So, you inherited a house. Now what? If you have decided to not live in the property, or rent the property, then your only other option is to sell the property. Selling a home by inheritance, typically, means that the person that owned the property is no longer living. Therefore, this complicates the sale. In many cases, the property was inherited by more than one person. For example, instead of one person inheriting a property, instead, several siblings may inherit the home of a parent that has passed. In this case, with more than one party, it is common for difficulties to arise when survivors are trying to come to agreement on decisions that need to be made to handle the home. This is where probate comes into play.
Probate is the legal process that designates the rules of how the deceased person’s assets are passed to their heirs. The probate process can be lengthy, confusing, and, typically, it is costly. In the situation of inheritance and probate, it is suggested to consider seeking the help of someone that understands the process. At Real Estate CPR, we are educated and experienced in the realm of buying inherited homes, and homes in the probate process.