What to do when you inherit a house: A step-by-step guide
There’s so much to think about in the wake of a loved one’s death: funeral expenses, wills and trusts, contacting creditors, the probate process, and what to do with any estate inheritance. It can be overwhelming, to say the least—and at a time when you just want to grieve at your own pace. Sometimes you wish someone would just give you a step-by-step guide of what to do at every juncture.
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Below is a preview of what you’ll learn in our guide.
At Wren Realty, we like to think of ourselves as hope when you need it most. We try to be more than just house flippers or wholesale buyers. We will go above and beyond to make sure selling your inherited property is as easy, painless and straightforward as possible.
We’ve created a guide of what to do when you inherit an estate, regardless of whether you’re liquidating the estate by trying to sell inherited property or keeping it to live in or rent out.
In our guide, ‘What to do when you inherit a house: A step-by-step guide,’ you’ll learn:
What to expect during the probate process
Probate is a confusing process that greatly affects the process of selling inherited property, and one that is unique to every person’s situation. The probate process will be affected by what documents your loved one has left—wills, trusts, beneficiary deeds, or nothing.
This guide will cover what to know about probate and how to work with the title company to sell your inherited house during the process.
How to navigate family disputes about what to do with the inheritance
Just because you’d like to sell your estate inheritance doesn’t mean your co-inheritors will agree. You’ll need to navigate how to best handle these family disputes in a positive manner, and know the process of selling inherited property owned by multiple beneficiaries.
We’ll cover what you need to know before you sell an inherited house owned by you and several family members.
What to know about transfer taxes, capital gains taxes, property taxes and debt
When you receive an estate inheritance, you also inherit the property taxes, mortgage, utility bills and debt of your loved one. First, you’ll need to dole out money to the tax man, credit card company and other debts your loved one might have. Then you can cash in on your estate inheritance.
We’ll guide you through what you need to do to ensure your taxes are paid and debts squared before selling inherited property.
Who to call, what paperwork to have ready and more
If you receive an estate inheritance, there are many hoops to jump through—calling the title and mortgage company, getting your paperwork in order, completing paperwork, etc., etc.
We’ll help you navigate through it all.
The loss of a loved one is difficult. You’ve got enough on your plate—let us help you through this. Download our step-by-step guide on what to do when you receive an estate inheritance by filling out the form below.