Selling an inherited home may sound simple, but in many ways, it can be a very complicated process. Here’s an example:
A few weeks ago a former client called me. Jane, her co-worker, had unexpectedly inherited a home and needed help. We talked for a few minutes and I told her to have Jane contact me. I’ve worked with many clients who inherit an unwanted house and wanted to sell.
Jane sent me this email later that night
Last month my aunt passed away suddenly. I had spent my childhood summers on her farm. A few days after the funeral I got a call from her lawyer. He said we needed to talk about her estate and something about probate in Texas. Turns out she left me her home. Help! I’m very thankful to her, but her house needs a ton of work. What should I do?
I got in touch with Jane the next day. We talked about her aunt, the home, and what she knew about probate in Texas. We scheduled a meeting for later that week.
How To Get Rid Of An Unwanted Inherited House
Jane was in a situation that many of my clients end up in: the owner of an unwanted inherited house. It’s a blessing that a loved one cared so much, but the homes usually need work, and unfortunately, the probate process can be long and difficult.
My job at Clean Slate Homes is to guide you through the process of selling an inherited house. If your situation is similar to Jane, call me right away! You can sell the home as-is without the headache of keeping the house in probate forever.
When selling an inherited home for the first time, you’re going to hear a lot about what probate is and a lot of new definitions in the coming months. Let’s talk about what probate is and what you need to know to get started.
What is probate and how does it work?
When a homeowner passes away, the home — usually called an estate — is left to someone. Usually, this is a family member, relative, or friend, but not always. Before the new owner can claim the home, the inherited property has to go through the courts. This is to verify that the right person owns the home and that any disputes about the property are settled.
Probate is a complicated legal process involving courts and lawyers. Often this process takes months or years to finish.
I’m not going to take you too far into the probate process, but I do want you to know two major things about probate: the difference between testate probate and intestate probate.
- Testate probate happens when a will is left that names a beneficiary and an executor. The beneficiary is the person who will get the home, and the executor is the person who makes sure the will’s requirements are met. The will also say if the home can be sold by the executor with or without court confirmation.
- Intestate probate happens when there is no will to name who inherits the home. When this happens, the courts become more involved. The courts will appoint an administrator who will determine who will inherit the house or who will benefit from a sale.
Have more questions or need advice? Call me and we can talk more.
Probate in the Lonestar State
Each state usually has its own requirements for how probate works. Here’s what you need to know about probate in our great state.
- The executor of a will has up to four years to file for probate.
- If the executor doesn’t file or there is no will, state law decides how to distribute the assets to the heirs.
- The public must be notified after an executor files probate.
- Creditors must be notified in a timely manner.
- The executor has 60 days to notify all beneficiaries of the will.
Selling An Inherited Home You Don’t Want?
Most inherited homes I work with need serious help. My clients are shocked to realize just how expensive it is to keep the home. Maybe the home needs repairs or renovated. Sometimes the home isn’t paid off and the mortgage needs paid. Taxes, utilities, and other costs to maintain the property can put a strain on any budget.
An unwanted home can quickly become a money pit, especially if the home sits in probate forever. This happens more often than you might think. Clients like Jane call me saying they’ve waited for months or even years to receive an inherited home. While they wait the home is accruing debts and falling apart even more.
With Jane, she really wanted to keep the home in the family, but she couldn’t afford the costs and taxes. Jane and I talked about her options, including selling her inherited house to me for cash. The good news is that a home in probate can be sold. Here’s when:
- During the probate process by the administrator or the executor
- After the title of the home is transferred
- If the property is held in a trust
- After the home is deeded by the trust
Avoid the Headache and Sell As-Is
If you’re considering selling an inherited home, call me! You don’t have to keep the home in probate. If you or other heirs have a home in probate, you can request the administrator or executor to sell the home instead of waiting for the probate process to end. We will buy the home as-is.
Selling an inherited house means you don’t have to worry about:
- Making any repairs
- Paying off debts
- Commissions, fees, or closing costs
- Wasting your time and energy
When you decide to sell as-is, I will come and speak to you about the house and do a walk-through. After, you’ll have a no-obligation cash offer on your home within 24 hours. You won’t have to worry about spending your hard-earned money fixing up the house. The sale means fast cash for you and any other heirs and no more headaches.
I gave Jane a fair cash offer on her house, which she eventually took. A few months after we first spoke Jane called me to thank me. She took the money from the farm and started a dog-training business, inspired by her late aunt’s love of dogs.