Trying to sell an inherited house in UT is not quite as simple as many think! Keep reading to find out how to sell a home you inherited in Salt Lake City UT…
To start, it will always be emotional getting a loved one’s home prepared for a sale. This will include clearing out their belongings which is an act of depersonalizing the home… This is followed by the marketing costs in order to find potential buyers.
Frequently, heirs end up having to handle unexpected costs like liens and other problems. Disagreements often result amongst the family.
For these reasons, we at Property Seller Solutions have put together these few pointers to help guide you if you should happen to find yourself in such a situation. Here are some tips on how to sell a home you inherited in Salt Lake City without having to worry.
Helping the probate process go smoothly
Seek out advice
To begin the process, you should seek out some professional advice. You’ll need to know for sure the legal status of the property. Ensure that you, in fact, have ownership. Find a real estate attorney who can give you advice. Get in touch with other experts, too. And, make sure to use this website, as well! We’re also able to offer you a fair price for your local inherited Salt Lake City home if it meets our requirements. Fill out the quick form to get started.
Next Step: Start the Salt Lake City probate process
Prior to starting the process of selling, your inherited home must go through probate. Many localities allow what’s called a summary probate – which refers to a simplified probate process taking a shorter time and less legal proceedings. After your home completes the Salt Lake City probate process, you can go on to sell it.
The tax on your inherited home is based on the value it possessed as of the date the person who willed it to you passed away. When you calculate the difference between what you get from the sale and the previous value you will find your gain, which is what you owe taxes on.
How to sell a Salt Lake City home you inherited
Deciding and agreeing to sell
When you decide you’re prepared to sell your home in Salt Lake City, you can have the executor petition the court to attain the necessary “okay” signal to proceed. Problems can, and usually do, occur when family members disagree about selling the inherited home – some may want to sell but others not. When this occurs, it’s wise to involve your estate lawyer.
Preparing for the sale
If the home had belonged to an elderly family member, it’s likely that it may require updating and some repairs before it can be sold. You’ll need to get rid of everything as well. You can opt to get an inspector to help you find issues to fix. Even though you can sell a Salt Lake City property “as is”, you may have to take a lower dollar amount for it – this is especially true if it requires much cleaning or repairs.
However, here at Property Seller Solutions, we’ll always offer you a fair price and try and help you get as much for your inherited home as possible. We help people looking for great homes by buying local Salt Lake City homes, fixing them up, and then either renting them or selling them.
If you have a Salt Lake City home that meets some basic requirements, we can buy your property fast.
You can fill out the simple form or pick up the phone and call us anytime at (801) 876-1036