Selling an inherited home in Stockton is not as easy as people think! Read on to learn how to sell a house you inherited in Stockton, CA…
The decision to sell a house that you inherited can be overwhelming for everyone involved. There are so many things to consider. The assets of the estate, the ongoing cost to maintain the house, mortgages, insurance, property taxes, the condition of the house, the proximity of the heirs to the house, and finally the relationship of the heirs to each other.
The family dynamic is often so fragile that even the simplest decisions can cause disagreements. One thing is for certain, our loved ones never intended the house that they lived in and worked hard for to become a burden.
Maybe its just human nature, but the thought of having to go through a loved ones lifetime of memories to be sorted and distributed to family members is ominous. Everyone reacts to the grieving process differently and as such emotions are heightened and judgement is sometimes lacking.
Then there is always that emotional merry-go-round in preparing a loved one’s house ready for sale – which most likely includes depersonalizing the rooms and also clearing out all the belongings… Then there is the cost of everything; 1) mortgage and other ongoing household expenses, 2) marketing the house in order to attract potential buyers, 3) Probate and 4) how to sell a house that you have inherited.
Usually heirs get to deal with the high costs of liens and other issues that may exist like code violations and repairs and improvements. Consequently, disagreements may arise as the estate has financial issues to deal with.
Here are a few tips on how to sell a house you inherited in Stockton, without having to sweat much.
Making the probate process go smoothly
Get some advice
The first step you should take is to get some professional advice. You must understand the status your house is in. Make sure that you verify your ownership. Has probate occurred? Are there provisions within the estate to pay for a probate? Seek advice from an attorney. Get information from other experts too. And completely utilize this site as a tool as well. We would be happy to give you a fair market offer to purchase your inherited Stockton house.
Next Step: Begin the probate process in Stockton
Before you embark on the selling process, your house must go through a probate. Most counties allow for a summary probate – which is just a simple process that takes a very short time and involves less legal processes. Once your house passes the probate process in Stockton, you can then put it on the market.
The tax basis of your property is the house value on the date that the person who willed it to you died. The difference between the amount you realize from the sale and the value is basically the gain on which you owe the taxes.
How to sell a house you inherited in Stockton
Agreeing to sell
If you are ready to sell your house in Stockton, you can inform the executor to petition the court in order to get the “go ahead” sign and proceed with the sale from the there. Problems always arise when siblings who share the inheritance have different views – for instance others may want to sell the house while others may not be ready for the idea. If and when this happens to be the case, it is important to “disagree to agree”. It is also important to involve your estate lawyer in this stage.
Preparing to sell
A house that belonged to an elderly person may require several repairs and a bit of updating before you can put it on the market for sale. You will need to get rid of everything! You can choose to hire an inspector to identify potential issues and recommend possible repairs. Although you can sell a home in Stockton “as is” you may be forced to accept a lower price, especially if your house requires extensive repairs or cleaning.
Here at Westbrook REI however, we will always give you a fair market offer and help you get as much value from your inherited house as possible. We often times buy local houses in Stockton, repair and fix them up and either rent them out or sell them to someone else looking for a great deal.
If your local Stockton house meets a few simple qualifications, we can buy your house fast.
At “Westbrook REI” and “I Buy Houses Stockton“, we are the best at what we do because we work at it every day. We understand that a commitment to customer and a commitment to our business only happens with hard work. We have years of experience and a plan that we follow. We are a real company with real people that are committed to helping you achieve your goals.
We buy houses in Stockton, CA and its surrounding areas in Lodi, Woodbridge, Acampo, Lockeford, Linden, Ripon, Manteca, Modesto, Ceres, Tracy and Sacramento CA. If you need to sell your house fast in [market], call us… we’d love to make you a fair no-obligation no-hassle offer. Take it or leave it. You’ve got nothing to lose, but we’d love to earn your business. 🙂
You can fill out the form or pick up the phone and give us a call anytime at (209) 481-7780