Inheriting a home can be a surprise blessing, or it can end up being a pile of unanticipated headaches. The simplest way to sell your inherited property is finding a real estate investor.
A house that you were left in a will may or may not actually be an asset to you. For any number of reasons, it could turn out to be a liability instead, in spite of any good intentions the deceased may have had in leaving it to you.
It’s not at all uncommon for elderly homeowners to neglect regular maintenance and needed repairs. Older homes have had plenty of time to develop problems, and many times those problems only come to light with the death of a parent. A leak could have hidden undetected inside a wall for decades, for example, causing unseen damage, and requiring expensive repairs.
Sibling rivalry doesn’t end when the siblings in question are all grown up, nor when the parents have passed away. Stressful situations magnify strong emotions, and figuring out who should get the family home is bound to create friction among the grieving survivors. It may just be easier for you to sell the home and divide the cash among the siblings. But the sale itself may also be complicated and delayed by squabbling siblings who can’t agree on how to price the home, or even agree to sell it at all.
There could be a mortgage on the home, even if it has been the family home for many decades. Though it may have been paid off at some point, there can be a second mortgage on the property, or a home equity line of credit, or some other form of debt that needs to be paid in order to settle the estate, which can make the probate process long and difficult.
Your inherited home will probably need to go through the probate process – most estates do. Or if the property has been placed in a trust, if it is jointly owned, or if it qualifies for a small estate affidavit, the title will be transferred in an easier way. Either way, selling it to a real estate investor is the easiest way to quickly liquidate the property you have inherited.
Houston Cash Home Buyers is the best real estate investor company in Houston, Texas. For decades we have helped people in Houston and surrounding areas with their real estate sales. Our dependable services make us a top pick for cash real estate sales.
We buy homes for cash! There’s no need for you to wait for your buyer to get an approval from a bank or mortgage company before you can close the sale. We’ll make you a cash offer for your home, and you can collect your money in just a few days. It really is that simple!
When you sell your inherited home with our real estate investor, all of the details will be handled in order to minimize the hassle for you. That includes settling any debts owed by the estate by negotiating with creditors, as well as coordinating between siblings who can’t see eye-to-eye on handling the property. We will handle everything and all the paperwork, too!
We buy homes in any condition, no matter how they were left by the deceased. That includes homes that have been flooded or have a leaky roof or pipes, or houses with a mold infestation. That means you won’t have to worry about having any repairs made, doing any remodeling or updates, or cleaning the place up. We’ll take care of it all for you.
It won’t take months for you to sell the property, as it often does in real estate transactions with realtors. Instead we offer you a quick sale of your property – in only 3-30 days – so you can get through this difficult time and get back to your own life as quickly as possible.
The death of a parent brings a number of difficulties. Among the questions to be answered is: What will we do with mother’s house? Will the property be probated?
If the property is going through probate, it’s possible to sell the house during the probate process, or you can wait until after probate is completed and you become the legal owner.
Probate is a legal procedure to distribute assets of the deceased between the beneficiaries and heirs. It’s required in most cases when the estate of the deceased includes real estate property.
A probate judge determines a will’s validity, or, if there’s no will, how the estate will be distributed according to the law. During the probate, the house can be sold at a real estate auction or through executor’s sale, if the will doesn’t limit the executor to sell the estate property. You’ll probably need to get a probate attorney – most Texas courts require it. It can take nine months to two years to complete the process – if the estate is not contested or complex. It can also eat up to 10% of an estate with fees. If the will is contested, both time and costs will be multiplied.
Sometimes you can sell a house without probate.
In a living trust, property is already distributed to the trust. If the deceased created a trust, named a successor trustee, and transferred ownership of property to the trust, the successor trustee can transfer property at will after the passing of the decedent.
Jointly owned assets are exempt, if ownership includes the right of survivorship. Transfer of ownership is automatic on death. The survivor needs only to complete a form and present it with a death certificate to the authorities.
A small estate affidavit can be used if there’s no will, and the property’s value is less than $75,000 (in Texas) aside from the homestead and other exempt property. The affidavit must be signed by each inheritor and two witnesses. A judge must approve, and there is a 30-day waiting period.
To sell your inherited house in the easiest way possible, call us today. Our professionals at Houston Cash Home Buyers will help you to get cash for your estate home fast and forget all legal troubles you don’t have time for.