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Selling a house left to you in a will is not the same as selling a primary residence. Inherited homes have additional legal and financial considerations, which complicate the process.
Understand what you face when selling an inherited home. The more informed you become, the better the results you will experience. Unexpected indebtedness may encumber the house. It may be in a state of disrepair. And if you have any siblings, disagreement among the heirs can delay the sale.
You are not dealing only with the sale of the house. The property may have financial obligations against it. You will probably not be aware of those obligations unless you took care of the deceased person’s personal finances.
In addition to an outstanding mortgage, the house could have been used as collateral for secondary loans. A tax lien could have been attached to the house because of overdue property taxes. Creditors, trying to collect for unpaid bills, may have the property tied up in court. Any number of financial considerations could delay the sale of the home.
Inherited homes frequently need a lot of maintenance. Getting your mother’s house ready to sell, for example, can reveal maintenance issues that have been neglected for years. The repairs necessary to correct these issues can be both costly and time-consuming.
It’s hard to find a buyer who is willing to take on costly repairs, such as water damage or structural cracks. You must decide what, if any, repairs you are going to make.
If you share the inheritance of a property with siblings, additional difficulties can arise. The siblings might disagree on the selling price of the family home—or if the house should even be sold. These difficulties may cause your house to stay in probate for a long time while you are paying extra for your attorney’s time while trying to come to an agreement with everyone.
The hassle of selling an inherited house can be avoided by selling it to a real estate investor. Investors make it easy and convenient to sell a home—whether the property goes through probate or the title is transferred in another way.
Sell House Fast Los Angeles CA is a familiar name in the real estate market of Los Angeles, California and the surrounding areas. For years, we have been known as the premier buyer of inherited property. We help sellers quickly get cash for homes left to them in a will.
Because inherited homes are usually older structures, they can need a lot of repairs. The deceased person may have been in poor health or had financial challenges. Maintenance may have been neglected, and the house could have severe structural problems.
You do not have to worry about making costly repairs when selling to us. We buy houses in any condition. We are not intimidated by cracked foundations, leaking pipes, old shingles, or even black mold.
When we buy your house, we buy it AS IS. The moment you accept our fair cash offer, you no longer have any responsibility for the condition of the house.
Because inherited houses are a part of a legal estate, the additional paperwork can be overwhelming. When we buy your home, we take care of all the paperwork.
We settle any loans or other financial obligations against the house. We don’t want you to have any unpleasant surprises, so we factor all of our costs into our fair cash offer. No unexpected fees are deducted from your offer.
After the death of a parent, siblings may not agree on what to do with the family home. We help siblings come to an agreement.
A quick sale is always our objective. After you agree to our fair cash offer, in 3 to 30 days you will have all your cash in hand.
When you sell to us for cash, you get all the money we agreed to in just a few days. We don’t deduct for closing costs or any other fees. You only get the cash you were promised within 72 hours after signing our purchase agreement.
First of all, find out if the deceased person had a will, and if the house you inherited has to go through probate. If you can’t avoid probate, the house can be sold while under probate. Or you can sell the home when you become the legal owner.
Probate is the legal process of settling the estate of someone who has died. Unless the property is held in a trust or jointly owned with a spouse or other person with the right of survivorship, it must go through probate.
If probate is necessary, you need to get probate granted by the court. During probate, the estate’s executor can sell a probate house through a real estate auction or an executor’s sale.
Property that doesn’t go through probate can be sold as soon as you have legal ownership.
For example, you inherit your mother’s house through a living trust. Property in a trust doesn’t need to be probated. We can buy the family home as soon as you have the title, or even if the trustee just sells it to us and transfers the proceeds to you.
Without going through probate, jointly held property transfers directly to the surviving spouse if the form of ownership includes the right of survivorship.
Each state has its own rules for the maximum size of what is called a small estate. In California the maximum worth of the whole small estate is $150,000 (certain types of property may not be counted). If the house you inherited qualifies, the probate process can be shortened by completing the “Small Estate Affidavit” form.
To talk with an experienced investor, call Sell House Fast Los Angeles CA today. We will explain in detail how you can sell your property easily.