If someone you cared about deeply passed away and left you their house, you probably feel overwhelmed. On the one hand, you’re still grieving. On the other hand, you have to pull yourself together to decide what to do with that property. The options are to move in, rent it out or sell it. The only problem is that you have to decide quickly. Otherwise, the house will deteriorate, and the expenses will pile up. Thus, you should carefully consider the pros and cons of selling your inherited home. In the end, if you decide that selling is the best option, use these seven tips for selling an inherited house in Wilson, North Carolina.
No. 1 Make sure you are entitled to sell
First, you should know that selling an inherited house in Wilson, North Carolina is not as simple as selling your own. Since the house was not purchased in your name, you have to make sure you have the legal right to sell it. Specifically, you should examine the will carefully. Are you the sole beneficiary of the estate, or are there others? Because if there are multiple beneficiaries, they all have to agree to the sale. But in any case, it’s best to consult with a lawyer to avoid any confusion or unpleasant surprises.
No. 2 One of the most important tips for selling an inherited house is applying for probate
Just because the will states that you are the legal beneficiary of the property doesn’t mean you can sell it the next day. Usually, you have to go through a probate process. This is where the courts validate the will and approve the executor of the estate. When dealing with probate property, creditors also have to be notified. In case of any outstanding debts of the deceased, the estate will be used to settle those debts. Once everything is settled, the executor will transfer the deed and title to the rightful beneficiary. But be advised that all of this can take anywhere from a few months to a year. Or even more in complicated cases.
No. 3 Clear out the house
Before you can even think about placing the house on the market, you have to empty it. Now, if the deceased left you their home, this probably means that you were close. Therefore, going through their belongings can be a very emotional and painful process. But you don’t have to do it alone. Ask close friends and family members to help you with this.
Go through every room and decide what you want to keep, donate, or throw away. In what concerns the items you want to keep, you should decide what needs to go into storage. Because you probably won’t have room for everything in your home. A good tip here is to create a storage inventory list. If you put everything on paper, you won’t forget about it in the future.
No. 4 Request a home inspection
Once you clear out the house, it’s time for a home inspection. This is one of the essential tips for selling an inherited home in Wilson, North Carolina. A home inspection will help you determine the condition of the property. Because even if it looks good at first sight, there might be some significant hidden issues. And it’s best to know these things before placing the house on the market. Otherwise, buyers can use them to back out of a deal or negotiate a lower price. If the inspection finds some major issues, you can choose to fix them or sell your house in as-is condition. If you opt for the latter, you can sell it for cash to a house-buying company.
No. 5 Spruce up your inherited house in Wilson, NC for sale
Even if you’re selling your inherited house in Wilson, North Carolina as-is, you still have to clean it thoroughly before placing it on the market. However, if you want to increase its value, you should start with all the necessary repairs. Then, if your budget allows it, consider making some upgrades. But don’t worry if you can’t afford that. You can simply spruce up the house with a fresh coat of paint. This solution is very effective and cheap. Furthermore, don’t forget about staging. Potential buyers need to be able to envision themselves living in that house. So, make it look as inviting as possible.
No. 6 Price it right
The problem with pricing a property is that you need to find a balance between too high and too low. If you overprice it, you won’t find a buyer. If you underprice it, you’ll regret selling it for less than it’s worth. Thus, asking for an appraisal to determine the real property value would be best. Then, decide on a price that is a bit higher than what you would settle for. This way, you’ll have room to negotiate when the right buyer comes along.
No. 7 Don’t hesitate to ask for help
Selling an inherited house in Wilson, North Carolina is not easy. Therefore, you shouldn’t hesitate to ask for help when needed. You can consult with friends and family or hire experts. For instance, you should seek legal advice concerning the will and the probate. Afterward, you can hire movers to help empty the house. If you wish to do some repairs and upgrades, hiring an experienced contractor is highly recommended. And finally, when you’re ready to place the house on the market, you can hire a real estate agent to take care of everything for you. All these professionals can make the entire process much easier.
Dealing with the death of a loved one is never easy. It would help if you took your time to grieve and pull yourself together. However, you shouldn’t postpone dealing with the house you inherited in Wilson, North Carolina for too long. Otherwise, it can end up costing you more than it’s worth. If you decide to sell, you should use these seven tips for selling an inherited house. The entire process might seem overwhelming at first, but you’ll manage. And even if you don’t, you can always hire experts to help.