Selling an inherited home is not an easy task. Inherited Homes in Georgia aren’t any easier, or harder, than anywhere else. There is always an emotional toll on preparing a loved one’s property for sale. Many times it involves depersonalization of rooms and removing personal belongings. There’s also costs associated with marketing the property in order to attract potential buyers. Generally, heirs deal with the high costs of liens and other unforeseen issues. There’s also a potential for disagreements between heirs. Below there are a few recommendations for making this process easier for anyone involved.
First step we recommend is to get some professional advice. You may not know the status the property is in currently. You may need assisted confirming ownership. Next, you need to begin the probate process in Atlanta. Most counties allow for a summary probate. A Summary Probate is a shortened, simpler process that involves less steps in the legal process. Once your property passes the probate process in Atlanta, you can then place it on the market. The tax basis of your property is determined by the value of the property on the date that the person who willed the property died. The difference between this amount and the amount you make upon the sale of the property is the gain by which you owe the taxes.
Once you decide you’re ready to sell the property in Atlanta, you should inform the executor to petition the court in order to proceed with the sale. Problems can arise when siblings have different views on how this process should be completed. It is a good idea to involve an estate lawyer at this point. It is a good idea to have an uninterested third party play intermediary to avoid potential issues. It’s important to determine if there are any repairs needed for any property, as well as remove any personal belongings that may remain. Although it is possible to sell a home in Atlanta “as is”, you may be forced to a lower price depending on the cost of repairs.
At Arbor View Home Buyers, we’re dedicated to providing the best possible solutions at the best possible price. We’ll give you our best cash offer on the spot. No multiple showings. No repairs. No headaches. We’ve helped tons of homeowners through the probate process, and we’re ready to help you. Contact us today to learn more about our process, and what kind of offer you can expect.