How to Sell an Inherited House
Inheritance is a complex subject in UK law and how it is handled is of great importance. One of the largest assets that people inherit is a property and so it is vital to understand what is involved in selling a property that is inherited.
Selling an Inherited House
Selling an inherited house can be a daunting experience. As soon as the probate is complete and all the legalities are done, the person inheriting the property needs to decide what they want to do with it. They need to try and extract as much value out of it as they possibly can. There are a number of tasks that need to be undertaken such as renting out the property, attending to any works that need to be done to make the property habitable, appointing an estate agent to sell the property and agree upon a fee, getting any and all unpaid bills up to date, attending to issues in the garden if outdoor space is included, and taking full responsibility for every aspect of the property.
Common Issues with Selling Inherited Houses
Although inheriting a property is usually deemed as positive in terms of the value of the asset being inherited, an inherited house can quickly become a liability if the person does not have any experience or if there are complications with the property. For example, if the inherited house is vacant and has an outstanding mortgage remaining, then it is important to either find a tenant to move in to cover the mortgage costs or to sell the property as quickly as possible. If the condition of the property is poor, then this reduces the number of potential buyers who would take on the property and pay extra money for refurbishment costs which can be very high.
On average, a property sale typically can take 6 to 12 months to complete through the traditional marketing route. This can be another daunting part of someone inheriting a property. Not only have they had to go through the emotionally draining legal probate and complete lots of paperwork, which can already be a lengthy experience, but they also must deal with the loss of someone. Looking forward, they could face another year of hassle, stress, and worry relating to the property. Unfortunately, this could mean that the good intention of the person passing away and wanting to gift something of value to someone they care about, can soon become a nightmare to deal with. An asset can quickly become a liability.
Serene Homes is a leading fast house cash buyer and offers an advantageous solution to people who inherit properties because they can turn their property into a cash lump sum in as little as 7 days. So, if for example, a person inherits a property and all the paperwork is completed and legal title transferred across to the person’s name, then a week later, this person could have gotten rid of the property, which may need a lot of work, and rather feel like they have inherited a cash sum. Therefore, giving them total freedom to spend it however they please. It is far better to have money in the bank than own a property that someone does not know what to do with.
Sell Your Inherited House in Three Easy Steps
The steps that customers of Serene Homes need to follow are very simple. An online enquiry is followed by a phone call from a member of Serene Homes and a guaranteed cash offer is made within 24 hours. Completion of the house sale can take place within a week. After such a difficult period involved in losing somebody and going through the probate, it is an enormous relief to people selling an inherited property, that the house sale can be fast, guaranteed, stress-free, and involve no costs. Serene Homes will even cover any outstanding bills that are in arrears, as long as the price agreed for the property is correctly taken against the valuation.
Serene Homes are set up to offer a solution to people who have inherited a property and have already been through enough. Serene Homes is a fast house cash buying company, which offers a guaranteed house sale to its customers with the assurance that all fees will be covered and for there to be no need for an estate agency to be involved. The whole house sale process can be completed in as little as 7 days, meaning that the house seller can receive the money in full for the inherited property in as little as a week.
Sell an Inherited House Quickly and Easily with Serene Homes
The service of Serene Homes is ideally suited to anyone inheriting a property because the process is guaranteed, quick, and stress-free. Serene Homes can complete a house sale for cash without any need to find a buyer, make a mortgage application, or delay proceedings. As soon as the probate is complete, the person inheriting the property can contact Serene Homes for a survey to be completed, the cost of which is fully covered. The survey report is usually prepared within a few days and sent to Serene Homes to confirm the condition and value of the property. A final price is then agreed, and monies received by the person who inherited the property in a matter of days. It truly does not matter what condition the property is in externally or internally and whether there are arrears with bills, everything will come through in the survey of the property and the legal due diligence. All of these costs are covered by Serene Homes.
Speak to our friendly team for advice and get a valuation on your inherited property within 24 hours.
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