Case Study - Inherited Property
Out-of-state heir sells 3BR/2BA home needing major repairs - closed in 12 days for $215,000.
Maria inherited a 3-bedroom, 2-bathroom home in Orlando after her mother passed away. The property had been in the family for over 25 years and carried significant emotional weight. Maria lived in New York and had no plans to relocate to Florida. Probate had been completed, and the title was clear in her name.
The home was a 1,600 square foot single-family residence built in 1988. While it had good bones, years of deferred maintenance had taken a toll. The roof was original and past its useful life. The HVAC system was failing. The kitchen and bathrooms had not been updated since the early 1990s. A plumber estimated the polybutylene pipes needed full replacement.
Maria got three contractor bids for repairs. The estimates ranged from $30,000 to $42,000 - with $35,000 being the average. Managing a renovation from 1,000 miles away was not realistic. She would need to hire a general contractor, coordinate inspections, and handle permitting - all remotely.
She listed the property with a local agent for $265,000. After 45 days, she had two showings and zero offers. Buyers were scared off by the scope of work. The agent recommended dropping the price by $30,000 and offering a repair credit. Maria did the math and realized that route would net her less than a cash offer after commissions, holding costs, and concessions.
She was also paying $1,800 per month in carrying costs - mortgage, insurance, HOA, and utilities - on a vacant home she could not monitor.
We scheduled a walkthrough within 48 hours of Maria's call. Our team inspected the property, documented the condition, and ran comparable sales analysis for the neighborhood. We presented Maria with a written cash offer of $215,000 within 24 hours of the walkthrough.
The offer was based on the after-repair value of $285,000, minus estimated renovation costs and our margin. We explained every line item so Maria could see exactly how we arrived at the number. No hidden fees, no surprises.
Maria accepted the offer. We used a reputable local title company and handled all paperwork. Because probate was already complete, there were no title complications. Maria signed documents remotely via mobile notary in New York.
Maria netted significantly more than she would have through a traditional sale after accounting for the price reduction, repair credits, agent commissions, and months of carrying costs. More importantly, she was able to close the chapter and move forward without the stress of managing a remote renovation.
"I was dreading dealing with the house from New York. OneCashOffer made it simple. I signed everything remotely, got my check in under two weeks, and never had to fly down." - Maria