Selling an inherited home in Georgia is not as easy as people think! Read on to learn the reality behind the probate process in Savannah and how to sell a house you inherited in Savannah Georgia.
There are always emotions behind preparing a loved one’s house ready for sale. This tends to come from having to depersonalize his or her rooms and clearing out all the belongings. Then you may get the heavyweight on your shoulders when you realize the cost of marketing the house in order to attract potential buyers.
Unfortunately, it is all too common for heirs to have to deal with the high costs of liens and other issues. And it only gets worse when disagreements between family members may arise.
Therefore we at Cash Homes Savannah have compiled a few points that should help steer you in the right direction if you ever find yourself in such a dilemma. Here are a few tips on how to sell a house you inherited in Savannah, 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 and verify your ownership of the property. Seek advice from a real estate attorney in Savannah that specializes in probate. Get info from other experts too. We can also give you a fair deal for your inherited Savannah house if it qualifies. Fill out the form here to get started.
Next Step: Begin the probate process in Savannah
Before you embark on the selling process, your house must go through a probate. Most countries 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 Savannah, you can then put it on the market.
The tax basis of your inherited property is the house value on the date that the person passed away. The difference between the amount you realize from the sale and the value is basically the gain on which you owe the taxes. Here is a link to the IRS website talking about inheritance tax, and what you could be forced to pay.
How to sell a house you inherited in Savannah
Agreeing to sell
If you are ready to sell your house in Savannah, you can inform the executor to petition the court in order to get the “go ahead” signature and proceed with the sale from there. Problems always arise when siblings who share inheritance have different views. This is common when some may want to sell the house while others may not. 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 repairs and a bit of updating before you can put it on sale. If you are listing with a real estate agent, you may need to get rid of everything in the house. Buyers don’t want to deal with someone else’s stuff before they can move into their new home.
You can also choose to hire an inspector to note down potential issues and recommend possible repairs. Odds are that any potential buyer is going to want an inspection done on the property and use it as negotiation leverage. Although you can sell a home in Savannah “as is” you may be forced to accept a lower price, especially if your house requires extensive repairs or cleaning.
Here at Cash Homes Savannah however, we will always give you a fair deal and help you get as much value from your inherited house as possible. We often buy local houses in Savannah, repair and fix them up and either rent them out or sell them to someone else looking for a great deal.
If your house around Savannah meets a few simple qualifications, we can buy your house fast, as it is.