We can help you sell an Inherited Property in Phoenix, Arizona
Say you have inherited a home in Arizona and want to sell it. You may find it more challenging than you think. The following are a few pointers that might help.
First, you have to prepare yourself for the emotional aspect of selling the home of someone you love. You will need to remove their personal items from the home and probably clear out belongings from their room. You have to think about marketing the house in a way that makes it attractive to buyers.
Typically, heirs have to sort out liens and other financial issues. This can cause disagreements between the heirs that might make ‘selling my inherited house‘ a challenge.
At Doug Hopkins, we buy houses Arizona. We have helped countless individuals sell homes that they have inherited. If you find yourself trying to navigate through this dilemma, there are a few things you should consider that might make selling a home in Phoenix easier.
Simplifying the Probate Process
- Talk to a Professional – Before you can sell the property, you need to know the status of the house. A real estate attorney and other experts can provide you with the information you need to help you verify your ownership. Our site is a great resource that we are happy to make available to you. If the home you have inherited qualifies, we are ready to make a fair deal. Click here to fill out a form that can get you started.
- Getting Started with Probate in Phoenix – Before you can think about selling the home, it will need to go through probate. Many counties allow for a summary probate. This is a simplified process that requires less legal red tape. Once the house you have inherited has gone through the probate process, it is ready to be put on the Phoenix market.
- Think about Taxes – The value of the house is determined by the value the home had when the person who passed it on to you died. The difference between what you sell the home for and the amount the house was appraised for at the time of the deceased individual’s death is the amount you will be taxed on.
2 Steps for Selling an Inherited Home in Phoenix
Coming to an Agreement with Siblings
If you are ready to put your Phoenix home on the market:
- Talk to the executor in order to get approval from the court.
- Once this is given, you can proceed with the sale.
Challenges arise when siblings who share the inheritance do not agree on what should be done with the home. Some may be ready to sell the house fast. while others may think that it is a bad idea. You may need to reach a point where you agree to disagree and use the services of an estate lawyer to come to an equitable decision.
Preparing to Sell the Home
An older home or a home that belonged to an elderly individual might need repairs or may need to be updated. You will also have the challenge of selling or disposing of old furniture and other items in the home.
An inspector can lay out what needs to be repaired. Another option is to sell the home as-is. You won’t get as much money, but you also will not be required to clean up the home or prepare the home.
At Doug Hopkins, we want to give you a fair deal. We want you to get the money you deserve for your inherited home. Part of our business is purchasing local homes that need repair and then fixing them up so that we can resell them or rent them out to other people.