If your parents or grandparents recently died and their estate is going through probate, you may be hoping to sell their home to pay off debts or for an inheritance. Most families decide to sell the home of their deceased loved ones because they have no need to keep it or can’t afford to keep it up. While it may seem logical to sell during the probate process, the task isn’t usually an easy one.
Finding a Buyer
One of the biggest challenges of selling a house in probate is finding a buyer. Many homes are outdated if the previous owner was older or unable to care for the upkeep. They may not have replaced the carpet or fixed the leaking roof. Buyers usually don’t want to take on a project house or fixer-upper. You may find it difficult to get a buyer who is willing to buy the home as-is.
Another issue is with financing. Most buyers don’t have the cash in hand to pay for their home, so they go to a lender. The lender may not approve a loan for a home in probate or for one that needs repairs.
Dealing with the Probate Process
Even if you want to sell your home, you may need to get approval from the court to proceed. The court may require you to submit any offer you accept to the judge before the transaction can proceed. A hearing is scheduled and the offer presented. If accepted, you can continue with the transaction, but this process can add 30 to 45 days or even longer 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.
If you want to sell your family home while going through probate, talk to Quick Home Offers. Let us help you through this difficult time with a no-hassle, stress-free sale. Contact us today for a no-obligation quote.