Selling Inherited Property

We Buy Houses | Fredericksburg VA: When you inherit a piece of property you can usually sell it, but you must make sure that you have no other people involved in the inheritance. If there is an attorney for the estate, an estate planner, or someone who is handling the will and disbursement of funds to the heirs, you will need to speak to them to find out when it is ok to begin the sale process.

Once you know the timeline involved, you will know better how to proceed. If you are among other heirs that are entitled to a portion of the proceeds, it can be more complicated. There are different scenarios that are possible with a group or more than one heir. Sometimes one of the heirs wants to stay in the home and doesn’t want it sold. In this case, you would have to find out what the current market value of the home is, and then figure out what the shares would be. The one who wants to take possession of the home can then buy out the others at the cost of their shares. For example, if the house is worth $80k and there are 4 siblings in the will.

The one who wishes to take possession of the house must be willing to pay each of the other 3 about $20k each to satisfy their share of the inheritance. If you are the only one in the will and there is no probate to deal with you can sell the house just as though you would sell any house. You can put it on the market and do all of the things you would do if you were selling your own home. When the house is placed in your hands, go and check it over. You may have to do some repairs and remodeling to get it up to an acceptable standard so you can attract buyers.

In the case of elderly relatives that pass away and leave a house to you, there may be extensive repair necessary as they may not have been physically able to keep up with the maintenance in their final years. In that case you can do the work yourself and take your time selling the house in the traditional way, sell it yourself, or you can call a real estate investor. Many of them specialize in buying inherited homes and buy them in their ‘as is’ condition.

Artic Properties.com are experienced real estate specialist in Stafford Virginia. We buy houses that others won’t touch in the following areas of Virginia:

• Stafford
• Fredericksburg
• Louisa
• Spotsylvania
• Locust Grove
• King George
• Carolina
• All of Virginia

We are not real estate agents who list your house looking for buyers. We are Spotsylvania local home buyers, and there are no fees or commissions to you when we buy your house.

Contact Artic Properties today to get a fair and honest offer for your house!

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