Step-By-Step Guide To Selling An Inherited House
Have you recently inherited a house from a relative or loved one? Do you not have a need for it, or do you simply not want to deal with it? Has it become a money pit of a fixer-upper? If that’s the case, our team at Bill Buys Houses can help you sell your inherited house fast for cash.
Our process is far quicker than the traditional realty method, and we know you will be satisfied with our personalized, thorough services. At Bill Buys Houses, our licensed and certified real estate agents can ensure your transaction goes smoothly and without issue.
Here, our licensed team of agents will discuss how to sell an inherited home and what that process looks like.
How to Sell Your Inherited Home
If you’ve recently inherited a house you have no use for, the chances are that you probably think it will be a hassle to get the property in good enough shape to sell it for a profit. You can, in fact, sell a home as-is. Before you can sell, however, there are legal steps you need to take to ensure that the transaction goes smoothly and you have no issues when finishing the process.
Before you can sell the inherited house, you must first take care of the following.
Get the Title to the Home
One of the first things you need to do is get the title of the inherited home. The home is not fully yours until the title is in your hands. There are several common steps you may have to take, including going through the probate process.
There are also a few factors to be aware of, such as transfer-on-death deeds, jointly-owned property, and single-owner property. Make sure you understand the whole process before diving in.
Get a Property Value Estimate
Some tips for selling an inherited property include getting an online property value estimate. You need to know how much it is worth, and you can do this through a website like Zillow. By looking up the property’s address, you can get a general idea of what the house might be worth now based on the current market. You’ll also need to know if there is a current mortgage on the home, which needs to be paid monthly or paid off with the sale of the house.
While getting an estimate, you should also consider what other factors might go into selling the home, such as unpaid bills. There could be back property taxes or contractor liens on the house that need to be paid off.
Determine If You Can Sell It
When you inherit a house, there are several legal steps you have to adhere to to ensure you can legally sell the house. If you were left a home in a will from someone you were close to, before you can start the selling process, you have to double-check that in the will, your loved one did not specify that the house had to be sold through a specific real estate agency or a specific person. Though they may have left you the house, they may have different instructions in place if you choose to sell the property they left you.
Before you begin making plans about the future of your inherited property, you need to read through the fine print and consult with a legal expert to determine if you are following the wishes of the person who left you the house.
Go Through Probate
If the person who left you the property has died, you must go through the probate process. The probate process is the legal way to ensure the person who has passed away no longer has any debts and their assets are distributed according to their wishes.
Essentially, each state has different regulations regarding probate, but they all follow the same general idea. To start, whoever has the will must file it with the courts as soon as possible. Once the will passes through the probate courts, an executor will be set by the judge who authenticated the will in the initial step.
The will’s executor is then put in charge of paying off any debts using the person’s estate before giving the remaining estate materials to those specified in the will.
This process can go smoothly as long as you use a good probate attorney. Do your research before hiring someone to help you. Make sure they have experience in the probate legal procedure of your state. If you are unable to present yourself due to living in another state or traveling, make sure you send a trusted personal representative to act in your stead.
Consult With Bill Buys Houses
Once the will of the person who gave you the house has gone through the probate process, you can begin the selling process. If the house is not in good condition or you simply don’t want to deal with the traditional real estate process, contact Bill Buys Houses today.
At Bill Buys Houses, we will schedule a consultation with you to evaluate the home left to you. We will come to your property to walk through and see what we’re working with. During this walkthrough, we will look for any damages the house has, things that need improvement, and several other factors.
Additionally, if we believe you can get a better deal using a traditional realty service, we will tell you upfront and help you start that process.
Is Bill Buys Houses Right For You?
Inheriting a home can come with a lot of emotions, and not every real estate agent will treat you with respect and compassion while you go through a difficult time. Life always throws unexpected curve balls, and you need to know that your best interests are respected.
That’s why Bill Buys Houses is right for you. We’re local, compassionate, and understand the difficulty of dealing with a loved one’s death. We work hard to provide an excellent and smooth process that allows you to sell an inherited home and get cash quickly.
If you’re stuck between a rock and a hard place, some real estate agents might not work with you or keep your interests in mind. You may have to pay unexpected fees to work with an agent. Bill Buys Houses has seen it all, and we understand the hardships that life can throw at you. We want to help you get through this process so you can return to your family and spend less time worrying.
Get Cash Fast
After our walkthrough, we will create an offer based on the current state of the house. Every offer we give to our customers is fair and competitively priced. The offer takes into account the price of necessary repairs and other important factors, and we will answer any questions you may have about the whole process.
Once you accept our offer, we will go through the legalities and other necessary steps to ensure the proper transfer of your property to us before finalizing the deal and giving you your cash offer. This process typically takes under one week.
To learn more about this process, contact us today!
Contact Bill Buys Houses Today
If you are in the Twin Cities metro area and trying to sell your inherited home quickly, contact Bill Buys Houses today. Our licensed and experienced agents will come to you to evaluate your property before coming up with a fair offer. Once you accept our offer, we can typically close the deal within a week.
To learn more about our services or to request an offer, give us a call at 651-270-9191 or message us on our contact page today.