When your parents or grandparents die and their estate is going through probate, you may be facing a situation where you need to sell their home to pay off debts. Many families decide to sell the home of their deceased loved ones because they have no need to keep it or can’t afford the repairs, maintenance, or property taxes. While you may be ready to sell the house during the probate process, getting it sold can isn’t always an easy process.
Finding the Right Buyer
One of the biggest challenges of selling a house in probate is finding a buyer. Often homes are outdated and in need of repairs if the previous owner was older or unable to stay on top of maintenance. The carpet may be well overdue for replacement, or the roof may need extensive repairs. Most buyers typically are not motivated to take on a project house or fixer-upper. It can be extremely difficult to get a buyer who is willing to buy the house as-is.
Financing can be another hurdle. Most buyers don’t have the available cash to pay for a home and require the use of a lender. Lenders are reluctant to approve a loan for a home in probate or for one that needs extensive repairs.
Navigating the Probate Process
Although you may wish to sell your house, you may need to get approval from the court to proceed. The judge may require you to submit any offer you accept before the transaction can proceed. A hearing will be a scheduled, and the offer presented. If accepted, you will be able to continue with the sale, but the process can add 30 to 45 days or more onto the closing date.
While selling your inherited home during probate can be difficult and time-consuming, it’s not impossible. A cash buyer doesn’t need lender approval, and they won’t require you to make repairs before selling. They are familiar with the requirements of probate and won’t mind waiting for any court approval that is necessary. Because they have bought probate houses in the past, they can even make the process go more smoothly by taking care of much of the paperwork.
Want to Sell Your House Fast in Montgomery, Texas?
Brisea Properties serves home sellers in Montgomery, TX, and surrounding areas. Not everyone can wait weeks or months to sell their home through the traditional real estate market. And not everyone has the time or resources to ready a home that’s in disrepair and get in selling condition. Whatever your circumstances Brisea Properties is here to help. We can buy your house fast and get you cash in a matter of days.
Learn more about how we can help @ www.briseaproperties.com
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