An inheritance isn’t always a blessing. In many cases, it can turn out to be a heavy burden that you simply cannot carry. If you find yourself the new owner of a handsome estate after the death of a loved one or a relative, it can be difficult to process this news.
Naturally, you will be dealing with a grieving period and the loss of your loved one. But it is wise not to delay the matters of your estate inheritance for too long. If you delay these matters, you will find yourself incurring massive debt in terms of property taxes, or even a hefty mortgage payment. Therefore, estate management duties must commence without delays.
You need to decide whether you want to keep your inheritance or dispose of it. This requires you to complete some essential factors. Can you bear the maintenance and upkeep expenses of your inheritance? Does your newly inherited estate come with exuberantly high debt, mortgage tax, or water liens? Do you want to move into your new property? Or perhaps, do you want to rent it out for a passive income stream?
If you decide to sell off the property as you cannot bear the accompanying expenses, you will be dealing with a probate sale. If the inheritance is unwanted and comes with a plethora of costs, it is ideal for getting it off your hands before the costs spiral completely out of control.
A probate sale occurs when the owner of the property has passed away, and the property needs to be sold off. This refers to the process of liquidating the asset. If the asset has been passed onto you as inheritance, or you have been named as the Executor of the Will or the Guardian of the Estate, the process will be simpler and easier.
You will have to obtain permission from the court to undertake this process. As the Executor of the will or estate guardian, you will have to obtain permission, known as the Grant of Probate, to sell off the property and settle the outstanding taxes or debt of the deceased.
This comes with a lengthy and drawn-out process, not to mention expensive probate fees and inheritance tax dues. Selling a probate house itself is a lengthy process even after you obtain the Grant of Probate. You will have to undertake property valuations, inspections, and appraisals, and put the house on the market.
We can help you make the process simpler, shorter, and more convenient. At 718 Real Estate Advisors, we purchase houses as-is, without requiring the owners of the estate to perform any repairs or renovations. We ensure a short and quick sale in exchange for a prompt cash payment. If you want to get rid of an unwanted inheritance or speed up a probate sale, get in touch with our team right away.
Our services do not come with any hidden costs or additional fees.
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