My inheritance includes a house in Santa Fe I can't possibly keep. I Need to know how to sell an inherited property. What do I do?
There are several answers to this question. One of the most common ways people acquire houses is through inheritance. The simple answer is to sell it, but selling isn't always straightforward.
• It's usually not just one person's house. It is often passed on to siblings.
• As soon as people inherit a house, they also inherit all the expenses that go along with it. Once the house you inherit is yours, you inherit the bills for repairs, property taxes, and anything else that goes with it. Those costs don't go away until the house is sold. There are many reasons people can't sell their home fast when it's inherited.
• The house is ugly-that nasty shingle siding. Dad never replaced is now yours!
• That shag carpet leftover from the 1970s is still there, and no buyer will set foot inside until it's gone!
• Those outdated bathrooms are driving buyer after buyer away!
If you ask a traditional real estate agent, you'll be told to upgrade or fix things before they can sell them. So you wait for the buyer to pick a contractor, that's if you're lucky enough to get a buyer on the hook, or you have to pay upfront for the work, which is never cheap. You can't take any chances, or you'll be stuck with the house that much longer. Of course, if you're a person whose inheritance includes a home, you could sell the house as-is, which means you'll sell for less than the ideal market price, but that's not the problem. The problem with selling a home as-is through a real estate agent is that you'll still have to pay a sizable commission and closing costs even if you're not getting top dollar. Plus, the transaction through a traditional broker always takes a long time.
If you're looking to sell your house fast, I'd like to make an offer on your inherited house. Don't forget that you won't have to pay fees or real estate commissions. What that means to you is approximately $3,000 to $30,000+ in savings. We are a quick cash home buyer and aim to make the process painless and easy.
Your home may need to go through the probate process as well.
In New Mexico, probate is the legal process of administering a person's estate after death. The purpose of probate is to identify and collect the deceased person's assets, pay their debts and taxes, and distribute the remaining assets to their beneficiaries or heirs.
Here is a general overview of the probate process in New Mexico:
The probate process can be complex and may take several months or even years to complete, depending on the size and complexity of the estate. Therefore, seeking legal advice is essential if you are involved in a probate proceeding in New Mexico.
We are here to help and can guide you through the steps necessary to get through probate and, ultimately, get your home sold. So give Leland Titus a call today.
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