Real Estate
Sponsored by

Selling an inherited home

1,342 Views | 5 Replies | Last: 5 yr ago by Ribeye-Rare
Joe Exotic
How long do you want to ignore this user?
AG
My mother passed away in March and I am the executor of her estate. She left a home valued around $240k ish to myself and two sisters. The home was owned by mother free and clear with no liens. All three of us want to sell the home as she moved into it later in life and there's no emotional attachment for us. Is the best way to just hire a realtor and let them do the work as if it were our own home? I've been inundated with letters from buyers saying they want it for cash, quick closings, no closing costs, etc. Are these just scams?
SteveBott
How long do you want to ignore this user?
AG
I'd interview a couple of realtors and go the traditional route. You will pick title so before listing get with them to review your paperwork to make sure they will not have a problem. Sell house
Post removed:
by user
HTownAg98
How long do you want to ignore this user?
I would do that, and possibly look into having an attorney go over all the paperwork for the sale of house AND the estate, especially if you don't use a broker. They will make sure everything is ok coming out of probate, and can do all of the necessary work selling the house.
Joe Exotic
How long do you want to ignore this user?
AG
Would this be something my probate attorney would do?
SteveBott
How long do you want to ignore this user?
AG
He doesn't. Just select a title company and they will do all the legal work upfront including an underwriter and if needed, their attorney.

They only make money on deals competed.
Ribeye-Rare
How long do you want to ignore this user?
AG
Bayside Tiger said:

I've been inundated with letters from buyers saying they want it for cash, quick closings, no closing costs, etc. Are these just scams?
Bayside,

First, I'm sorry you lost your mother.

I just went through this myself with my dad, and received several dozens of 'offers' on my parents' home, which happens to be in a 'hot' area right now.

Unfortunately for them, only my father had died and mom is still very much alive and wanting to stay in her house.

If those offers (none of which contained firm #s) were comparable to the unsolicited offers I regularly get on some vacant parcels I own, they are not very competitive, at all.

Money wise, you'd be better offer listing it if you don't want to be bothered doing a FSBO, in my opinion.

So, I'd stay away from the mail-order offers, unless the place is a total wreck or worse. {I have no idea of your situation - please don't take offense, as I'm just trying to cover all the bases.}

Since you've been appointed Independent Executor (assuming Texas), you almost always have the power to dispose of the assets of the estate (unless prohibited by the will), so that shouldn't be a problem either.

I agree with SteveBott in that a good title company can do this work for you. Remember though, in Texas, an Executor is only to give a Special Warranty Deed, not a General Warranty Deed. The title company is going to insure title anyway, so that won't be an issue.

The attorney for the title company should know to prepare a Special Warranty Deed, but it never hurts to remind people of things that they should already know.
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.