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How To Sell an Inherited Home

Over the next 4 decades Baby Boomers will inherit $27 trillion (that’s trillion with a T) in wealth, with a big chunk of that trillion coming from family real estate.

So it should come as no surprise that a lot of folks want to educate themselves on the sale of an inherited home. So how do you sell your inherited house? We’ll break it down. Here’s our 5-step guide to selling your newly inherited home:

1. Identify: Confirm who actually has claim to selling the inherited property right now.

First, you need to identify the heir of the property if you plan to sell an inherited house. This can be beyond tricky and believe us we have seen and heard it all. If Mom and Pop were prepared and wrote a will of inheritance, thank your lucky stars. However if Mom and Pop die without a valid will, and the deed to their property does not include joint tenancy with survivorship language, then issues may arise as to which persons have title to the inherited home. The property cannot be sold with clear title until the heirship issues are addressed and resolved.

This process can be complicated when there are many heirs, multiple marriages or several generations of people who died without wills. It becomes increasingly more difficult if the heirs won’t work together towards completing the process. Essentially, the more complicated the family story, the more involved the process can be.

At Home Helpers Group, our Title experts work directly with the Title Companies and communicate with family members to make the process as simple as possible. We prepare these documents at no cost to our sellers.

Many have resolved title issues and settled estates in quick and efficient manners by selling to Home Helpers Group.

It is best not to attempt to resolve heirship and Title issues on your own, without an attorney. If your loved one dies without a will, Home Helpers Group will work with the Title Company and a real estate attorney at no cost to you, ensuring title is clear before completing the sale and freeing you of any future liabilities. We pay cash and typically close on your home in 10 to 30 days depending on your situation.

2. Prepare: Make sure you have a vacant home insurance policy.

If all goes well a family member or presumed heir will take over maintenance of the property after the person passes. Maintenance may include obtaining a vacant home insurance policy to protect the estate from liabilities, keeping up with utilities, paying property taxes, maintaining lawn care and disposing of the contents of the house. Keeping up with the sale of an inherited home after someone dies can become an overwhelming task, but it’s critical to ensure a minimum of care is in place to protect the vacant home.

3. Get a fair price: Appraise your newly inherited home.

Sometimes the open market is the best answer but often times its best to sell to an investor.

Here are our top 5 reasons why it may be best for you to sell to an investor:

  1. Cash
  2. Speed of sale
  3. Sureness of sale closing
  4. Sell as is
  5. Convenience

4. Taxes: The man always collects.

The bad news: Unfortunately, home sale tax exclusions do NOT apply to inherited houses. Normally, if you own a house for two out of five previous years, you benefit from this tax exclusion. However, if you plan to live in the inherited house for two years, and then sell it, you can still benefit from this exclusion – but many people choose to sell their inherited house right away.

The good news: Those who inherit a house and sell it DO benefit from the stepped-up tax basis. Normally, proceeds are calculated using the house’s purchase price + home improvements made to the house. When the house is inherited, however, the tax basis is the fair market value at the time of the owner’s death. If the house appreciated dramatically, this prevents those who inherited the house from owing substantial taxes.

5. What to expect during the sale of an inherited home- Siblings, Emotions and Lawyers – Oh My!

If you inherit a house, hopefully the process of selling the inherited property will be simple and straightforward; however, as we mentioned above, oftentimes it isn’t. For example, title problems are a common issue that people need assistance with when they sell their house to a company such as Home Helpers Group. Some common title problems include:

  • Unknown liens
  • Illegal deeds
  • Missing heirs
  • Undiscovered will
  • Errors in public record

Not only are family members coping with the loss of a loved one, but even in best case scenarios, dealing with the estate left behind only adds to the stress. While family members are usually well-intentioned, they may not be as organized as you thought. When a house is inherited, sometimes unknown marriages and children are discovered, which can complicate title resolution.

If you inherit a house, ask yourself three questions. 1) Is there a will? 2) Do you have a family tree? and 3) Are there tax issues?

Remember: We are here to help. If you inherited a house and plan to sell, or are simply researching your options, call us now for a no-obligation offer on your house in 24 hours or less. We will work with you regarding your options and your situation.

Contact us for a free, no-risk quote within 24 hours.

Get a Quick Cash Offer    |    Call (559) 900-0023

SELL MY HOME FOR CASH IN CENTRAL VALLEY

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Why Choose Home Helpers Group?

  • Zero Fees to Sell Your House

  • Highest Off-Market Price

  • Sell As-Is. No Cleanup. No Repairs.

  • Close In As Little As 7 Days

  • No Closing Costs

SELL MY HOME FOR CASH IN CENTRAL VALLEY

A Better, Faster, & Easier Way To Sell Your Home For Cash. 100% Free. No Obligation.

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California’s Trusted house Buyer since 2013

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Melissa Hunnicutt
January 15, 2025

Angel was a pleasure to work with I give him 5 stars. His professionalism and knowledge of the process made me very comfortable. Angel you made this transaction so easy, and I appreciate everything you have done. I wish you the best in your future. And I definitely will recommend you to anyone I know wanting to sell a home.

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Gary Grills
January 15, 2025

5 stars for Angel. He was an absolute joy to work with. His professionalism and knowledge of the process was very much appreciated. He kept me informed and always kept me updated even when he was sick he still was available. Angel your the best and thank you again for everything.

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Terri Emmett
January 13, 2025

Angel was always very kind and helpful.

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goku25jason Gohan
January 7, 2025

Went with Home Helpers Group because they offered the best price for my home and were fair during the entire process. Angel was super helpful and very communicative throughout the entire process. Had a solar lease that Angel and his team were able to take care of. I got the $$ I needed and now will be able to move into my new home with some extra money in my pockets. Thank you Angel!

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Felicia Wallace
December 26, 2024

Homme Helpers Group is amazing! Angel helped the process go smoothly and quick! not to mention how communicative he is. His patience and information through the entire process was greatly appreciated. If I could give Angel and Home Helpers Group 10 stars I would.

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Carlos Obregon
December 20, 2024

I was looking to sell my house fast and wanted top dollar for it. I called HHG (home helpers group) and Alan did an awesome job. I sold and closed within days of me contacting them. I recommend them highly to help out

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Sabreen Brar
November 16, 2024

I had a great experience with this company, more specifically with Angel. He explained the process very easily and clearly to me and was responsive throughout the whole process. This company was true to their word and helped us close a chapter. If you are going this route, this is the best company in the area!

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Christina S
October 30, 2024

Selling the house was easy. Angel was quick and explained everything. Answered all of our questions and handled the solar company, too. Would definitely work with Angel and this company again.

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Leandro Serrano
October 30, 2024

Smooth transaction. Angel was informative, helpful, and efficient. He handled all the solar transfer. Would definitely use Angel and this company again.

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lawanda jones
October 25, 2024

Alan Ramirez He is a very professional guy helped us out a lot.Thank you so much.We appreciate it

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Amanda Pia
October 18, 2024

Their service was just what I needed to move on with my life. They were very friendly and quick.

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wade
October 17, 2024

Very professional, first class treatment all the way, agent angel was the best.

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James Albion
September 16, 2024

The entire experience was flawless, fast, and painless. Alan was absolutely perfect in every aspect. Home Helpers Group you guys are awesome !! We thank you very much!

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Sabrina Grays
August 15, 2024

Angel helped me with the process of selling my rental property. He was very responsive, respectful and attentive. Angel was also sensitive to me and my renters concerns. I would recommend Home Helpers Group.

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Tommy
July 10, 2024

My experience with Home Helpers Group was excellent. They were always courtius and polite. The negotiation process was easy and fair. We settled on a price right away closed escrow within a month. Angel and Claudia were great and made the whole process easy for me. If you are looking to sell a piece of property Home Helpers Group will make it happen for you quick and easy.

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Susana Hernandez
May 23, 2024

Alan Ramirez made selling my home easy and fast! He just did a quick walk in and we made a deal quick and fast. I save my time and money not having to pay a realtor to sell my property 😊 Best service ever i recommend him to anyone trying to sell there property thanks alot Alan your the best now time to celebrate 🎉

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Esperanza Delgado
May 23, 2024

Alan Ramirez was so fast in helping us sell our house stood in touch with us until.the end .Alan thank you for being there when we needed you for any questions we had your awesome .The house was sold fast no worries for us thank you Alan Ramirez

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Paolo Santi
April 10, 2024

It was a pleasure working with Home Helpers Group, they are very helpful and professional. Alan Ramirez was just great. He answered all the questions and didn’t pressure us to do anything. I would recommend them to all my family and friends. They gave us a good offer for our home, I am very happy! Thankyou ! Paolo.

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April 6, 2024

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Joseph Hernandez
March 8, 2024

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Priscilla Ramirez
March 8, 2024

Alan Ramirez from Home Helpers Group was wonderful he was very friendly helped us sell our house quick and easy we called you guys and he was there for us that same day. iI would recommend anyone selling to call him he is very responsive and punctual thanks Alan Ramirez for helping us with our sale you did an awesome job!!

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