We buy houses in Miami Florida. We are your local Miami FL home buyers, and we offer cash for houses in Miami FL. Selling an inherited house can be rife with emotional hazards, no matter where that house is. Stripping a home of its personal effects can feel akin to erasing the memory of the person or people who lived there. Maybe it was your childhood home or your parents’ retirement retreat.
Occasionally, emotions lead to anger. Siblings may argue about the best way to manage the sale of this house or maybe the house is not exactly a gem, and there is a feeling of resentment at being tasked with the burden of selling it. Regardless, most inheritors are left emotionally vulnerable when faced with this task.
In addition to the emotional aspect of selling an inherited home, there is the business side of the process. Marketing, home repairs, negotiations, clearing up any liens, and navigating the probate process can make even the most levelheaded person’s blood pressure rise. Here at Florida Cash Home Buyers, we have seen it all, and we have developed our own protocol for helping people through the procedure.
Our years of experience and the relationships we have developed in the Miami FL real estate industry perfectly poise us to offer you tips on selling your inherited home. Here are the most crucial things to know about probate and inherited property:
1. Understand the status of your inherited home in Miami
Verify ownership. Do your research and consult with a real estate attorney.
2. Make a plan for the Florida property
Determine your goal. If several of you have inherited this house, come to an agreement on the desired outcome – do you want to just be done with this, and walk away breaking even? Do you believe there is a profit to be made? How much? Who will handle the negotiations? Have you researched the market value of the home? Do you want to deal with home repairs and buyer demands or do you want someone to do this for you? Those are some of the questions that need to be asked and answered. And then take a second look at those answers – are they realistic? Have you hired a home inspector to objectively assess the home? Do you want a professional opinion on this at no cost to you?
3. Want to go on your own in Miami?
Then the next step to selling a home in probate in Miami FL is to start the actual probate process. Most counties allow for a summary probate – a simple process with less legal maneuvering, that can be done in a fairly short time (4-6 weeks). Sometimes, though, even summary probate can take months. There are many variables that come into play: how long the original homeowner has been deceased and which judge the matter falls to will influence the time frame.
4. Ready to sell the Miami FL house?
Have your executor petition the court for the “go-ahead” to do so. Make sure any sibling disputes are acknowledged with an “agree to disagree” inclusion. This is best handled with a professional. We can help you find a reputable real estate attorney for this sensitive matter.
5. Taxes: Yes, taxes in Florida.
Remember to factor these in when calculating any profit. The tax basis of your property is the house value on the date that the person who willed the house you died. The difference between the amount you realize from the sale and the value is the gain on which you owe the taxes.
Confusing enough? Call Florida Cash Home Buyers
We can explain it all to you and let you know what the numbers will work out to be.
If this all seems complicated, that’s because it is. But it doesn’t have to be. Here at Florida Cash Home Buyers we will always give you a fair deal and help you get as much value from your inherited house as possible.
Sell My House in Miami FL
You can sell your inherited Miami FL home fast. We buy houses in Florida every week, handle all repairs and updates, and rent or sell them to someone else looking for a great deal. If your local Miami FL house meets a few simple qualifications, we can buy your house.
If you think you need to sell your house in Florida fast, then you may need us. We at Florida Cash Home Buyers are local homebuyers in Miami FL, and we’re helping local homeowners have a quick and hassle-free sale. If your Miami FL house qualifies, we can make you a quick and fair cash offer. For more information or if you have any questions feel free to give us a call at (954) 519-7040 or fill out the online form and we will get in touch with you.