Inheriting a home in Florida? Learn how to sell it fast—without probate, repairs, or stress—with help from the trusted team at Camarotti Homes.
Life has its way of bringing gifts amidst troubling times, and one great example is inheritance. While suddenly owning a property might sound amazing, especially if you've never owned a home. Still, there will be times when it's better selling inherited property, especially if you don't have the means and time to take care of it.
So, although it may seem reasonable to inherit a home, you are now instantly liable for all of its expenses, such as maintenance, utility bills, insurance, property taxes, and mortgage payments. If all that sounds stressful and complicated, then you should go on and sell your home. But even if you want to sell your house as-is, how do you do it?
Suppose you've been thinking about "How can I sell my inherited home?". In that case, you should first determine whether the inherited home can be sold without probate. According to one study, many court cases are dedicated to probate court. However, what is Probate?
Probate is the legal process of validating a deceased's will, paying all their debts, and distributing what's left to the heirs of the deceased. While generally, the law in Florida requires. However, there are instances when you can sell your home fast without probate, such as when the property sought to be inherited was held jointly or passed directly to heirs through a trust.
While generally, the law requires that before you sell your home in Florida, the deceased’s estate needs to undergo probate, there are various instances when probate is not required when you sell your home in Florida. Here are a few options on how you can sell your home without probate.
In certain states, a Lady Bird Deed—also known as an Enhanced Life Estate Deed—is a legal document that modifies the ownership and transfer of property. It enables someone to keep total control over their property. At the same time, they are still alive and can transfer the money to beneficiaries without going through probate. This implies they can sell, rent, mortgage, or change the property without the beneficiaries' approval.
A Revocable Trust is another way you can sell your home fast without probate.
A revocable trust, sometimes called a living trust, is a type of legal arrangement that can be changed or revoked at any moment and is established to retain ownership of a person's assets while they are still alive. Because the assets are owned by the trust rather than an individual, this kind of trust permits assets to avoid probate.
Through this, the trustee can sell the house without the consent of the probate court if the inherited property was put into a revocable trust before the original owner's death.
Having joint ownership with rights of survivorship is when two or more people jointly own a single property.
Here, after the death of one owner, the remaining owner or owners automatically inherit the deceased owner's portion of the property. In this case, since the property never becomes a part of the deceased person's estate, you don't need to wait for probate proceedings to end to sell your house as-is.
After learning about the various ways you can sell your home without probate, it's time to learn about the steps you need to take so that you won't have to continuously think about “How can I sell my inherited home?”
As probate is the general rule for inheritance, it's essential to first determine if the property you want to sell qualifies for probate avoidance, whether by revocable trust, joint ownership, or ladybird deed. Since not everyone is well-versed in the law, contacting professionals to determine whether your property qualifies is better.
While you won't be subjecting your property to probate, obtaining the death certificate is still essential as you need it to officially update the property's certificate of ownership and facilitate the transfer of ownership.
Once you've updated the property's certificate of ownership, you should address all the outstanding debts and liens, as no one would buy a property with an unclean title with existing mortgages or liens attached.
Make a decision on whether to sell the property "as-is" or to improve its marketability. Selling a property "as-is" might speed up the process, particularly with cash purchasers prepared to buy houses that don't need renovations.
As selling inherited property without probate is an exception to the general rule, it can often lead to various legal and financial challenges.
For example, suppose you refuse to undergo probate proceedings. When you have no legal reason to avoid probate, you'll end up with a clouded title that many insurance companies may refuse to insure. Florida homebuyers might be hesitant to buy your property. Not to mention, it may lead to a bigger legal battle if you sell the property without the consent of the other heirs.
Financially, when you sell your house as-is without probate, you might end up causing delays in receiving the proceeds and expose the parties to unforeseen costs, Additionally, you might also encounter title issues, where you need to pay more legal fees, court filings, and professional services, that could also potentially affect the property’s value.
After going through all that, another important part you should think about is how you want to sell your house to Florida homebuyers. If you’re short on money and want the process to be done fast and easy, then selling your house as-is is the way to go.
When you sell your house as-is, one guarantee is that the sale will be quick and easy since you won't have to put your home on the market, stage it, renovate it, and tour hundreds of people to close a deal. Since this type of sale often involves cash buyers, these deals usually end in days instead of months.
Selling your house as-is means you don't have to worry about your property's appearance when you close the deal. In traditional sales, a house's first impression is vital if you want your property to stand out on the market. However, with an as-is sale, you can sell your property exactly as it is—no fixing, cleaning, or updating required.
One of the reasons why traditional sales fall through is because of the financing that buyers need. Luckily, when you sell your house as-is, you can expect not regular financing options but just plain cash buyers, so there's a much lower chance of the deal collapsing before closing.
Dealing with an inherited property in the middle of grieving for a loved one can be incredibly overwhelming and emotionally taxing. However, when you deal with a company that understands your worries and situation, you’ll be surprised at how less stressful the entire process can be.
Camarotti Homes specializes in making the process fast, easy, and hassle-free. Whether you end up with a house you don't want anymore or need the money to pay for the mortgage or funeral expenses, we’re the people for you because we buy ugly houses and all sorts of homes. We buy houses for cash, no matter the condition.
Contact Camarotti Homes today and let us help you sell your inherited home without any added stress or complications during this difficult time.
No effort needed, no hidden fees. Receive cash and a fresh start in just 7 days.
