A death is a traumatic and difficult time, and issues like funeral arrangements and asset distribution only complicate the matter. While we can’t help with the emotional side of things, we can at least bring you a little peace of mind when it comes to dealing with the home you’ve just inherited. Especially if you’re looking to sell it fast.
This article offers some helpful advice on selling your inherited home as quickly as possible so you can move on to more important matters.
1. Get the home in your name. If the home is in a trust, all you need to do is contact the trustee and schedule a title transfer. If it is not, it must be transferred to your name through a probate court. You must be able to provide either Letters of Probate or Letters of Administration Probate. Court approval is required to transfer the title, and as long as there are no other parties contesting the transfer, this process is relatively quick and painless. Contact a lawyer or research the terms online for further information.
2. Get it appraised. Have the home inspected and appraised to determine its current value. Both the appraiser and the inspector need to be state licensed, and the cost of the inspections will vary depending on your state and the value of your home.
3. Home improvements. Make any requisite repairs and stage the home for sale. This includes painting, fixing roofs, cleaning, replacing appliances, etc. See previous posts for more details regarding how to prepare your home for sale.
4. Find buyers. Whether you hire a real estate agent or decide to sell it yourself, you’re going to need to attract buyers. See our previous posts regarding marketing and selling your home for more information regarding this step in the process.
After you’ve taken all those steps and have listed your home, the rest is essentially a waiting game. For the most part, selling a home you’ve inherited is the same as selling a home you’ve acquired through any other means. The biggest difference is in getting the title in your name so you are legally allowed to sell it.
If you were to inherit a home, would you rather sell it or keep it?
Do you have a piece of property (house, lot, or land) you’d like to sell fast? Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property. https://pdxrenovations.com/