Tips on Selling Inherited Property

Real Estate AgentMany fortunate individuals inherit property from their loved ones. You can cherish this inheritance or sell it to get the full benefits of your windfall. 

It is good to understand the guidelines to be followed while selling inherited property in St. Louis and other such places. There are many experienced solicitors who can assist you sell your inherited property quickly without much delay. The property should be in your name so that you can successfully sell it. If the property is in trust, then you can contact them to transfer the title to your name. If not, you should approach the probate court.

  • Probate courts

When someone dies leaving property behind, then probate is an essential legal process that is warranted. This includes proving that the will left behind by the deceased is valid. 

The other steps include inventorying the property of the deceased and identifying it, having the home appraised, paying taxes and debts pending and distributing the property as per the will. If there is no will, then the law of the state will prevail. Probate involves many court appearances and paperwork by legal experts. 

The fees of probate lawyers can be paid from the inherited estate. The probate court will transfer the property in your name, after successful completion of the process.

  • Steps to selling property

Once the property is in your name, you must get it inspected and appraised by professionals to value it accurately, before it is sold. Appearances are very important; so, make sure that the exteriors and interiors of the home are cleaned up and well painted. If you can afford it, get your kitchen and bathroom upgraded and refurbished. 

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A real estate agent can help you sell your home by promoting it through various outlets including websites and newspapers. People prefer great visuals and this will get you a buyer quickly. Hence, take good pictures of the home and the exteriors or take a video giving a virtual tour of the home and its neighborhood.

After you locate a buyer, review their offer, and check it with your agent, before finalising the transaction.