Steps to Take When Selling an Inherited Home


If you were given some property after the death of a loved one, then you may be wondering what to do. Do I sell my inherited house? Rent it out? Move into it myself? Renting out may leave you searching the Web on how to evict non paying renters, and moving in yourself can be a feat, as well.

If you are like many, you want the property out of your name and the burden off of your shoulders. Are you asking yourself, How do I sell my inherited house? Well, first things first…

Clear out the Belongings

“I’m ready to sell my home quick…” This isn’t an uncommon thought as most people want to get this process over and done with as soon as possible. But first, go through the home and gather any belongings that may be sentimental. Get them to the right people, then consider holding a yard or estate sale for all the rest of the things.

Once the property is cleared out, it will be easier to stage for future showings.

Go Through the Will

Make sure that you and any other relatives involved understand the wishes stated in the will, and determine who exactly is legally responsible for the property. It is not uncommon for missing family members to come out of the woodwork and suggest that they have rights to certain assets.

By making certain you know who has legal ownership over what, you could save a lot of stress and hassle should a long-lost relative suddenly come back into the picture.

Hire an Appraiser and Realtor

Get the house appraised, so you know exactly what to ask for, then hire a knowledgeable realtor who knows the market and neighborhood. Getting an expert’s insight on the situation could save you a lot of annoyance down the line, and it will help the home sell quicker, too.

Make sure you get the right team on the job by asking if they have done this type of transaction before. A simple, “Can you sell my inherited house?” at the beginning of the conversation can get you started off right, so you know you have the right person on the job.

You will be expected to make payments for the mortgage and for any utility costs until the home sells, so prepare for that. A typical home is on the market for a few weeks. Can’t afford this? Tell the realtor, “I need to sell my house fast!” They will offer suggestions to get the process moving. Need to stop a foreclosure? They can help with that, too.

List a fair price, and be realistic about what you might get out of the transaction. Then, be ready to split the assets up evenly, as requested in the will.

Get started soon, and in no time the weight will be lifted. Good luck!