Inherited property can come in the form of: will, trust, or by deed. If the decedent has left you a property, or if they have left joint ownership for yourself and another, there are different steps which must be taken to get the property sold. Think of it this way. More often than not, keeping a home which has been left behind by a decedent is costly. It requires you to pay taxes annually, you have to maintain it, and there is always the possibility of theft or vandalism (especially if there is no one living in it). So, if you wish to avoid this, a superior method is to sell for cash.
Not only do we buy homes for cash, we do so quickly.
We will pay the fair market value of your property. We will pay you when you need to sell it. And, we are going to work with you, based upon the terms in the deed, will, or trust document. There are some instances which a property has to go through probate, and if this is the case, we can also assist you with the cash sale of the home. So, let’s see how you can sell a home which was left to you, depending on the manner in which it was left.
A trust is basically leaving you the property upon something happening.
Whether this be upon the decedent’s death, or if a special event occurs, only when this occurs, are you going to be the heir; prior to that, you are the heir apparent and can’t sell since you are not yet the owner. If you are left the property in the form of a trust, TX laws will have homestead rules, meaning you do have to go through probate. So, the property can only be sold upon being cleared by the court, the determination being made you are the sole heir, and homestead exemptions taking place in the court system.
Another manner in which you can be left property or a home is when it is deeded to you.
A deed is a legal document which is giving you ownership of the property. Until the decedent passes away you are the apparent, but when they pass away you become the remainder man. This means the property is yours. In such situations when property is deeded, you can avoid the probate process and legal battles. And, if it is at all possible, it is in your best interest to do so.
Not only will this allow you to sell your home quickly, it also ensures the highest value is going to be paid. It will be done quickly, you will avoid bickering of family members, and you will avoid running the risk of an individual attempting to contest the deeded property. If you choose this route, we are the premier buyers in the San Antonio, TX market to work with. Not only will we pay cash for your house, based on fair market value, we take it off your hands. You do not have to worry about taxes, maintenance, care, or doing work to the home. We will take it free and clear, we will pay you the cash value, and you are free to do with the funds as you please.
A third manner in which the property can be left behind to you is through a will.
A will is basically a document which lays out what is to be done with the decedent’s property when they die. So, the will can include the home, as well as other property they are going to leave behind for you when they pass away. With a will document, there is also the necessity to go through the probate court. Reason being is that the title has to be transferred to your name. It also has to be determined there are no issues with the property, with other owners, or with potential issues with the property’s Title. Once all of this has been cleared, you are free to do with the property as you choose.
When a document like a deed is written, the court is going to enforce it. And, you are going to go through probate, which is not only costly, but it is also likely to take a minimum of three to four months for the process to clear. And, often it does take quite a bit longer for the home to clear, as well as for other property to go through the process as it is named in a will. Since there is more than one person and more than one item in most wills, the court will take some time to interpret it, the language, and deem you are truly the sole heir for the property in question, prior to handing over the title free and clear. So, when this is what is left, and when the decedent has clearly laid out the terms in their will, more often than not you are going to have to go through probate in order to sell your house.
Should you keep the property?
Many people choose to keep the property they have been deeded or left in a will. However, think about the cost. Not only maintaining it, finding someone to rent it, and the tax implications, but also the hassle and headache which comes along with having another property to take care of. Especially if you already own a home, this can get messy, and it is very time consuming for you to take care of the property.
The solution? Sell your property to us.
In addition to paying cash, we take it free and clear. Any encumbrances on the property, we are going to take them so you don’t have to. We work quickly, we guarantee the highest offer, and we will work with any property you want to sell.