Selling the house to an investor may be the quickest way to tie up the loose ends and settle the estate once and for all.
We Buy Houses | Grand Prairie TX: When you lose a loved one it’s often difficult to deal with the business that must be handled. If there are more than one listed in the will that stand to inherit the proceeds of the estate, it can become even tougher to take care of business. In fact, the more people listed on the will, the more complicated it will be. This is especially true if there are any property related squabbles among the siblings or others that will inherit anything from the estate.
It isn’t something anyone likes to think about, but the truth is that some families just plain don’t get along. When a family dies and there is money to be divided, it can become next to impossible to satisfy everyone on the list in a graceful manner. Where there is real property involved, it’s highly unlikely that a sibling will want to stay in the home because that means the others would need to be compensated for their share of the property value. The most common scenario, then, is for the property to go up for sale so the proceeds can be added to the total value of the estate and dispersed as appropriate.
“An investor can do a quick purchase and the proceeds will be available within a week or two.”
This makes it almost universal, then, that inherited property must be sold to satisfy the fair distribution of the assets of the estate. When an estate is involved, there is often a desire to get the house sold quickly so the estate can be settled without further adieu. It’s especially important to get it done quickly when the death was particularly difficult or stressful on the survivors. Selling the house to an investor may be the quickest way to tie up the loose ends and settle the estate once and for all. An investor can do a quick purchase and the proceeds will be available within a week or two. Encumbrances will be looked for and mortgage loans that are owed on the house if any.
Once the bills for the house are paid off, the family can take the remaining money and the executor of the estate will settle it with the survivors listed in the will according to the directives left by the deceased. A house can be sold in the traditional way when it is part of an estate settlement, but in today’s market that can be a seriously delaying factor in the final disbursement by the executor appointed to handle the affairs.
Filed under: House Selling