It can be both an amazing gift and a challenge to inherit a house from a loved one. According to the circumstances, you may be able to move into the home, rent it out, or sell it.
Using this guide can help you avoid the usual pitfalls and obstacles that can cost you money, prolong the process, and increase your frustration when selling an inherited home in Cincinatti.
Considerations in Selling an Inherited House
There are a few questions you should ask before selling an inherited home.
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To get an idea of what your home is worth, use online home value estimate tools or compare the house to other similar properties in the area. Even so, the amount you see doesn’t necessarily mean you can sell your inherited house for that amount. The price of an inherited home will vary depending on a variety of factors, such as its condition and the local housing market.
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In addition to the mortgage, does the house have any other outstanding property taxes or liens? Are you going to have to use the proceeds from the sale of the home to pay them off?
[/et_pb_blurb][et_pb_blurb title=”How many people are inheriting the property? ” use_icon=”on” font_icon=”\||divi||400″ icon_placement=”left” _builder_version=”4.14.9″ _module_preset=”default” header_level=”h3″ global_colors_info=”{}” theme_builder_area=”post_content”]A lot depends on how many people might inherit a portion of a property when it is inherited. Is everyone in agreement that selling the inherited property is the right decision? How will the process of the estate sale be managed?[/et_pb_blurb][et_pb_text _builder_version=”4.14.9″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”]
Preparing to Sell the Inherited House
Upon determining if selling an inherited house makes sense financially, you’ll need to prepare the property for sale. To prepare an inherited property for sale, here are some real estate tips:
[/et_pb_text][et_pb_blurb title=”Clean out personal belongings. ” use_icon=”on” font_icon=”\||divi||400″ icon_placement=”left” _builder_version=”4.14.9″ _module_preset=”default” header_level=”h3″ global_colors_info=”{}” theme_builder_area=”post_content”]Going through your parents’ or loved ones’ most personal belongings is one of the most challenging aspects of inheriting a house. It’’s impossible to combine a lifetime’s worth of belongings with your own, but you should find a few cherished items for yourself and for your family. Start sorting items into piles based on whether they should be given away, thrown away, or sold.[/et_pb_blurb][et_pb_blurb title=”Probate the estate. ” use_icon=”on” font_icon=”\||divi||400″ icon_placement=”left” _builder_version=”4.14.9″ _module_preset=”default” header_level=”h3″ global_colors_info=”{}” theme_builder_area=”post_content”]If your loved one has a will, the estate might need to go through probate before you can sell the house. In Ohio, the length of the probate process depends on the value of the estate. This can be tricky and will need you to consult with a probate attorney.[/et_pb_blurb][et_pb_blurb title=”Determine who has the legal responsibility to handle the transaction.” use_icon=”on” font_icon=”\||divi||400″ icon_placement=”left” _builder_version=”4.14.9″ _module_preset=”default” header_level=”h3″ global_colors_info=”{}” theme_builder_area=”post_content”]The executor of a will is the person who has the responsibility and power to distribute the property owner’s assets, including real estate. In a trust, the trustee has this same power. When siblings inherit property from their parents together, one person is usually responsible for handling the conveyance.[/et_pb_blurb][et_pb_text _builder_version=”4.14.9″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”]
What to Expect When Selling Your Inherited House
The process of selling a home involves many steps, beginning with market research and ending with a closing. There are many factors that influence the time it takes to sell a house, including the condition of the property, the market value, the market conditions, and even the skills of your real estate agent, if you decide to hire one.
However, if you’re in a hurry to sell your inherited home for whatever reason, there is a quick and simple solution—selling the property to a cash buyer. All you have to do is call a reputable company and give them information about the house. They will make a cash offer, subject to your approval. Once you accept the offer, they will handle all closing procedures and give you the cash in a matter of days or weeks.
Need to Sell Your House Fast?
Planning to sell your house but don’t have the time and budget to deal with a real estate agent? We at Offer Express can help.
As a professional cash home buyer in Cincinatti, Ohio, we provide excellent solutions if you want to sell your house fast and want a fair price for it—without the stress, hassle, or costs of listing. We’ll buy your home as is, and we’ll guide you through the entire process from start to finish. You’ll get your sale in cash without no closing costs, fees, or commissions.
Get a fair all-cash offer on your house today. Call us at (614) 820-5777, or visit our website at https://offerexpress.com/ to fill out our form.