How to Sell Your House to an Investor in Philadelphia PA

How to Sell Your House to an Investor in Philadelphia PA

In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you could be frustrated.

Despite the market trends in Philadelphia slowly shifting, it’s still very much a buyer’s market. With so much property available, you could find yourself waiting months or longer to get a fair price on your home.

How To Sell Your House To An Investor in Philadelphia

One option that many homeowners are turning to is selling to a real estate investor like Philly Home Buyers, LLC to buy your house from you.

These independent investors typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. Philadelphia has numerous reputable and trusted real estate investors who will help you sell your home quickly.

Selling your house to an investor is relatively simple.

You provide him or her with information about your home and personal situation.

The investor will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 7 days if you want to close that fast.

How Fast Can You Sell Your House To A Philly Investor?

This process is extremely quick compared to more traditional methods, often taking just 7-10 days.

If you need to sell your Philadelphia home very quickly, with little hassle, selling to a Philadelphia real estate investor is a great option.

When you work with a real estate investor… there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.

While real estate investors are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another home owner.

The Hidden Costs Of Waiting To Sell Your Philadelphia House

Many people don’t consider the hidden costs of holding on to a property.

Extra months of mortgage payments, utilities, maintenance costs, and other fees could quickly add up. By selling at a slight discount, you could potentially end up with a larger sum in the long run.

By selling your home to a real estate investor, you’re saving yourself possible months of headache, and you can quickly move on to your new home. You’ll avoid expensive fees, closing costs, and investors will purchase your home as-is, assuming the costs of repairs that you’d have to pay if you were selling via more traditional means.

Fill out the form to get a fast cash offer on your home!

Give us a call anytime at (215-279-4315)

Philadelphia Rent Growth Slows Down

The Rent trend data in Philadelphia, Pennsylvania

Philadelphia Average Rent

As of October 2017, average rent for an apartment in Philadelphia, PA is $1580 which is a 15.38% decrease from last year when the average rent was $1823 , and a 0.44% decrease from last month when the average rent was $1587.

One bedroom apartments in Philadelphia rent for $1404 a month on average (a 17.95% decrease from last year) and two bedroom apartment rents average $1738 (a 21.35% decrease from last year).

Beds Rent
All beds 1,580
1 beds 1,404
2 beds 1,738

Philadelphia Average Rent By Neighborhood

Neighborhood Rent
Fairmount-Spring Garden 2,193
City Center West 2,109
Riverfront 2,073
City Center East 2,056
North Central 1,851
Poplar-Ludlow-Yorktowne 1,835
Wharton-Hawthorne-Bella Vista 1,823
Cobbs Creek 1,623
Fishtown 1,588
Schuylkill Southwest 1,557
South Philadelphia 1,532
Hartranft 1,524
Chestnut Hill 1,520
Kensington 1,464
Pennsport-Whitman-Queen 1,436
Wynnefield 1,410
Manayunk 1,395
Belmont 1,384
Roxborough 1,311
East Falls 1,305
Brewerytown 1,300
Point Breeze 1,261
Girard Estates 1,215
Alleghany West 1,208
Marconi Plaza-Packer Park 1,195
Holmesburry-Torresdale 1,160
Mount Airy 1,152
Eastwick 1,075
Torresdale 1,074
Richmond 1,022
Germantown 1,006
Academy Gardens 1,006
Summerdale 1,000
Strawberry Mansion 975
Bustleton 965
Morris Park 947
Somerton 944
Cedar Brook 924
Oxford Circle 917
Mayfield 912
Grays Ferry 899
Tioga-Nicetown 882
Byberry 880
Haddington-Carroll Park 877
Fox Chase 873
Rhawnhurst 859
Oak Lane 824
Wissanoning 798
Hunting Park 794
Logan-Fern Rock 794
Fairhill 789
Olney 767
Frankford 761

The most expensive Philadelphia neighborhoods to rent houses in are Fairmount-Spring Garden, City Center West, and Riverfront.

The least expensive Philadelphia neighborhoods to rent houses in are Frankford, Olney, and Fairhill.

When Is The Best Time to Sell Your Home in Philadelphia?

When Is The Best Time to Sell Your Home in Philadelphia?


When is the best time to reach the most prospective buyers in YOUR market? And when will it be the easiest on you? In our latest post, we will help you figure out when it’s the best time to sell your house!

The Best Time to Sell Your Home in Philadelphia

What the stats say:

Nationally, homes listed between May 1 and May 15 sold around nine days faster and for nearly 1% more than the average listing, according to

Saturday is the most popular day of the week, as that is when people have the time to look for a new home. And since listings often appear with the newest ones first, getting yours at the top of the list will help you to get more views.

Is there a particular time of year that is better? 

They always say people are buying in the spring and summer. School is over, relocating is easier and the weather is conducive for going house hunting. Statistics show more people are buying in the Summer, so you will likely have MORE buyers! Start with cleaning to stage your home, and get ready to list it sometime in Spring.

Of course, if you are selling a home you own that is located in a warmer climate, cold weather isn’t as much of a factor.

Are you ready to sell your Philadelphia house?

Ask yourself, “Am I financially ready to sell.” There are costs associated with selling your home such as repairs, clean-up, staging and making it look sharp. Do you need to move in a hurry? Or be able to get financing for a new home? If so, this can add pressure which will stress you out and sometimes make you sell.

Are you and your family emotionally ready? If the move isn’t necessary, make sure it’s really the best time to go. Are your kids almost out of school? Are you certain you want to leave your friends, job, and community? Make sure you are making the right choice before making such a big decision for your family.


Are you interested in selling your Philadelphia home? If so, we can help you sell your house fast! Send us a message now or give our team a call! We are ready to answer all your questions so you can sell your Philadelphia home fast! (215.650.7403)


Do I Have To Pay Inheritance Tax When I Sell My House In Philadelphia

As of 2016, only 8 states still charge inheritance tax. Even if you live in one of those states, some beneficiaries to an inheritance are exempt from paying it. Do you have to pay tax on an inherited property in Philadelphia? The following will help determine if you do.

What is inheritance tax?

Once the executor ( Person who has been appointed to manage the cash. Can be a family member or not) of the estate has divided the assets up and distributed them to the beneficiaries, the inheritance tax comes into play. The tax amount is calculated individually for each individual beneficiary, and the tax must be paid by the beneficiary. For example, a state may charge a 7 percent tax on all bequests larger than $2 million. Consequently, if your friend leaves you $5 million in his will, you just pay tax on $3 million, which is $210,000. The state would require you to report this information on an inheritance tax form.

The executor or administrator of an estate typically fills out the inheritance tax return forms on behalf of the beneficiaries. He or she only needs to complete one form, even if multiple people owe the inheritance tax. The tax form can be very complex; working with an experienced attorney will help you know for sure that the proper tax is paid.

After the form is completed, the executor usually pays the tax from the estate before the remaining amount is distributed to the beneficiaries. The executor or administrator has nine months from the date of death to pay the tax. Otherwise, a late penalty may be assessed.

The Difference Between Inheritance Tax & Estate Tax

The major difference between estate taxes and paying tax on an inheritance depends on who’s responsible for paying it. An estate tax is imposed on the value of property and a deceased person’s money and is paid out of the decedent’s assets before any distribution to beneficiaries.

Before an estate tax is due, the value of the assets must exceed certain thresholds that change yearly, but usually it’s at least $1 million. Because of this high threshold, Roughly only 2 percent of citizens will ever have to pay this tax.

how does inheritance tax work


States with an inheritance tax

The federal government does not collect inheritance tax. It IS ONLY AT THE STATE LEVEL – The eight states that collect inheritance tax are Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Tennessee. All state laws are subject to change at anytime, so always check with your state’s tax bureau. The tax rates   can be as low as 1 % or as high as 21% of the value of property and cash you are inheriting. Please check the chart for your state.


Inheritance and estate taxes are one of the most hindering taxes for economic growth and have been shown to suppress entrepreneurship, and have heavy compliance costs.


The Stepped-Up Basis Rules Change Those Who Inherit Property

Step up in basis is the readjustment upon inheritance of the worth of an appreciated asset for tax purposes, discovered to be the higher market value of the asset at the time of inheritance. When a house is passed on to a beneficiary, its worth is usually more than when the previous owner bought it. “Basis” means the asset’s price used for tax purposes. To ascertain whether you’ve a gain or less when you sell an advantage, its basis is subtracted by you from the sale cost. You’ve got a gain if you’ve got a positive number. You’ve got a loss, if you’ve got a negative number.

The basis of a dwelling you construct or purchase is its price, plus any improvements you make while you possess it.

Nevertheless, the tax basis of a home’s is established after the owner dies otherwise when someone inherits a house. This implies that the price for tax purposes of the home’s isn’t what the -deceased earlier owner paid for it. This will typically be more than the earlier owner’s basis.

The bottom line is that if you after sell it and inherit property, you pay capital gains tax based just on the worth of the property as of the date of death.

Example: Jean inherits a house from her dad John. He paid $100,000 for it over 20 years past. John made $20,000 in progress over the years, so his ‘s tax basis in his house just before died was $120,000. However, when the house is inherited by Jean its basis is stepped-up to its fair market value on the date of the departure of John. Jean has the house appraised and this value is set at $300,000. The house is sold by jeans for $310,000 a few months after she inherits is inherited by her. $300,000 is her tax-basis on the house. She subtracts this amount from the sales price to establish her gain that is taxable: Sold price of 310,000 – $300,000 = $10,000 gain.

If you sell an inherited dwelling for less than its stepped-up basis, you’ve got a capital loss that can be deducted (assuming you do not use the dwelling as your private residence).

However, there is a max of $3,000 of total losses can be deducted against your income every year. Any excess must be spread out and deducted on future tax years until the total amount is deducted.


Inheritance tax exemptions in Philadelphia, PA

Depending on your own relationship to the decedent, you may receive an exemption or decrease in the amount of inheritance tax you must pay. For example, Philadelphia, Pennsylvania exempt a partner from the tax when the property is inherited by them from their partner. ( Husband or Wife – Up to the First $30,000) 

The tax rate for Pennsylvania inheritances depends upon how close the familial connection is between the deceased person and the person receiving the inheritance. No inheritance tax will be owed if the beneficiary is:

  • A surviving spouse of the deceased
  • A parent of a deceased adult child
  • A charitable organization

There are also classes of people deemed to be close familial relations of the deceased; however, they do owe an inheritance tax. These individuals include children of the deceased and parents of a minor; they are considered “Class A heirs,” and they owe a 4.5% inheritance tax on the amount they receive.

“Class B heirs,” such as siblings of the deceased, owe a 12% tax rate. All other beneficiaries pay the collateral tax rate of 15 percent.

Rates for Inheritance Tax


The rate of tax imposed on transfers to or for a surviving spouse are based on the date of death of the decedent and taxed as follows:


Dates of Death Rate
Prior to July 1, 1994 6%
July 1, 1994 through December 31, 1994 3%
January 1, 1995 and after 0%


  • We are not Attorney’s and this is not to be accepted as legal advise, we always recommend seeking counsel from an experienced Attorney to assist with your inheritance. 

4 Step Probate Process

We meet with sellers every day that need to sell their property  and unfortunately; sometimes; they have acquired the property do to  the loss of a family member which can be a in stressful time in their lives.  We are always willing to help with the probate process and settle the estate. The process requires 4 steps and will require a for title search to identify all outstanding liens and judgments.

What is Probate Process?

Probate refers back to the course of whereby sure of decedent’s money owed could also be settled and authorized title to the decedent’s property held within the decedent’s identify alone and never in any other case distributed by legislation is transferred to heirs and beneficiaries. If a decedent had a will, and the decedent had property topic to probate, the probate course of begins when the executor, who’s nominated by the decedent within the final will, presents the desire for probate in a courthouse within the county the place the decedent lived, or owned property. If there isn’t any will, somebody should ask the court docket to nominate her or him as administrator of the decedent’s property. Usually, that is the partner or an grownup youngster of the decedent. As soon as appointed by the court docket, the executor or administrator turns into the authorized consultant of the property.

The 4 Fundamental Steps to Probate

1. File a petition and discover  heirs and beneficiaries.

As described above, the probate course of begins with the submitting of the petition with the probate court docket to both (1) admit the desire to probate and appoint the executor or (2) if there isn’t any will, appoint an administrator of the property. Typically, discover of the court docket listening to relating to the petition should be supplied to all the decedent’s heirs and beneficiaries. If an inheritor or beneficiary objects to the petition, they’ve the chance to take action in court docket. Additionally, typically, discover of the listening to is printed in a neighborhood newspaper. That is to try to inform others, comparable to unknown collectors of the decedent, of the start of the continuing.

2. Following appointment by the court docket, the private consultant should give discover to all identified collectors of the property and take a list of the property.

The private consultant then provides written discover to all collectors of the property based mostly upon state legislation; any creditor who needs to make a declare on property of the property should accomplish that inside a restricted time frame (which additionally varies by state).

A listing of all of decedent’s probate property, together with actual property, shares, bonds, enterprise pursuits, amongst different property, is taken. In some states, a court docket appointed appraiser values the property. When mandatory, an unbiased appraiser is employed by the property to appraise non-cash property.

3. All property and funeral bills, money owed and taxes should be paid from the property.

The private consultant should decide which creditor’s claims are respectable and pay these and different remaining payments from the property. In some cases, the private consultant is permitted to promote property property to fulfill the decedent’s obligations.

4. Authorized title in property is transferred in accordance with the desire or underneath the legal guidelines of intestacy (if the decedent didn’t have a will).

Following the ready interval to permit collectors to file claims in opposition to the property, and all permitted claims and payments are paid, typically, the private consultant petitions the court docket for the authority to switch the remaining property to beneficiaries as directed within the decedent’s final will and testomony or, if there isn’t any will, in accordance with state intestate succession legal guidelines. If the desire requires the creation of a belief for the advantage of a minor, partner or incapacitated member of the family, cash is then transferred to the trustee. Except the beneficiaries of the property waive the requirement as allowed underneath some state legal guidelines, the petition might embody an accounting of how the property have been managed in the course of the probate course of. As soon as the petition is granted, the private consultant might draw up new deeds for property, switch inventory, liquidate property and switch property to the suitable recipients.

Briefly, a correctly drafted will, up to date usually to account for all times adjustments, organized information of money owed, private property and different property simplifies the probate course of. The simpler it’s in your private consultant to hint your steps after you are gone, the better the method.