Sell My Parents’ House

    How Do I Sell My Parents’ House?

    Selling your parent’s house is never easy and can bring up a lot of emotions. It’s sad to let go of a place filled with childhood memories, and you might wish to keep it for your own children in the future. However, sometimes, you have to face the tough choice of selling it.

    Contents hide
    1 Why You Might Need to Sell Your Parents’ House
    1.1 There are two reasons you might consider selling your parents’ house:
    2 In this article, we’ll take a closer look at the first situation
    2.1 Am I allowed to sell my late parents’ house?
    2.2 In all three situations, you can sell the house after completing some necessary steps.
    3 How to Sell a House You Got from Someone Passing Away

    Why You Might Need to Sell Your Parents’ House

    There are two reasons you might consider selling your parents’ house:

    1. If your parents have passed away, and you’re responsible for handling their belongings and property, you may need to sell their house, especially if it was left to you in their will.
    2. If your parents are unable to care for their house and belongings due to illness or incapacity, as their children, you might need to sell the house to manage their affairs.

    In this article, we’ll take a closer look at the first situation

    Am I allowed to sell my late parents’ house?

    If you’re wondering, How do I sell my parents’ house in Tulsa?

    If you’re concerned about what happens to your parents’ house now that they’re no longer around, you can relax. If your parents had a proper will that said you get the house, it’s automatically yours. If there’s no will and your parents passed away suddenly, the court decides how the inheritance works based on probate laws. But if you inherit the house through a living trust your parents set up while they were alive, you can skip all the court processes and sell the house faster.

    In all three situations, you can sell the house after completing some necessary steps.

    How to Sell a House You Got from Someone Passing Away

    1. Apply for probate: If there is no will, apply for probate to handle the sale of the house. In case you were named in the will, the executor of the will applies for probate so they can distribute the assets mentioned therein. If your parents’ house has tenants, the house will pass on to you if there was a will. However, anyone can contest the will during the probate. Probate is simply going to the court to verify the will your parents made, and in case they didn’t, the court appoints an executor for the property to make sure all the debts your parents owed are paid before the property passes on. However, the process can take up to 2 years, depending on the state you live in.
    2. Get the house clean and tidy: As the legal side of things progresses, make sure you keep the house neat and tidy and the house doesn’t fall into general disrepair. This can become an emotionally tasking job for you, especially if you must commute long distances just to maintain a house. However, keeping things in order will help you take the house to market much more efficiently and save you money.
    3. Remove/donate personal items: Before putting the house up for sale, take out all personal items of your parents (and maybe your own). This might take some time as you go through a bunch of stuff. Your family might want to keep some things for sentimental reasons. Use three boxes and label them:
    • Throw away
    • Sell
    • Give away

    Get your family and friends to assist you in going through things. This allows them to take what they want from the house. Don’t pack everything to your house, as it will only make more work for you.

    Have a yard sale after finishing this step.

    1. Take care of the bills: After this step, you’ll still have bills to handle. As the new owner, make sure to pay the essential bills, like utilities. If there were extra services your parents used and you don’t want to continue them, check for any unpaid balances to avoid accruing interest. Also, contact banks and other financial institutions to inform them about your parents’ passing. Any debts will need to be settled either by you or by selling your parents’ properties.
    2. Check the documents: Keep your documents in one folder at all times.
    • Wills
    • Bills
    • Money papers
    • Investment info
    • Insurance papers

    When selling the house you inherited, you’ll need all these documents to show there are no unresolved issues with the property and to finalize the sale.

    1. Boost Security: If you’re not staying in the house until it’s sold, consider improving the security. You might not know who has keys to the inherited house. Changing all the locks is a good idea. Also, think about getting a simple home security system that notifies the police if there’s a break-in. You can enhance it with cameras, but even a basic system will help you feel secure. For added safety, update the mailing address to yours and ask companies to stop sending advertising mail.
    2. Fix Things Up: Your parents’ house might need some serious fixing. If they were unwell or elderly, they might not have taken care of leaking pipes or broken fences. It’ll be easier to sell the house if you take care of minor repairs. If there’s a lot of fixing needed, you can decide if selling as-is is better than doing a full renovation.Top of Form
    3. Get a Real Estate Pro or Sell on Your Own: The final step is putting your house up for sale. You can hire a real estate agent or sell directly to a cash buyer. Either way, you need to understand the market and decide on a price, considering the market conditions and any discounts you might want to give.Top of Form

    If you’re confident in handling it yourself, you can put up a “For Sale By Owner” sign (FSBO) and take charge of marketing, showing, and dealing with offers on your own. You might not want to mention the previous owner’s passing right away in your conversations. However, rules about such disclosures can differ by state. Check the regulations in your state and be truthful with potential buyers later on.

    Related Posts

    About author

    Local House Guide

    Related Posts

    Leave a Reply

    5 + 4 =

    Do not miss