3 Easy Steps to Successfully Sell Inherited Property in California
When a loved one passes away and you inherit a property, the last thing on your mind is, “How on earth do I sell this house?” The California probate process may not be complicated, but it can be costly. Selling a home that your loved one(s) lived in can be a painful, expensive and time consuming experience. With inherited Real Estate, probate court may be a necessity, but do you need to hire an expensive lawyer? In this post we will cover how to sell inherited property in California and keep your cost down.
Step One: Figure out how title is held on the property.
There are ways to avoid probate altogether. If the property is held in a living trust, or in joint tenancy with another individual, the property may not need to go through probate. There are other ways to avoid probate in which one can get around costly lawyer fees and drawn out court approvals. Check with your local authorities to see whether or not you need to file for probate.
Step 2: File the ‘Petition for Probate’ in the county where the deceased person lived.
To hire a lawyer in California to simply fill out this paperwork can be very expensive. Unless there is a dispute over the property or estate it really isn’t necessary to hire a lawyer. Visit the Superior Court of California website in your county for instructions on filing. Make sure to keep taxes, utilities and mortgage payments current when going through this process but keep the funds in a separate estate account in order to provide the courts distinguishable records.
How do I actually sell inherited real estate?
Step 3: Sell inherited property.
Now you can decide on how you want to sell the property. Listing the property with a local real estate agent is probably the best way to get the most exposure to buyers and get top dollar. When putting the house on the market you will need to clean out the home, which can mean removing all personal items and rehabbing the property into tip top shape. Agents will want to hold open houses, and let buyers and agents view the home. This process can take months, prolong the probate process, and you will have the added extra effort of preparing the property for sale which can be exhausting and time consuming.
In order to sell quickly and avoid the painful process of cleaning and disposing of the personal keepsakes of your loved one(s), you may want to consider the services of a professional local investor. SAC House Buyers is a company that acquires and rehabilitates homes and neighborhoods in Northern and Central California. They are experts in quickly evaluating real estate and providing a fair offer for the property in its current condition. SAC House Buyers has experience with the probate process and can close on the date of your choosing without the hassle of preparing and selling your house on the open market.
Once all taxes and bills have been paid and the property is sold, you can then ask the court to close the estate . Once closed, ‘the executor’ can distribute the money and assets as agreed upon.
Call: 916-500-4410 or visit www.http://www.sachousebuyers.com to discuss selling your property today.