There’s no good time to lose a parent—it will always be heartbreaking. After you go through the grieving process, you’ll need to make some difficult decisions regarding their estate. Often, considering moving into a home with so many memories is too hard, so people decide to sell. Read on to learn what you need to do to sell an inherited property. Determine the Status of the HomeInheritance can be highly confusing. Property transfers are complicated, and they often require more time and effort than the quick reading of a will. If your parent did not leave a will, you must complete the probate process. The court will supervise the dispensation of your parent’s estate, including their home, so you would not be able to sell for up to two years in this case. If your parent transferred the ownership of their home with a death deed (or beneficiary deed), you might be able to avoid probate altogether. This depends on the state in which you live in; some states require your parent to bequeath the property in a will as well. Finally, there is a living trust, which is usually the best scenario for multiple heirs. A trust outlines who makes the decisions regarding the home while avoiding probate and some estate taxes. Prepare the House for SaleWhen you’re ready to put the house on the market, you need to get it ready for buyers to see. Remove personal items, repaint any uniquely colored walls, and make repairs as necessary. If you want to avoid all this, you can always contact us to sell your house as-is in Naperville. Now that you know what you need to do to sell an inherited property, decide whether the process is right for you. You can also rent out the home or move into it yourself—follow your instincts to decide which option is best.
1 Comment
2/17/2022 01:55:26 am
Such an informative blog, I am really happy that I came across your website. I have scrolled other blogs also, they are very informative, keep posting more.
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AuthorEric Strung and Direct Property Buyer Team Archives
January 2024
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