2 Ways to Selling Property After Probate
The probate process can be very tasking to the point that all parties involved, especially for the executor of the will. An executor would be more than happy to just breeze through the next phase of dividing the inheritance. Since most bequeathed assets involve real estate, most beneficiaries will likely agree to sell the property. Selling property after probate can be done in two ways. The first one is through real estate professionals and the second, through home investors like us at Probate Solutions Fl.
1.Selling Property After Probate to Real Estate Professionals
Even though the probate process is the most daunting part, the sale comes a very close second. This is true when selling property after probate through a real estate professional. Beneficiaries are tasked to make the property as appealing as any traditional listing would be. This means repairing broken windows, replacing locks that no longer work, patching up holes on the walls and floors, replacing the gutters, repainting the house and keeping the lawn at no more than ankle length. Since probate houses typically are old and have been ignored since the death of the owner, these tasks will cost a lot and require a lot of effort from the beneficiaries. It can be a big undertaking but they do not have a choice. No practical buyer will give an offer on a house that will cost more to repair than to buy.
These are not the only expenses the beneficiaries need to cover. They also need to pay the real estate professional and the lawyers who are setting up the transaction. Once the house is added to the listing, the sellers need to wait until an interested buyer will give an offer. This can take longer than six months and within that time, the sellers are expected to maintain the acceptable state of the house and pay the taxes it entails. Due to the mere fact that it is a probate house, the offer can be less than desired. Often the sellers have no choice but to accept it especially if there are no other offers coming in. The removal of the property from their names means that they can save themselves from further financial losses caused by its upkeep. Finally, after again paying for lawyer and transaction fees, they are no longer responsible for the house. If they had done their research, they could have saved themselves the trouble and sold the house to home investors.
2. Selling Property After Probate to Home Investors
Selling property after probate to investors is the easiest and fastest way to get rid of a house that can cause future financial losses. Here, the investors are the buyers. Sellers will no longer worry about the middle men such as real estate professionals, lawyers and irate government workers. Consequently, this also gets rid of the fees due to them. Home investors love to take on all the work to transfer the property to their company. They will help with the consistency of the documents and offer additional benefits for selling the property to them (such as lessening the funds needed for upkeep). The transaction will be fast and the best part is, they will buy the property “as is”. There is no need for any money-wasting repairs and restorations. The only thing the sellers need to do is canvas for the best investor who can give them the ideal price for the property.
If you are in Florida, speak with us at Probate Solutions FL. We love to help families find the best and easiest solution for them that are going through such difficult times. We can make you a free, fast, no obligation, cash offer to purchase your property and help guide you through the process. Contact us now.