Are you in the situation to sell an inherited home in Texas? This is not as easy as people think! Read on to learn how to sell a house you inherited in San Antonio…
First off is all of the emotional challenges that come with preparing a loved one’s house for sale – removing family photos, sorting thru files, and clearing out other belongings including, sometimes overwhelming amounts of outdated items and trash. Once that is completed there are the costs and stresses of marketing a house to potential buyers.
Frequently heirs are left to deal with the high costs of liens, taxes and other issues. Consequently, disagreements may arise.
Here are a few tips from Matt Buys Houses TX on how to sell a house you inherited in San Antonio to help ease the stresses and burdens associated with selling an inherited house.
Probate Process Tips:
Ask for professional advice
Many estates are fairly straight forward, but it is always wise to get professional advice. A professional can help you understand the issues that may effect your loved one’s real and personal property, and make sure that you verify your ownership of the property. Real estate attorneys, a local Title company, and other experts can help answer these questions. You can also use this site as a resource, or learn if you can Sell an inherited house before Probate. We can also give you a fair deal for your inherited local San Antonio house if it qualifies.
Start the process
After seeking professional advice it is time to take action. Depending on the ownership of the property, size of the estate and other factors, the advice may look a bit different. In some cases property can be sold with an Affidavit of Heirship, other may be adequately addressed by a Muniment of Title, and many will require you to Probate the estate in the County Courts. Once the title to the house is cleared thru one of the above processes, you can begin to market the property.
There are a variety of tax implications to keep in mind. Our loved ones may have tax exemptions. In situations where the house is sold in a short period the impact may be minimal. In others where heirs have lived in the property with exemptions, there may be significant taxes owed. Sadly in one case, the seller of a property lost nearly all of their proceeds to pay back taxes when exemptions were rolled back many years to the day of death of their loved one.
How to sell a house you inherited in San Antonio
Agreeing to sell
If you are ready to sell your inherited house in San Antonio, the executor or administrator (the “decision maker”) can legally sell the property. Once that person has been appointed by the court, any property in the estate can be sold.
Problems often arise when siblings who share the inheritance have different views. For instance, the heirs can’t always agree on selling the house when it comes to the price offered. If and when this happens to be the case, it is important for everyone involved to reach an agreement. Hopefully, there is a probate attorney involved in this process to help move matters along.
Preparing to sell
It’s not unusual to find yourself in this position. Often the seller of a house that belonged to an elderly person may require repairs and updating before you can sell the property. Also, you will need to get rid of everything! You can choose to hire an inspector to note down potential issues and recommend possible repairs. Although you can sell a home in San Antonio “as is” you need to be prepared to accept a lower price, especially if your house requires extensive repairs or updates.
Here at Matt Buys Houses TX however, we will always give you a fair offer that reflects the work that needs to be done. We will help you get as much value from your inherited house as possible. Our company often buys local houses in San Antonio, repairs them and either rents them out or sells them to someone else looking for a great home.
If your local San Antonio house meets a few simple qualifications, we can buy your house fast.