103. What You Need to Do to Sell An Inherited Home in Jacksonville FL

We buy houses in Jacksonville FLWe buy houses in Jacksonville Florida. Selling an inherited property seems straightforward, but it’s usually not. All kinds of problems can arise during the process. Did the original property owner leave a will? Has anyone kept up with the expenses? What about taxes?

Trying to prepare a house for sale after the death of a loved one can be difficult, so keep reading to learn about what you need to know to sell an inherited property. We are your local Jacksonville FL home buyers and we offer cash for houses in Jacksonville FL.

Who Does the House Really Belong To?

If your parents wrote a will of inheritance, this step is really easy. Unfortunately, many times parents aren’t prepared when they pass away, so figuring out who actually owns the house can be tricky.

You can’t sell the property until it has a clear owner.

If the original property owners left a will, the executor has the ability to distribute the assets, which includes the home. If your parents left the property in a trust, the trustee is the one who distributes the real estate.

It gets a little more difficult when multiple siblings inherit the property from their parents. In this case, often times one sibling has the overall authority to handle the property.

In some cases, none of these options are set up. This can make the matter of inheritance unclear, emotional, and argumentative. Before you can sell the property, you must resolve all title issues.

Prepare the Inherited Property for Sale

To prepare an inherited home for sale, you must make sure any payments are up to date. For example, you might need to pay the property taxes, the cost of utilities, etc. You should also get an insurance plan for a vacant home to protect the property from liabilities.

Part of this process is also getting the home itself ready for the market. That means you should make any needed repairs, maintain the lawn and other yard work, and empty all the possessions out of the house.

Getting an inherited home ready to sell can be overwhelming, but it’s important to ensure the property is protected and taken care of.

Set a Fair Price

Get the home appraised and set it at a realistic price. But don’t expect to get what you’re asking for.

It’s a good idea to set the price a little higher than what you want. That way you have some wiggle room to negotiate. This doesn’t mean you should set the price high. Anything too high will turn buyers away.

Don’t accept the first offer, especially if it’s way below your asking price. Remember, you want to get a fair price for the property. It’s okay to wait for a higher offer.

Be Prepared for Taxes

Inherited homes aren’t viable for home sales tax exclusion.

But if you own a house for two of the previous five years, you can still benefit from this exclusion. You may want to live in the house for two years before you sell, but many people just sell their inherited house as soon as possible.

Know What to Expect During the Process

The process of selling an inherited property might seem simple, but it doesn’t often go smoothly. You should expect some bumps along the way, both with the house, the stress, and the rest of your family.

Some of the problems you might run into include undiscovered wills, unknown liens, missing heirs, etc. But be patient. Dealing with a property after losing a loved one is hard. No matter how stressful it seems, remember the people around you probably have good intentions.

Need to sell your inherited house fast? Take a look at how we can help.

Sell My House in Jacksonville FL

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 Jacksonville FL, and we’re helping local homeowners have a quick and hassle-free sale. If your Jacksonville 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.

Omer Reiner

Omer Reiner is one of the owners of Florida Cash Home Buyers. He has been featured on many online publications over the years as he has extensive knowledge and expertise of the Florida Real Estate market.

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