The probate process involving a home in Georgia is not as easy as people think! Read on to learn how to sell a house you inherited in Hawkinsville…
Inheriting a house is often a bittersweet experience. While it can be an unexpected gift, it also comes with a lot of responsibilities, such as paying off liens and other issues. In addition, you may find yourself having to sell the house in order to divide the inheritance between siblings or heirs.
However, the process of selling an inherited house in Hawkinsville, Georgia, can be a bit complicated due to the Georgia probate process. Probate is the legal process through which the court determines how to distribute the assets of a deceased person. Here are some tips on how to sell a house you inherited in Hawkinsville without having to sweat much.
Making the probate process go smoothly
1. Get some advice
The first step is to seek professional advice from a real estate attorney. They will help you understand the status of the house, verify your ownership, and guide you through the legal process. You should also get information from other experts, and utilize online resources to understand the process better. We have included some link to other recourses in this article. We can also refer you to attorneys and probate specialists. Fill out the form here to get started.
2. Next Step: Begin the probate process in Hawkinsville
Before you can sell the house, it must go through the probate process. The probate process in Hawkinsville, Georgia is not as complicated as in other states, as they allow for a summary probate, which is a simple process that takes a short time and involves fewer legal procedures. If the deceased love one had a completed will, this will make it even easier. Once the probate process is complete, you can then put the house on the market. You may want to compare listing the house on the open market vs. selling the house to a local direct buyer.
3. Tax consideration
The tax basis of your property is the house value when the house was originally purchased. On the date that the person who willed you the property died, the tax basis of the house changes to the new market value . The difference between the amount you realize from the sale of the house and the new tax basis is basically the gain (or loss) on which you owe taxes.
How to sell a house you inherited in Hawkinsville
1. Agreeing to sell the house in Probate
If you are ready to sell the house in Hawkinsville, you can inform the executor to petition the court to proceed with the sale. Problems will always arise when siblings who share the inheritance have different views – for instance some may want to sell the house while others may not be on board with that idea. If and when this happens, it is best to “agree to disagree”. It is also important to involve your estate lawyer in this stage.
2. Preparing the house (and you) to sell
There will be quite a bit to do in preparing the house to sell. A house that belonged to an elderly person may require repairs and a bit of updating before you can put it on sale. You will need to get rid of everything! You can choose to hire an inspector to note down potential issues and recommend possible repairs. Although you can sell a home in Hawkinsville “as is” you may be forced to accept a lower price, especially if your house requires extensive repairs or cleaning.
Here at Real Estate Problem Solver however, we will always give you a fair deal and help you get as much value from your inherited house as possible. We often times buy local houses in Hawkinsville, repair and fix them up and either rent them out or sell them to someone else looking for a great deal.
If your local Hawkinsville house meets a few simple qualifications, we can buy your house fast.
You can fill out the form or pick up the phone and give us a ring anytime at (478) 273-0062
Here are other related articles:
- Relocating and need to sell my house
- Sell your inherited house yourself
- Use a real estate agent to sell your house
- Sell your inherited house with an auction