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Parting with a loved one is extremely emotionally taxing, and the property you inherit can weigh heavily on your finances. Lighten your load with an easy and straightforward selling option.
When inheriting a property leaves you with confusing legal matters, recovering from the death of a loved one or parent gets more complicated. Any debts or mortgages that the deceased owed must be settled. If that financial strain isn’t enough, the inherited property itself likely requires repairs and updating before you can sell. Your situation is even more stressful if there are multiple heirs.
When you inherit a house left to you in a will or belonging to you by law, you also are given the responsibility of paying any debts and mortgages attached to that property. Unexpected financial obligations can easily push your budget to its breaking point. If the house has a tax lien or other outstanding payments attached, its sale gets more time-consuming, as before closing the deal, everything should be paid.
Selling with a realtor on the traditional market means that the property must be attractive to potential buyers, which in turn puts you in a position where you have to hire contractors for repairs. Not only will updating internal and external fixtures of the property cost you money, but repairs also cost you time. When a sale is delayed, your financial situation can turn even more serious.
Unsurprisingly, selling the family home is made even more complicated when siblings inherit the property. You’re in for a headache of a real estate process if everyone isn’t on the same page about selling the house or the proposed asking price. In a situation where emotions are already running high, fighting over what should be done with your mother’s house or a loved one’s prized home is the last thing you want.
No matter your situation, a faster sale is in your best interest after the death of someone close to you. If you want to sell a house going through probate or transfer the title through an alternative route, the most convenient and simple way is to sell the property to a real estate investor. This alternative to the traditional housing market is far more simple and allows you to easily sell As Is.
If you are inheriting a house in San Antonio, TX and its surrounding area you don’t have to struggle with all that comes with selling an inherited property. Instead of dealing with debts, mortgage payments, costly repairs, and more, you can sell quickly and easily with San Antonio Cash Home Buyers. Our company of real estate investors has been buying residential properties for years from people facing various problems, including difficult probate cases. With us you can expect a fast and transparent transaction.
Traditional transactions can leave you waiting for your buyer to be approved for a mortgage, hoping they will have no complications with this. When you sell to an investor, you almost don’t wait for your money. Instead, you receive your cash in 72 hours or less after signing the contract.
If you want to skip the paperwork and other issues connected to selling real estate, San Antonio Cash Home Buyers has you covered. Having an investor take care of negotiating with creditors and settling debts that come with the property means you enjoy as stress-free transaction as possible. The investor can even help you handle your disagreeing siblings to expedite the sale.
Selling traditionally also comes with extreme uncertainty. You can never be sure of how long you have to wait for an offer. Selling your property to us means you benefit from a quick sale that is finalized in 3-30 days.
Selling your inherited home As Is means that you don’t have to stress over repaying debts or mortgages tied to the property. You save much time and energy by selling faster without being under any obligation to make repairs. While the traditional housing market isn’t kind to fixer-uppers or homes with extensive repair histories, real estate investors can give you an offer on your home in any condition it is in now.
Before you think about how to sell, first determine if the property you inherited will be probated. The will’s executor or the court-appointed administrator (if the deceased left no will) can sell the property during probate. Otherwise, you can sell after probate if you are the new legal owner. If probate is not necessary, the property can be sold as soon as the title has been transferred to you.
Probate is the legal process in which the designated heirs of a deceased individual are made legal owners of an estate and other assets or get the cash value of their shares. Under probate, a last will and testament (if there is one) is authenticated. This process also includes reassigning any debts to the appropriate persons.
While distributing an estate, that includes a house, between beneficiaries, a probate is normally required. However, there are exceptions.
If the deceased’s property is jointly owned by the spouse or specified heir, no probate is needed.
If a property was placed in a living trust, you can sell the house without probate after transferring the title to yourself or after the trustee sells the home.
Probate is also significantly simplified if a small estate affidavit is filled out. In Texas, a small estate’s value limit is $75,000.
If you’re unsure about the legal procedures that follow the death of your loved one, you don’t have to worry over becoming an expert in probate overnight. Instead, you can use our professionals as resources to help you sort through what needs to be done in this troubling time. Reach out to our company to have an experienced investor break down what you need to do to sell your inherited real estate property quickly and easily.