When a house’s ownership is passed to someone new through a will it has to be probated. This means that the will has to be officially proven by a lawyer for the house’s ownership to be given to the person listed in the will.
However, sometimes people will want to sell an inherited house quickly and want to avoid probate. Below are some of the circumstances why a new owner may want to sell an inherited house.
1. Avoid Disputes Among Heirs
Oftentimes, it’s difficult for a house’s value to be spread equally amongst siblings, especially if there are several siblings or other people mentioned in the will.
If the person who received the house in the will has no true intention of living in it, it can be simpler on sibling relationships if the house is sold quickly. Each sibling can then receive an equal monetary value.
2. To Avoid Maintenance Costs
As with any home, the home you just inherited will have traditional maintenance costs associated with it. This means you’ll be responsible for funding repairs, utility bills, and property taxes. If this will make you the owner of two homes, then you might decide that the extra hassle, and cost, of owning the inherited home isn’t worth it.
3. Help Family Move on from Loss
Sorting through the legality of an estate is never a simple task. Yet, it becomes even more difficult after a family has experienced a loss.
As families are attempting to grieve and sort through their feelings, one of the last things they want to worry about is determining how the value of an inherited home should be distributed. For this reason, many grieving families decide to sell the inherited house quickly.
If you’re looking to avoid probate, sell an inherited house to Enlight Homebuyers in Utah. Give us a call at 1-800-655-8322 today and we can discuss all of your options. We look forward to working with you!