Selling an inherited property can come with a laundry list of issues. Whether you want to get rid of your family home during probate, after it or even if the complicated probate procedure is unnecessary in your situation, we at Dallas Fast House Buyer can provide you with the quickest sale in Texas.
Another potential burden upon an inherited home are damages and disrepair. If the family home is run down and in need of costly maintenance, it can be an obstacle to selling the home. Dealing with contractors, overseeing the remodeling while still feeling the pain of your loss and at the same time handling all the hassle of the probate procedures, pushes the stress to the limit. Especially if you lack finances to fix the property, which will make it unattractive to buyers, the house can stay in probate for too long.
Unfortunately, if a home has a lien or mortgage upon it when a person dies, the debt does not go away. Instead, the debt, along with the house, is transferred to the inheritor. This can cause even bigger issues if there are other debts to pay or the inheritor cannot afford the mortgage, or even simply wants to sell the home of their deceased parent or loved one.
Some houses are left in a will after the death of a parent to a few siblings at once. In this case having everyone agreeing on a path forward can be challenging. A sister wants to sell mother’s house, a brother doesn’t want to move out, another sibling wants to sell, but doesn’t like the proposed price. The disagreements are lasting forever, and as a result they spend too much for the probate attorney, who charges per hour, for the maintenance of the house, and also for property taxes.
Whether your property is going through the probate process, filing a small estate affidavit to make the process simpler, or have already transferred the title to yourself, Dallas Fast House Buyer can help you sell faster than anyone else can. We are real estate investors in Dallas TX and its surrounding areas whose area of expertise is buying the most difficult properties that can’t sell quickly on the traditional market. We have been in the industry for a long time and have the knowledge and experience to help you get cash when you need it as soon as possible.
With us clients normally sell in 3 to 30 days, while selling with a probate realtor or FSBO can take months and years to complete!
Unlike people who are buying a home to live in it, we have the cash ready. You will not need to wait until your buyer finally gets approved by their bank for a mortgage loan, which can take more than a month in some difficult cases. And sometimes, after all this time, a person finds out they can’t get a loan at all, and you need to start the marketing process again!
With us you get cash within 72 hours after you sign the contract, and on the closing day you walk away with it, feeling relieved.
Your home doesn’t have to be in perfect and even in livable condition to sell, if you are using our services. There is no need for you to spend your valuable time or take a risky loan for repairs, painting, or staging if you don’t have cash available.
Dallas Fast House Buyer will buy your home “As Is” in any condition. It’s as easy as that.
Forget jumping through the hoops of dealing with pesky creditors or endless mountains of paperwork. Your Dallas Fast House Buyer investor will do all the paperwork and handle any other problems relating to selling your family home. The investor will negotiate with all creditors to settle any debts or liens on the property. As experts in negotiating, we will also help you come to an agreement with your disagreeing siblings.
First thing’s first: does your property have to go through the probate process? Is there a will left by the deceased? These are important questions you will need to know the answers to before you begin to sell your family home.
In Texas, when a person dies and leaves a property behind, the court system will normally get involved, whether or not the house was left in a will. The process of validating the will (if there is one) and then distributing all property of the deceased to all heirs and beneficiaries, is called probate.
Normally, real estate property should go through the probate process (except a few exceptions we will explain further). If it does, it can be sold either while being under probate or after the process is completed and the heir has become the owner.
If there is a will, the person distributing the estate will be called the Executor of the Will. Otherwise, the responsible person is called the Administrator of the Estate. Administrator or Executor are appointed by the court and normally are the closest relative of the deceased person or anyone else named in the will.
During the probate a house can be sold through an executor’s sale privately to a buyer, or through a probate real estate auction, if the executor’s power to sell the probate property is limited by the will, and the sale needs court confirmation.
In the following cases you can sell a house without probate:
If the probate house is a part of a small estate, which is $75 000 or less in Texas (excluding exempt property), the probate process can be simplified by filing a Small Estate Affidavit.
If the property is held in a living trust, the probate process is not required at all. The house can be sold by the trustee who will transfer the cash to you, or the trustee can transfer the title to you, and then you will sell the home yourself.
Additionally, if the property is jointly owned with right of survivorship, there is no need to go through probate because ownership transfers immediately to the surviving owner(s) after a co-owner dies.
If you have questions regarding selling of your inherited house, give us a call. The professionals at Dallas Fast House Buyer will explain what should be done with the property so that it can be sold as easily and quickly as possible.