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3 Ways You Can Sell Your Inherited Home

Find Out Everything you need to Know To Avoid It.

November 24th, 2021

We’re all aware of how difficult and time consuming this process may be. You may want to sell your inherited home after the passing of your loved one. However, selling your inherited home isn’t always as straightforward as you might think. That is why we are creating a list of 3 Ways you can sell your inherited home, including one in which you can avoid probate.

Before we go into the weeds, there are some important things you need to know about the process and what options you may have.

One important part of selling your inherited house is Probate. It is the legal process where a deceased person’s estate is settled. It can be time consuming and expensive.

The very first thing you should make sure is if there is a will in place. If there is a will in place, most likely all the information and proceedings will be already there.

If the person had a will

A valid will governs a person’s assets following their death. In this case, the executor named in the will is responsible for carrying out its instructions. In this situation, the property would be distributed according to what was stated in their will. If there’s a will in place, the process may be shorter and less costly than if there isn’t one. Probate is only required if there is no valid will.

Even if you are named in a valid will, there are some things you need to be aware of. These include:

– How much inheritance do I get? All this depends on what was stated in the will. Some wills may give more than half, while others could name you as the sole heir;

– Do I have to pay all the taxes before receiving my money? Any remaining taxes would need to be paid by yourself

If there isn’t a will

If there is no valid will, then it falls upon family members or heirs to initiate Probate proceedings. In this situation, the process is going to be longer and more costly due to the fact that there is no will. In order to initiate probate proceedings, you will need to file a petition with the county clerk.

3 Ways You Can Sell Your Inherited Home

1 – Sell your inherited house through Probate

The first way to sell your inherited property is through probate. One advantage of using Probate to sell your inherited home is that it allows unlimited access to estate assets and final accounts in order for them to be settled. The disadvantage would be the potential uncertainty and expenses involved in this process.

The Probate process is public, which means anyone can access the information. It also has a fee that needs to be paid by the person who inherits or sells the property

Probate can take a log time to complete. It can take more than a year to complete. The time it takes for your property to sell will also depend on how long the probate process takes, and if there are any complications along the way. Most people try to avoid Probate for this reason, exploring some other options available to them.

2 – Sell your inherited house avoiding Probate

There is one little know way to avoid Probate and sell your inherited house by doing an Affidavit of Heirship. The process is relatively simple and inexpensive. Most importantly, there is no need to file anything in court or open up the estate for everyone to see what’s inside. This process vary from State to State and is very important that you consult an attorney or professional who is very familiar with this process in the state where the house is located.

There is still paperwork that need to be done but it’s less than what you would have to go through if the house is sold via Probate. Same happens with the timeframe, you can sell your house in a very short period of time.

The primary parties to the affidavit are the heirs themselves, it may also include information about heirs of the decedent who have passed away and who their heirs were. The affidavit must be signed by witnesses under oath before a notary public. The laws regarding who may attest to the affidavit vary from state to state. In most states, the witnesses must be one or more disinterested parties – that is, the witnesses must not be heirs or family members of the deceased.

3 – Sell Directly to an Investor

The third way to sell your inherited house is selling directly to a real estate investor. This is the quickest, most efficient and often times least expensive option for you to take advantage of. An investor may pay cash for your home or give you a note with terms that are agreeable to you.

When you sell directly to an investor like us, we will handle all the process and get every option you could have available to sell your inherited property and best of all you can get more for your property.

When you sell to us you don’t have to pay any fees, commissions or closing cost, process is smoother and you don’t have to wait months for the right buyer.

We are here to help you with any questions or concerns, you can contact us at anytime to see how we can work together on making your experience simple.

If you are ready to sell your inherited property, give us a call today!

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Go To House Buyer does not provide legal, tax, or investment advice. This material is for informational purposes only. It should not be considered as investment advice and may not be used as a basis for any financial decisions. Please seek advice from a professional in these areas before making a decision.