What Happens when you inherit a house?

By
Real Estate Agent with StepStone Realty, LLC

This article first appeared on my website about inheriting a house: 

Inheriting a house is one of the few big surprises that life brings us sometimes. But what happens when you inherit a house? As much as you may want to keep an inherited house, sometimes you may be forced to consider putting it up for sale. Well, selling an inherited house can be a demanding task, but definitely not impossible! With the right information and assistance from our company, you should have no problems selling your inherited house. So where does the difficulty come from selling an inherited house  and what are some of the  financial options you can pursue when selling an inherited house in Texas?**

Exactly what happens when you inherit a house in [market_state]?

There are a number of factors that should be taken into consideration when planning to sell an inherited house. Some of these factors include...

  • Dealing with the emotional aspect of selling a loved one’s home
  • The financial cost of making the necessary updates intended to attract buyers
  • Dealing with paying the mortgage or property taxes
  • Dealing with paying the utilities to keep the house in good condition
  • Dealing with cleaning up the property
  • Dealing with maintaining the yard and other aspects of the house
  • Dealing with potential costly liens and other hidden challenges

Tax forms

 

First thing, get ready for a rollercoaster of emotions

Selling a loved one’s house can be such an emotionally draining activity... This really cannot be stressed enough. The activity may involve removing his or her stuff, depersonalizing everything even more.  Deciding who gets what, where items go, what to throw away,  how to dispose of different items from household goods to things in the garage such as old paint.  What to do with it all?

When our emotions get carried away, we often don’t make the best business decisions. Times like that are when you need people with experience buying and selling probate homes in [market_state] to help walk you calmly through the whole process.  Every state has a different process and procedure so you have to be cognizant of that process.

Negotiating and managing the selling process

And other times, one might have to deal with expensive liens or other problems that don’t become apparent right away. Regarding these things, disagreements among your siblings might arise about the selling price of the house.

Apart from that, you will have to meet the financial cost needed for making the required updates to make potential buyers aware of and (hopefully) interested in your inherited house. There are also legal and taxation aspects of the sale that you must understand to make the sale successful.

These are the major problems that potential inherited house sellers have to deal with. Unless you are a professional in this area, the process can be tiring and daunting.  So not only is one going through the grieving process but the added stress of getting the house ready for sale is felt.

Now you know what happens when you inherit a house in Texas. This explains why you need to seek the help of real estate professionals who have had experience helping people sell their inherited houses. If you are considering selling your inherited house now or in the next few days or months, then you are better off speaking to one of our real estate experts. He or she will come in handy extremely to help make the process as simplified as possible. 

For more information about an inherited home see the following articles:

 

As the Floresville Real Estate Agent – Faye Y Taylor is here for your questions and to help

**I am not a lawyer nor a practicing accountant. This article provides general information related to the legal matters designed to help  but does not provide legal advice.  Although we work to make sure our information is accurate and useful, we recommend you consult a lawyer if you want/need legal advice. No attorney-client or confidential relationship exists or will be formed between you and us.

Posted by

Faye Y.Taylor

StepStone Realty, LLC

210 216-7722

Email Faye

https://www.FloresvilleRealEstateAgent.com

 Floresville Real Estate Agent:  homes for sale Floresville

South Texas Homes for Sale =Bexar County, Wilson County,  Guadalupe County =San Antonio, Floresville, La Vernia, Adkins, Stockdale, Seguin, Marion, Poth, Schertz, Cibolo and Pleasanton 

 

 

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Topic:
Home Selling
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Texas
Tags:
probate
sell my inherited house
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Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope 2019 is a great year for you.

Feb 05, 2019 05:11 AM #1
Rainmaker
4,019,646
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Faye, have not had anyone inherit a home yet, but your post is very informative for those who do!  

Feb 06, 2019 07:09 AM #2
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Rainmaker
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Faye Y. Taylor

Homes for Sale Floresville, La Vernia & San Antoni
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