May 12, 2022

We bought this house as is and helped the heirs with succession

We buy a lot of inherited properties. These properties can tough to sell as there are often succession and title work that is required as well as clean up of the property. This can be a burden on the heirs, particularly if they live in different areas or aren’t all in agreement. We are used to these type of situations and can help guide you through the sales process. We also buy as is so are fine to buy the house with any unwanted belongings in it. Just like this inherited house we bought in New Orleans East. You can watch the video of our Founder Aussie Steve talking about the situation or you can read the transcript below.

See Transcript below…

Hey guys, Aussie Steve here from Home Buyer Louisiana. We buy houses in any condition in Louisiana.

I’m here at a property that we’re in the process of purchasing in Orleans Parish, New Orleans East. The owners reached out to us earlier. They actually had inherited the property. Unfortunately, their mother had passed away, so they’re looking to sell it. It’s not in the best shape. It was actually inherited by four siblings. And one of the siblings, unfortunately, passed away as well. So that meant that his children are rightfully entitled to the property. There’s a little issue with that because they weren’t really speaking to the kids, and they said they didn’t want to sell and instead offered to buy the property at a price much lower than we had offered. So, they basically thought they could sort of extort them into a lower price, which they actually can’t legally do.

If you own a property, you have the right to sell it. If they wanted to pay the same price, they obviously could have bought it, but to say, no, I won’t sell at this price, but I’ll buy it at a lower price. In such a case, you don’t have to accept that. You have the right to sell a property. You can file a petition of sale, and there’s a legal process you can follow. As an owner of a property, you have the right to sell it, and another owner can’t block you. There is a whole process to go through, obviously, but you can do that.

So luckily, we have really good title attorneys. We deal with this sort of stuff all the time, so we were able to connect them with our title attorney, who is doing the whole legal process. And that’s all going through now.

We haven’t closed on the property yet, but we should close on it next week. So, I’m just here checking it out because we’ve got plenty of rehab work to be done. And we need to be ready to roll as soon as we close. I’ll show you around the property.

They left some stuff behind in the property, and that’s one of the benefits of selling as is. It can be hard to get a property fully cleaned, and we don’t mind because we’re going to do a rehab anyway. So, we are okay with you leaving stuff behind, and it makes it much easier for the sellers, particularly when it’s inherited house you are selling involving different brothers and sisters. So, they came and took the things they thought were valuable or sentimental and left the rest.

You can see the house did get some damage from hurricane Ida. So obviously it was not ready to be sold to a homeowner. Definitely needs an investor like us to come and fix it up first. Water came through, and it’s moist. It’s got some termite damage, and some storm damage as well. So, it needs a bunch of work and that’s okay.

The property has three-bedroom and one-bathroom. But we’re going to turn it into a four-bedroom, two-bathroom property because that’s going to be more desirable.

We’re actually going to keep this property. We won’t be flipping it, rather we’re going to turn it into a rental property. So, it will be a nice four-bedroom, two-bathroom rental.

You see, it’s not ready for a homeowner. You can see up here, there’s a bit of termite damage. We’re going to have to replace some of this. There’s some mold here as well. So, this house just needs work before it’s ready to be sold.

Obviously, these are things you can do yourself. And if you’re in a position to do that, then you probably should. If you can spend the money, time, and effort to fix it up then sell it to a homeowner, you should because you’re going to get more money for your property that way. But oftentimes, people don’t necessarily want to do it. I mean, it takes a lot of effort and a lot of money to fix these things up. And if you don’t do it very often, it can be quite expensive. For someone like us, we do this all the time. This is what we do. So, it’s not a big deal to come and fix this up. So, it doesn’t cost us as much.

So, while you won’t get as much as if you sold it to a homeowner, you’re still going to get a pretty good deal because it’s not as expensive for us to fix it up. We can pay a pretty good price for an as is property like this. So, you really trade that benefit of not having to go through the stress. You don’t have to clean it out. We’re going to do all that.

That’s what we are doing here, and they still got a price they’re happy with. We buy in cash. So there’s no bank financing, none of these hoops to jump through. We buy it, come in, do our thing, and turn it into a nice rental for someone in the area.

We’re happy to get the property. And the sellers are really happy to have sold in this condition. They’re also happy for the extra help in terms of the succession, and the inheritance issues they had. We are used to all sorts of properties, and all sorts of situations. So, we generally can solve a problem. Also, we have a really good network. We have great title attorneys we work with and all sorts of people around this industry.

So, if you think you’ve got a property that you can’t sell because of some issue with the title or whatever, reach out to us and let’s have a chat. There may be a solution. We probably can point you in a few right directions. We might be a cash buyer or we might just help you tell you where to go. So reach out to us.

You can go to our website homebuyerlouisiana.com. We’ve got lots of information there as well.

Thanks so much guys. Have a great day.

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