If you’ve recently acquired a home through a loved one’s will and have no intention of moving in you have several options. First, you can choose to rent it out however there’s many factors you’ll want to consider before doing so. Are you willing to deal with the hassle of paying the property taxes, handling maintenance requests, or the risk of problematic tenants? Instead, we recommend selling the home all together especially if you’re in need of the extra cash!
How Do I Sell An Inherited Home While In Probate?
There are several things that will determine how quickly you’ll be able to sell an inherited home. More often than not, people inherit property either as part of the deceased owner’s will or as next of kin if there’s no will. In both instances you’ll have to go through a legal process called probate which involves having an executor oversee the distribution of assets to ensure they’re carried out according to the deceased person’s wishes. So, the first thing you’ll need to do is get approval to sell the home which usually isn’t a problem if you’re the sole beneficiary. However, things get a little more complicated if there are multiple heirs listed because they will all have to agree to sell and split the profit.
Why Sell An Inherited Home?
As we mentioned above, dealing with the loss of a loved one can be overwhelming both emotionally and financially. On top of that, the added stress that comes with deciding what to do with the property can often lead to arguments amongst family members. From a financial standpoint, the easiest thing to do is sell because this will give you immediate access to the funds from the sale in addition to avoiding having to pay taxes and maintenances costs associated with holding onto or renting out the property.
Who Will Help Me Sell My Inherited Home?
Our experienced team is willing to purchase your home regardless of the condition or situation. All you have to do to get started is call us at 631.750.2837 to schedule a no obligation consultation where we’ll come out to see your home, make you an offer on the spot, and then close on your schedule!