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 Maine for sale…
So you just inherited a house in Maine – now what? Look, inheriting property sounds amazing until you realize you’re suddenly responsible for taxes, maintenance, and a whole lot of decisions.
Don’t get me wrong, it’s an incredible gift from someone you loved. But let’s be real: sometimes the best way to honor that gift is to sell the property and put that money toward something that actually fits into your life right now.
If you haven’t sold a house in Maine recently (or ever), figuring out the right price can feel totally overwhelming. The good news? Pricing an inherited home in Maine doesn’t have to be complicated. Here’s exactly how to figure out what your inherited property is worth and get it sold fast:
Don’t Just Guess Your Inherited Home’s Value in Maine – Ask Yourself This First
Most people try to price their inherited house in Maine based on what they think it’s worth. But here’s what nobody tells you: the “right” price really depends on one huge question – how quickly do you need this thing sold?
If you list your inherited property with a real estate agent in Maine, you could be waiting three, four, even six months for a buyer. And guess what? You’re paying the mortgage, property taxes, insurance, utilities, and upkeep every single month while you wait. Those carrying costs add up fast and can seriously eat into whatever profit you were hoping for.
The Smart Move: Price Lower, Sell Faster, Keep More Money in Your Pocket
Here’s what savvy homeowners in Maine are figuring out: pricing your inherited home slightly lower for a quick sale often makes way more sense financially. Sure, you might get a bit less on paper. But you’re also dodging months of expenses, repairs, lawn care, and the massive headache of keeping up an empty house. When you do the actual math, that “lower” price often puts more cash in your hand at the end of the day. It’s basically a wash – except you’re done dealing with it months sooner.
Tip #2: Avoid Pricing Based On Fond Memories Or Emotion
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 Maine 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 here at We Buy Houses in Maine? Just call us at (207) 387-3811 or click here and enter your information in the form.