Then there is the financial cost of making necessary updates to attract buyers. Sometimes heirs must deal with liens or hidden problems in the house structure or systems (i.e. foundation, electric, plumbing, and gutters), and there may be disagreements among beneficiaries about the sale price, or whether to sell at all. Family members can drag their feet, distracted by images of growing up in the home, slowing them from taking action. It can be challenging to let it go. Everyone needs to take the time necessary to deal with the passing of a loved one. Yet, sellers in this situation need to take the appropriate steps to learn the market, educate themselves, and have a reliable real estate agent and tax attorney or Certified Public Accountant (CPA), as an empathetic party who is there to help. These are just some of the issues that are faced in dealing with an inherited house. This little book is meant to offer some proven tips to help owners of an inherited property approach the issues in a structured manner, with fewer problems and more satisfactory results for everyone concerned.
VARIOUS WAYS OF SELLING
No matter if you are a single heir or one of multiple heirs to the property, selling it as quickly as possible will save money, time, stress, and the tiring effort involved in the settlement process. There are several benefits to selling the inherited property. For example, in some cases, along with inheriting property, the heirs end up inheriting unexpected commitments and difficulties with legal and financial implications. For example, if it is discovered there are environmental concerns (meaning things like mold, asbestos or water intrusion) or the
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