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Inheriting a house may sound exciting from the first glance. However, often enough real estate inheritance comes along with unexpected taxes and other expenses.
Selling a home is already a stressful and often long experience. However, a sale of an inherited house after the death of a parent, spouse or other loved one can end up being even more stressful. The reason is that the person who owned the home before passing away did not anticipate the house to be sold.
In other words, the previous owner might not have taken care of the needed repairs or upgrades. Additionally, inherited homes usually contain original homeowner’s belongings, which need to be taken care of too.
Additionally, if you are inheriting, for example, your mother’s house together with your siblings, they may not want to sell it at all, or feel that the price for the family home should be higher than the home really costs.
Finally, selling your real estate inheritance can cause emotional distress due to the loss of a loved one. To add to the mix, when inheriting a property, you may be on the hoop for paying inheritance taxes, mortgage installments, property taxes or other unexpected costs.
It seems like a jumbled mess, but there is still a light at the end of the tunnel.
The answer is simple—sell your inherited property in any condition to Los Angeles Cash House Buyer.
Who is Los Angeles Cash House Buyer? We’re a group of private real estate investors who buy residential properties in any condition for cash in LA and surrounding area. We deal with individuals who want and need a quick sale of their home due to circumstances of any level of difficulty, including inheriting houses with the most serious legal and physical problems.
If your inherited home should be sold quickly, you can count on Los Angeles Cash House Buyer to have it sold within 3 to 30 days. We don’t charge any commissions unlike real estate agents. All the transaction expenses and closing costs are covered by us.
We realize that timelines are short when trying to sell an inherited home. That’s why Los Angeles Cash House Buyer acts quickly and buys your home off your hands ‘AS IS’.
If this is something that may be interesting for you, request your cash offer from us today.
Receiving an inherited home can either be a joy or a curse. Even if the home is in good shape, is it something you want to keep?
Can you afford it? Are there too many emotional memories tied to the home you want to avoid? In either scenario, you can sell an inherited property quickly to us.
Consider your timeline to get the home sold. Do you have the time to fix it up and sell it for more?
If not, you can sell it As Is without any upgrades to a real estate investor who will fix it up and resell. If this option if the one that works best for you, sell the home fast with Los Angeles Cash House Buyer for fast cash in less than a month!
In case the property is being inherited by you and your siblings or other relatives, you can consider the options at hand:
Buy the other owners out the property out.
Sell the property after agreeing to do divide the profit. After the sale equally divide the cash among all heirs.
If your siblings refuse to sell the property, there is an option to file a partition. This means a legal action forcing the siblings to move out of the house and sell it. However, it can ruin the family relationship, so it’s always better to do everything you can to come to an agreement first.
Your first steps to selling an inherited house are to find out if the property will be probated and if the house was left in a will. Unless the deceased made the correct arrangements before their passing, you are likely to experience probate process. If you are the executor of the will or court-appointed administrator, you can sell the property during probate. Additionally, an heir can sell the inherited property after they become the legal owner after probate.
Probate is a process in which the estate of a deceased person is divided between heirs and other beneficiaries, and a last will and testament is authenticated if the deceased had one drawn up. If there is no will, the property of the deceased is distributed by the administrator of the estate according to the law. Under probate, assets are valued and debt repayments are also arranged.
When going through probate, a house can be sold through an executor’s sale or probate real estate auction.
If the estate of the deceased includes real estate property, you normally need to get a probate. However, in some cases you don’t. Read on to learn when.
Probate is not always necessary. When no probate is needed, other procedures are used in order for the title to be transferred. For example, if you’re the surviving spouse, you can sell a house without probate if the property was jointly owned with the right of survivorship. Also, a home placed in a trust can be readily sold by the trustee, or after transferring the title to the beneficiary—no probate is necessary.
Additionally, a small estate affidavit can be filed if the estate is small enough and there is no will. California law classifies estate valued under $150,000 as a small estate (certain types of property aren’t counted into this amount), which means you can speed up and simplify the probate process if your inherited probate home is a part of it.
If you’re unfamiliar with the legal process, probate can be a long and confusing ordeal to undergo, and especially difficult while still experiencing the shock and pain of the loss of your loved one. Don’t hesitate to call our professionals to receive help and guidance on selling your inherited property fast and easy.