Many people find themselves in the position of trying to figure out the best way to sell an inherited house. While driving home today from helping a family with their mother’s estate, I was specifically thinking of the estates I worked with. Hundreds of times over my career I have been called upon to help families when they are faced with the loss of a loved one. Many times they need to sell an inherited house too. Besides being a real estate investor, I am also a grandson and have experienced the loss of all 4 of my grandparents.
I understand the feeling of loss and I am keenly aware of how difficult the situation can be. Many times the family is not ready to take on the responsibility of the house left behind. They may live out of town and can not take the time to drive or fly back and forth. There may be a lot of repair issues where there is not enough money or time to take care of it all.
Sometimes there is conflict between siblings. In addition there are disagreements about who should pay the taxes, insurance and repairs until the house is sold. Therefore my primary objective when working with estates is to be a source of information.
Common questions about how to sell an inherited house
- Do I have to probate the will?
- My parent re-married and its complicated – does my step mother/fathers children get some of the proceeds?
- Do I have to do the repairs?
- My brother has been living in the house since my parent passed and is not paying for the taxes, insurance or upkeep. What are my options?
- Do I have to clean out the house?
- The will leaves a portion of proceeds to someone who can not be found. What do I do?
- My mom has dementia and has to go to a nursing home. What do I do with her house?
No matter you family’s situation, I can help you. Call me today for advice and pointers in selling a house you’ve inherited. I tell everyone I meet, if I cannot buy your house, I’ll do my best to point you in the right direction.