Selling inherited property
There are a handful of ways you can sell us the house or property you are inheriting.
We buy property that is going through probate.
If your relative left a will or died without one, a court will typically oversee the administration of your relative’s estate through a formal legal process called “probate.” Real estate is sometimes sold during the probate process. Typically, the court will appoint an administrator who has authority to sell your relative’s property. Usually, the court must approve the purchase and the purchase price must be within a certain percentage of the fair market value of the property. A real estate appraiser, hired by the administrator, typically determines the fair market value of the property. After the house is sold, the proceeds of the sale will be distributed to heirs. Josh and Elina have the knowledge and experience to work with estate administrators to buy the property and have the patience and flexibility to wait for court approval and assist the administrators with the sale.
We buy property directly from trustees.
Josh and Elina work with trustees to negotiate a fair purchase price that will be acceptable to the beneficiaries. While many trustees choose to list their properties on the MLS, one of the advantages of selling trust property to Josh and Elina is that they can buy it “as is” and can take care of removing and donating to charity any personal property left behind. This saves the trustees time and money as they do not need to clean or repair the property.
We can make fair offers to beneficiaries who want to sell inherited property.
We buy inherited property directly from heirs who have inherited the property. This typically happens when administration of a deceased person’s estate is complete and the property has been distributed to the heirs. It can also happen when the deceased person designates a transfer on death beneficiary for their property via a transfer on death deed, or if a trustee of a person’s trust distributes property to the designated beneficiaries. In all these situations, the seller (who is an heir or beneficiary) is the owner of the property and is on the title to the property. Frequently, a single house passes to more than one person. That is, you may end up co-owning property with relatives or friends of your deceased relative who you have never met before, who live in other states, etc. All co-owners typically share responsibility for paying taxes and maintaining the property. Josh and Elina have bought inherited property with multiple owners and are skilled at navigating tricky family dynamics.
Disclaimer: The above is solely intended for informational purposes and in no way constitutes legal advice or specific recommendations.
