is the requirement from banks. They want you to remain at your residence so that they can receive their money in return. This is not an option for everyone. 2. Short sales are encouraged. A short sale is a process of selling property and spending the money you make for a down payment or to pay off the outstanding amount with the bank. This can prevent a foreclosure from influencing your credit score and the bank should back off. 3. Arrange a negotiation with your bank. In some instances, you and your bank can settle on a deal. It requires a meeting with a mortgage or foreclosure specialist to discuss changes to your mortgage. For instance, your payments might become lower every month by spreading them out. Determine whether the arrangement will be helpful for your situation. 4. Instead of foreclosing, hand over your deed. Giving the bank the deed to your house may stop the foreclosure of your house. Normally, this only works if your house is worth about the same amount that is owed on the mortgage. If it’s not, the bank might go after the difference. 5. Filing for bankruptcy. Bankruptcy can affect your entire life. But after you file for bankruptcy, the process of foreclosure ends so this is still a way to avoid foreclosure. If you are uncertain of which option to choose from, think about whether you are able to pay off your mortgage and if you want to continue residing in the house. In this case, option number 2 (Arranging a negotiation with your bank ) is probably the best choice. If you are looking to avoid foreclosure on your home by selling it, contact us at MarKey Property to make an offer.  Have there been dramatic changes to your life since purchasing your home? It can feel frustrating and stressful to pay a mortgage on a house that you no longer want. We’re recommending rules to follow so that you can have a smooth transition to get out of your mortgage in Lancaster.
Paying a mortgage every month gets pricey. This especially rings true if you’ve outgrown the house and need something that will better accommodate you. Here are 5 rules that will help you cancel your mortgage as soon as possible, without paying high fees or penalties. Sell Quickly In Lancaster, a simple and convenient method to get out of your mortgage is by directly selling your home to the buyer. We purchase homes straight from homeowners in this area and can close in just days. Houses that are quickly sold in Lancaster will help you save a lot of money on holding costs which include continued utilities, homeowners insurance premiums, property maintenance, taxes, and more. Traditional listings can be successful, but the prolonged process can end up costing you more in the long run. If you are trying to sell immediately, a direct sale with us will save time and money. Selecting an Agent Most people may opt into hiring a real estate agent when they decide to sell their home. Even though an agent is useful in some transactions, there are extra costly fees that add no value to your sale. You can hire a real estate agent if you are willing to pay agent commissions, do your own repairs (or pay for them yourself), or wait for a buyer. If you are in Lancaster and need to get out of your mortgage immediately, it might be worth it to sell your house directly to a buyer. Working with our team will help you cancel the mortgage for an unwanted house in Lancaster, minus the cost or inconvenience. Renting to Tenants Even though you will still be required to pay the mortgage every month, the tenants who rent your home will be paying it off for you. Having good tenants can help you pay off the mortgage, and possibly collect passive income. Be mindful that not every property is appropriate for renting out to people, and it’s not always easy to be a landlord. But, if you can find the right property management company, you should be able to get good tenants, rent your property to them, and have someone else pay your mortgage. Re-Gift Your Mortgage You don’t need to give away the property but it can be given to someone, and then they can take over the mortgage. Perhaps you have children or another family member who wants the house. If it’s possible, they can either assume the mortgage, or you can sell it to them for the amount that you owe. You must make sure that your debt gets paid off, and you don’t receive any additional penalties or fees. You will reap the benefits by severing your affiliation with the house, and the person who you sell it to will get an amazing deal by taking the property off your hands. Everyone involved will gain something from this transaction. Applying Rent-to-Own Selling your house through a rent-to-own method is useful to anyone who wants to sell for market value and is able to wait for an extensive period of time before the house is sold and they collect the full sale price. A rent-to-own agreement will raise the pool of potential buyers and give you higher odds of a quick sale at an exceptional price. You will not immediately see the total sale price, but you will be able to collect higher than average rent, a deposit, and guaranteed income for the next 1-2 years. When the rental term is up, your tenant can choose whether they want to purchase the house. If they cannot purchase it, the house stays in your name and you can sell it or rent it out to someone else. If you are trying to get out of your mortgage in Lancaster County, contact one of our representatives at MarKey Property.  When it comes to homeownership, overseeing code violations may be one of the most annoying parts of it. When trying to sell a home, code violations can easily thwart your mission and become costly to repair. Most homeowners are confused about the violation itself and therefore are not prepared to manage the situation in a swift and professional manner. You may not know who to get in touch with or how to get the violations lifted. Here are some of our guidelines to regulate code violations in Lancaster City.
Understand Each Individual Department of the City In most cases, if you have a code violation it was probably the result of not passing an inspection or due to an incident that caused the city to issue the violation. Lancaster City has three departments that make up the code enforcement: The Property Maintenance Group, The Health Unit, and the Building Code Unit. The property maintenance group enforces the outer appearance of properties in the city as well as the latest restrictions on lead paint poisoning and other hazards. The health unit generally inspects commercial spaces to regulate health standards but also manages the pest control program. The Uniform Building Standard codes help regulate compliances and provide permits for renovations. The majority of residential problems that come up include property maintenance groups related to the preservation of the building code unit for work without a permit. Collaborate with the City to Find a Solution In order to quickly and easily sell a home with code violations, work with the city to iron out any unresolved violations in the house. If there are violations that are visible, they can be fixed by simply cleaning the home’s exterior. Clear out weeds and other unsightly vegetation, remove trash, and clean the property to attract potential buyers while taking care of past issues. It’s important to review each violation and tackle the core of the problem. Code violations are complicated. Extensive work might be needed to reach property standards. It’s helpful to work alongside inspectors to find a solution to potential issues. Violations should be thoroughly reviewed, and the inspectors should be asked what changes need to be made in order to get the violation lifted. Keep a pen and paper, or the “Notes” app through your phone, on hand so that you can record what they say. Bring a licensed city contractor so that you can ask them questions while reviewing the violation. Be aware that there may be terms that you won’t understand when the inspector and the contractor talk to each other. At the end of the meeting, make sure the inspector provides a written and signed document that outlines the problems with the property. Make an appointment for a follow-up inspection with the city after the work is completed. Petition the City to Repeal Violations After resolving the violations, appeal to the city and ask to lift the violations. An inspector will be reappointed to look at the house for any issues. Have a copy of your initial walkthrough notes in the event that they may add other items to the violation. It’s common for different inspectors to notice other items during their second walk-through. If the work is completed down to the details, code violations should be lifted immediately or shortly after the inspection is complete. Official documentation will be issued to your address at a later date. Typical Code Violations
Pricing a Home for Quick Sale In order to try and sell a home that has code violations to a traditional buyer in Lancaster, you must significantly lower the asking price. Overall, buyers are in search of hassle-free homes that have been labeled as “move-in ready”. If there are serious issues with the property, most lenders will not support a loan for the property, so you may need to exclusively accept cash offers. Problems related to electrical, plumbing, septic, and zoning can be primary dilemmas and red flags with lenders. Before listing a property or if you are starting the process of selling it on your own, discover what we can offer you at MarKey Property.  One of the most important transactions that we’ll make in our lifetime is purchasing and selling property. It’s not a common type of transaction, so most of us don’t have the experience or know of anyone who has this experience when it comes to making serious decisions that include large monetary transactions.
Mistakes that come with selling a home can get expensive, and they are bound to happen. Here are 4 common mistakes that people make when they sell their homes. 1. Inspecting Your Home Most sellers believe that their home will easily pass an inspection from the buyer. Unless you have a new home to sell, it’s strongly recommended that you get a pre-inspection. This will rule out anything that may catch you off guard, like high levels of radon - a very common problem in Pennsylvania. A pre-inspection helps you keep the buyer interested. If they find out that there will be too many expensive repairs that can take a long time to fix, you might lose them. This will make you lose more time and money. At MarKey Property, no pre-inspection or final inspection is necessary. We will purchase your home as-is. 2. Selling at the Wrong Price It can be a complex matter when selecting the appropriate price to list your home. Some challenging factors to consider are interest rates and the marketing climate in real estate. If you miscalculate and sell the house for too much money, it could overstay their time on the market. This can lead to extra bills and possible foreclosure. If the price is set too low, you won’t make as much as other homes that are similar to yours. It’s different for each homeowner and house, so to help you make an informed decision for your situation, work with a professional buyer at MarKey Property. We will inform you on how much you will profit from by discussing your selling options. 3. Be Prepared Inexperienced home sellers tend to make the mistake of being underprepared or over-prepared in all the wrong places. You may try to save time and money by not making cosmetic changes like using a fresh coat of paint on the walls or putting new carpet in. These are details that help sell a house. Then there’s the other spectrum where sellers spend too much of their budget by paying for expensive remodeling projects. They usually do not get a good return on their investment. With our company, there is no need for prep work or clean-up. We will have an offer on your home and provide the labor. 4. Don’t Lead with Your Emotions Homeowners can feel like their home is very valuable. In some cases, there is a lifetime of memories in it. For buyers, that value does not transfer over to them. In turn, the seller may feel upset by any offers that are “too low” by their standards. It’s important to detach sentimental values that are felt from the home’s genuine value through the market. At MarKey Property, we will give you an honest market-based offer. We’ll help you compare other selling options and give you the time and space to determine the right path for you. Get in touch with us today at MarKey Property!  If you’ve accumulated years and years of possessions in your home, it may feel like an overwhelming environment. Selling your home, and the thought of having to put your property on the market can be just as overwhelming. If you or someone that you know is a Lancaster County homeowner, we’ve got some tips on selling that hoarder house.
Clean up and Organize Seeing all of your belongings stacked up in your closet, cupboards, and rooms can feel daunting. You may have trouble figuring out what to sort first. You can start with a category by placing together items that are alike. As you go through the items, you can choose which things you want to keep, which things you want to give away, and which things can be tossed in the trash. You can also do the same thing by going through each room in the house, and select which items should be taken to your new home. It’s not just the home organization that needs to be done, but you also need a clear plan on how to organize in order to optimize your time. Take A Moment of Your Time Most items will need to be tossed out. You probably have many items in your home that hold sentimental value, so it’s important to be prepared to get rid of things that may have an important memory attached to them. Remember that the usable items will be donated to people who need them. If you have several sentimental items stored in your home, take a digital photo of it and store it on your computer. It won’t take up physical space in your new home. If you want to print out some of those pictures, photo albums take up less space than boxes of old trophies, trinkets, or unwearable clothing. Replace your books with an audiobook or get them in a digital format so you can read them on your computer or tablet. Use some of the cleaning and organizing strategies from Marie Kondo to wipe out excess clutter. If you’re having trouble getting rid of some things, you may want to take a more extreme approach and become your harshest critic. Ask yourself: “Do I really need these things?” “Does it spark joy?” If you want to cut out the middle person, you’re going to need to make an effort. Highlight the Best Features If you list a hoarder house that’s been cleaned, show before and after photos. Use your imagination. Nobody wants to see accumulated piles of your possessions, but showing how clean and tidy it became can let buyers see the potential of the home. Emphasize the large windows, spacious yard, any new appliances, or special features in the home. Buyers establish most of their purchasing decisions on their initial impressions of the property. If you are putting a hoarder house on the market, you need to make a memorable impression! Focusing on the positive features of the house can make the less desirable elements blend in with the background. You still need to disclose every potential issue with the house to customers who are viewing it. Neglecting to do so can be considered fraud. Don’t Try to Hide Anything! Market the House As it is. The quickest, simplest, and least stressful way to sell a hoarder house around Lancaster is to sell it to an honest, professional, and experienced homebuyer. That’s where we come in. If you have an unwanted hoarder house, we will sell your house no matter what shape it's in. If you, or someone that you know, need to sell a Lancaster County hoarder house, contact us before investing in an agent. Our team at MarKey Property will make the process quick and convenient without additional costs. |
AuthorMarKey Staff ArchivesCategories |
RSS Feed
MarKey Property LLC 590 Centerville Rd. #303 Lancaster PA 17601 717-925-7345
Copyright © 2022
Copyright © 2022