Selling an inherited home in Virginia is not as easy as people think! Read on to learn how to sell a house you inherited in Chesapeake Virginia…
Firstly, there is always that emotional part of preparing a loved one’s house to be ready for sale – which most likely includes depersonalizing his/her rooms and also clearing out all the belongings… The heirs needs to decide what to do with all the belongings. And guess what, there will be arguments probably, between the heirs. This is normal, as many people are involved, that many differences in opinions will probably surface. Then there is cost of marketing the house on the market for sale. At a bare minimum, there is the cost of time.
Sometimes, unknown liens will surface. Guess who needs to deal with them – the heirs. We know, that would probably be another reason for disagreements. You can at least master the skill to “agree to disagree” when needed.
Because of all these possible complications, we at Coastal Edge Homebuyers have put together some important points to help you get prepared and navigate the landscape of selling an inherited house in Chesapeake
Making the probate process go smoothly
Get some advice
In the beginning, read about this topic online, get some advise from friends and family, then, more importantly, go to a real estate attorney. You need to understand the current condition of the house and how it affects the possible selling price. You need to verify the ownership of the house too through the proper documentation. The real estate attorney will help. And completely utilize this site too of course for some guidance, or just pick up the phone and call us at +1 (757) 414-7117. We can also give you a fair and honest offer on your inherited local Chesapeake house, if it qualifies. Fill out the form here to get started.
Next Step: Begin the probate process in Chesapeake
Before you begin the process the sell the house, it should go through a probate process. This is not a complicated process, because it does not involve super long legal proceedings. Once the house has passed through the probate process, then you can sell it in Chesapeake.
What do you owe taxes on? Answer: the difference between the amount you sell the house for minus the value of the house as determined at the time of death of the person who willed it to you.
How to sell a house you inherited in Chesapeake
Agreeing to sell
So, you need to get all the heirs together and decide that you want to sell the house in Chesapeake. There has to be agreement on this. Believe us, selling is probably the best option, since fixing and flipping requires a lot of coordination, dealing with contractors, putting money together to repairs the house, months of prep work, etc. Again, you will need to find a way to agree with all heirs. Everyone must be on the same page. At this stage, you will also need to involve the estate attorney.
Preparing to sell
Selling an older house that belonged to an elderly person is not often in the best/most current order. There will be things that are outdated. You need to account for that before you can determine the price of the house you want to sell in Chesapeake. Sometimes people loo at those websites and reference what their house should be worth. Well, the websites are just a starting point, but they are not accurate. Ask yourself, when was the last time someone from that website actually in your house to evaluate its condition? Answer: never. The online sources use AI/algorithms but they are not close to reality. Someone like our specialists at Coastal Edge Homebuyers can help you determine the real value of the house before it’s rehabbed.
Here at Coastal Edge Homebuyers, we’ll always give you a fair and square offer that is true to the current condition of the house, because we will see it with you and help you get as much value from your inherited house as possible. We always buy local houses in Chesapeake, repair them up and sell them to someone else looking for a house.
If your local Chesapeake house meets a few simple qualifications, we can buy your house fast.