Selling an inherited home can be a very difficult process. When that difficulty is compounded with the emotional stress of losing a family member, it can be too much for many people to handle. To help you get through such a tough situation, we’ve shared some steps below to guide you through the process of selling an inherited home.
Step 1: Get some expert advice
- Verify ownership of the house and check its status: It’s best to get professional legal advice to determine the actual status of the house before making any decisions. Your best option is to contact an estate attorney and see what they can tell you about the property. In certain states and in some special cases, what’s known as a “License to Sell Real Estate” will be required from your local Probate Court. In addition, there is a “creditor claims” period during which any creditors with claims against the estate must present them. Once this period has passed, all the assets from the estate will be distributed according to the will.
- Contact a tax advisor: There can be a lot of financial hurdles to jump over when selling a piece of inherited property. After verifying the status of the property, you will want to get in touch with a tax advisor. If you’ve discovered that there are any claims on the house, bring that up with the advisor.
- Be prepared for bad news: This isn’t meant to scare you, since more often than not, you’ll be able to move into the selling process. However, some properties will have so-called underwater mortgages (meaning the money owed is worth more than the property), or even environmental hazards (usually with older properties).
BUY MY HOUSE NOW purchases homes that are under a variety of different financial statuses. Contact us to see if we can help.
Step 2: Check the market
- Get in touch with a Buy My House Now representative: A member of our team will be able to give you a good understanding of your local housing market, which is something you’ll need if you plan on selling an inherited house.
- Repairs: Inherited properties will often have very out-of-date decor, and they may even have some appliances or utilities in need of upgrading. Instead of replacing them entirely, and paying cash out of pocket, contact our team. We purchase properties, as-is, which means you don’t pay a dime for repairs.
Step 3: Sell To Buy My House Now
- No appraisals necessary: We have our own team of underwriters and appraisers that will visit your inherited home in order to identify repairs that need to be done. This is at NO cost to you. 100% of the financial responsibility goes to our team!
- Remove personal items: While this might be an emotionally challenging step, it’s key when selling a property. If you need assistance removing unwanted items from the home, we can help. After selling to Buy My House Now we can help remove items from the home.
Sell your Inherited Home for Cash
If you have inherited an old, run-down property BUY MY HOUSE NOW can help. Sell to us and we take care of all the repairs. You won’t have to spend a dime on your inherited property when working with our experienced team. We have been buying and selling homes in Arizona for years and have an extensive understanding of the local market. So if you have inherited a property in Arizona and are looking for buyers, look no further! We buy houses in any condition and we look forward to buying yours.