Inheriting a home often comes with stressful complications and loose ends. Fortunately, you have an option to sell your inherited property easier, so you can spend your time and energy on more worthwhile matters.
Even if the death of a parent or another loved one leaves you with a clear and valid will, you can still face issues with the probate process, debts associated with the property, mortgage payments, and necessary repairs. Handling an inherited property becomes even more complicated when multiple heirs aren’t on the same page.
Inheriting real estate means you also inherit outstanding debts. If the deceased loved one left enough liquid assets like cash or stocks that can be used to resolve debts and mortgage payments, then you’re likely covered. Otherwise inheriting a property with liens and encumbrances attached may mean that it’s not worth keeping. In worst case scenarios, the mortgage or debt can rival the value of the property, which means you need a sale as fast as possible.
Not only do you have to cope with your loss, but you also have to handle issues with the property itself to sell. A house left to you in a will may need repairs and renovations. On top of other complicating matters that come with inheriting a property, you also need to fund and handle fixes that are necessary to make the house attractive for buyers. This can quickly drain you emotionally and financially.
Selling an inherited property when multiple siblings are property heirs can be impossible when everyone isn’t working together. Some may not want to sell your father’s or mother’s house, and agreeing on the family home’s price complicates and delays the sale. When you add in the time crunch of debts and mortgage payments, you can’t afford the delays that come with multiple heirs disputing how to handle the property on top of the time it takes to close a deal by selling traditionally.
Whether you want to sell a house during the probate or transfer the title through another procedure in order to sell it, selling to a real estate investor is the easiest way to expedite the real estate transaction process and make a straightforward profit.
Those in Houston, TX and the surrounding area who have inherited a house left to them in a will don’t have to struggle alone. Sell My House Fast Houston TX is a company of real estate investors that has built a reputation for helping people to sell residential properties since the 90s. Make matters simple by selling your inherited home with us and enjoy the convenient and fast process.
This means that you don’t have to resolve any debts yourself or fix any damages to the home whatsoever before closing the deal. By parting ways with the property that stays in any condition your loved one left it in, you save time, energy, and funds.
The second main benefit of selling to us means you can wash your hands of taking care of almost all paperwork and problems related to selling the house. The investor will negotiate with creditors for you and even with your disagreeing siblings.
You can typically close a deal in just 3-30 days. With our quick sale, you are saved from spending any additional time dwelling on your loss, stressing over complications related to the inherited property, and shouldering any financial burdens.
You enjoy the advantages of being paid in cash. Instead of waiting for a check in the mail or dealing with surprise costs or fees that come up later, you can confidently collect your offer and spend the amount however you see fit.
When you’ve recently inherited a house you want to sell, the first step is to find out if the property will be probated.
An inherited home can be sold during probate by the executor of the will, or if there is no will—by the administrator of the estate through a probate auction or a private sale. Otherwise, the property can be sold afterwards by the heir as legal owner.
Probate is a legal process of distributing the estate of the deceased, as well as their debt responsibilities, to the rightful heirs and beneficiaries who become the legal owners.
Getting a probate is needed to prove the last will and testament (if one exists) valid. If there is no will, a probate will also be necessary to distribute the estate between the legal heirs according to the law.
When a house is sold under probate, its value is assessed considering the debts the property may have, payment of bills, taxes, and debts is organized, and the home is sold through a probate auction or directly to a buyer.
However, there are circumstances when a property doesn’t have to go through probate.
When there is no will, and if the deceased owned a small estate, which in Texas classifies as a property valued less than $75,000, you can file a Small Estate Affidavit to become the legal owner. This process is much simpler than the probate.
Or if the property of the deceased had been transferred to a trust before their death, the title is transferred to the heir or heirs without the probate process either.
When the property was jointly owned by the deceased and their spouse with the right of survivorship, the title transfers to the surviving spouse automatically.
All these situations mean selling an inherited house without probate after the title has been transferred to the heir’s name.
The probate process, as well as any other way of transferring the title of your loved one’s property, can be overwhelming and complicated. If you want to sell your property fast and don’t know where to start, contact us today. Our professionals will be happy to explain what needs to be done in order to sell your property in the shortest possible time and with minimum hassle.