Selling an inherited home in TX is not so easy! Read on to learn how to sell a house you inherited in McAllen TX…
In the first place, there is the emotional part of preparing our loved one’s house for sale – it may be very difficult to let go… Then we will have the cost of marketing the property in order to attract potential buyers. And family conflicts can complicate things further…
Usually heirs get to deal with liens, taxes, and there may be other issues that cause disagreements. Sometimes it is not easy to divide the property among several family members that have different opinions, needs and personal situations.
Therefore we at Dolfin RGV have compiled a few tips on how to sell a house you inherited in McAllen.
Making the probate process go smoothly
Get advice
The first step you should take is to get some professional advice. You must understand the status your house is in. Be proactive! Make sure that you verify ownership and check if property taxes have been paid . Make a title search to discover potential clouds on the title. Seek advice from a real estate attorney. Get the house appraised and inspected. Get input from other experts too. And completely utilize this site too of course. We can also give you a fair deal for your inherited local McAllen house if it qualifies. Fill out the form here to get started.
Next Step: Begin the probate process in McAllen
Before you embark on the selling process, your house must go through a probate. Most counties, including Hidalgo County, allow for a summary probate – which is just a simple process that takes a very short time and involves less legal processes. Certain requirements must be met. The Hidalgo County Probate Court is located in Edinburg, Texas so it may be worth to approach them and ask for advice about the probate process. Probate is a legal process that usually takes place in the county where the deceassed had lived.
Once your house passes the probate process in McAllen, you can then put it on the market.
Tax consideration
The tax basis of your property is the house value on the date that the person who willed you died. The difference between the amount you realize from the sale and the value is basically the gain on which you owe the taxes.
How to sell a house you inherited in McAllen
Agreeing to sell
If you are ready to sell your house in McAllen, you can inform the executor to petition the court in order to get the “go ahead” sign and proceed with the sale from the there. Problems always arise when siblings (and their significant others have their own opinion) who share the inheritance have different views – for instance some may want to sell the house while others may not agree. If and when this happens to be the case, it is important to “disagree to agree”. It is also important to involve your estate lawyer in this stage.
Preparing to sell
A house that belonged to an elderly person may require some updates and repairs before you can put it on the market. You will need to get rid of everything! You can choose to hire an inspector to find potential issues and recommend possible repairs. Although you can sell a home in McAllen “as is” you may be forced to accept a lower price, especially if your house requires extensive repairs or cleaning.
Here at Dolfin RGV however, we will always give you a fair deal and help you get as much value from your inherited house as possible. We often times buy local houses in McAllen, repair and fix them up and either rent them out or sell them to a new homeowner.
If your local McAllen house meets a few simple qualifications, we can buy your house fast.