If you’ve inherited a property and you’re planning to sell it, make sure you read this blog post for 3 tips about how to price your inherited home in Nashville for sale…
Did you inherit a property that you’re now thinking about selling? While an inherited property can be a wonderful gift from a loved one who has passed on, it can oftentime be a costly burden. So selling it makes sense and allows you to use the gifted equity for some other purpose. But selling an inherited property may not come easy to you, especially if you haven’t sold a property in a while. So here’s how to price your inherited home in Nashville for sale:
Tip #1: Price Competitively to Sell Quickly
It is tempting to set your asking price based on what you hope the market will pay. However, one of the biggest factors to consider is how fast you want to sell.
- Selling a home the traditional way through a real estate agent can take months.
- During that time, you are still responsible for mortgage payments (if any), property taxes, utilities, insurance, and maintenance.
- These “holding costs” can quickly add up and eat into the profit from a higher sale price.
Many sellers discover that pricing their inherited home slightly lower can actually save them money in the long run. By selling quickly, they avoid ongoing expenses, costly repairs, and the stress of waiting for the right buyer.
Tip #2: Avoid Pricing Based on Memories or Emotion
One of the biggest mistakes people make when selling an inherited property is allowing personal attachment to influence the asking price.
You may have fond memories of holidays, family gatherings, or milestones that took place in the home. While these memories are priceless, they do not add to the fair market value of the property. Inflating your asking price because of sentimental value can delay the sale and ultimately cost you more.
A smarter approach is to:
- Request a professional market analysis
- Compare similar properties in Nashville that recently sold
- Get an offer from a reputable home-buying company like Middle TN Home Alliance
This gives you a clear picture of the property’s true value, separate from emotion.
Tip #3: Build in Discounts for Repairs
Many inherited homes are older properties that have not been updated in years. They may need costly repairs such as:
- Roof replacement
- HVAC upgrades
- Electrical or plumbing work
- Cosmetic updates like flooring, paint, or landscaping
You have two options:
- Spend time and money fixing the property before listing it, or
- Adjust your asking price to account for repairs and sell the house “as-is.”
Often, sellers find that offering a discount for repairs is the best choice. It avoids the hassle of coordinating contractors and ensures you can sell faster without draining your wallet.
Summary
Pricing an inherited property in Nashville can be challenging, but with the right strategy, you can sell quickly and fairly without unnecessary stress.
By:
- Pricing competitively,
- Setting emotions aside, and
- Factoring in repair costs,
You can create a realistic asking price that attracts buyers while still leaving you with the equity your loved one intended for you to have.
Sell Your Inherited House in Nashville Without the Stress
If you would prefer to skip the time, money, and hassle of listing your inherited home on the market, Middle TN Home Alliance can help.
- We buy inherited houses in Nashville in as-is condition.
- We pay cash and can close in just a few days or weeks.
- There are no realtor commissions, no repairs, and no hidden fees.
📞 Call Middle TN Home Alliance today at (270) 226-9000 or fill out the form on our website to request a no-obligation cash offer for your inherited property.
FAQs About Pricing and Selling an Inherited Home in Nashville
1. How do I know what my inherited house is worth in Nashville?
The best way is to request a comparative market analysis from a real estate professional or get a direct cash offer from a home-buying company like Middle TN Home Alliance.
2. Should I fix up my inherited house before selling it?
Not always. Many sellers prefer to sell the property as-is and let the buyer handle repairs. This avoids delays, costs, and stress.
3. Can I sell an inherited house without going through probate?
In many cases, probate is required before the property can be legally sold. The rules vary by state, so it is best to check with an attorney familiar with Nashville probate laws.
4. What is the fastest way to sell an inherited house in Nashville?
A direct cash sale to Middle TN Home Alliance is typically the fastest method. This allows you to close quickly without waiting months for a buyer or making costly updates.
5. Do I have to pay taxes when selling an inherited property?
In most cases, heirs pay capital gains tax only on the difference between the sale price and the property’s market value at the time of inheritance. Consult a tax advisor to understand your specific situation.