People often leave their residential properties to their loved ones upon their death. An inherited home is usually the biggest asset within an estate, but its beneficiaries don’t always want it. If the house has no legal protection and must go through probate, you might ask, “Can you sell a house in probate?”
If you’re dealing with a similar situation and searching online for ways to “sell my house fast in Powhatan, VA,” a cash home sale may be your solution. Our experts at The Red Door Guys explain what you can do about an unwanted inherited home in probate.
What Is Probate Property?
Probate property refers to the property of a deceased person. When a person passes away, their assets will be distributed to the established beneficiaries. However, without a will or trust in place, the assets, including houses, must go through the probate court to determine their distribution.
Does a House Have to Go Through the Probate Process?
Not every asset requires probate. Suppose a married couple has joint ownership of a house, but one person passes away. In that case, the surviving spouse automatically becomes the sole owner, and the home won’t have to go through probate.
Homes in trusts also don’t have to go through probate. Under these circumstances, the trustee may sell or transfer the house under the trust’s terms. Probate is usually for properties under the sole ownership of a deceased person, regardless of whether they had a will.
Is Selling a Home in Probate Possible?
Can you sell a house in probate? It’s possible under specific conditions and legal processes. In most cases, probate is a legal requirement to ensure the estate can settle the deceased’s debts and distribute the inheritance to beneficiaries.
If you’re the estate executor, you have several options if you’re ready to sell an inherited property in probate. Options include:
- Taking the traditional home-selling route by listing the property with a realtor
- Selling the home to a house flipper at a discounted rate
- Working with a cash home buyer who can take the house in as-is condition and make you a fair cash offer without charging fees or commissions
What Do You Need To Sell a House in Probate?
To sell a house in probate, you need Letters of Administration, a document showing probate court approval to put the property up for sale. You also need a property appraisal to determine the house’s value. Hiring an attorney who knows how probate works is best.
Sell an Unwanted Inherited House Fast With The Red Door Guys
Can you sell a house in probate? You can, although it can be a challenging process if you work with a real estate agent.
If you want to offload an inherited house fast, consider a cash home sale with The Red Door Guys in Powhatan, Virginia. As a local cash home buyer, we streamline the home sales process by handling repairs, renovations, and paperwork, so you don’t have to. You can close on your property in as little as seven days without paying fees or commissions.
Call (804) 395-7355 today to get your fair cash offer.
