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Pitfalls to Avoid Probate When going to Sell Your House in California
At We Buy Houses San Bernardino CA, we see a lot of real estate transactions go through probate. Very few of them go as smoothly as the estate’s heirs expect. However, by setting the right expectations up front, yours can be one of them.
Here are our top tips to improve your estate settling experience, along with pitfalls to avoid when selling a probate house.
Pitfall #1: Working with an inexperienced professional
Probate is an intricate process. We Buy Houses San Bernardino CA sees a lot of heirs go through more hassle and headache than they really need to simply because they work with professionals who don’t typically handle probate sales. Local probate rules can vary, and you need a skilled professional who understands the process inside and out. Otherwise, you could end up leaving a lot of money on the table when it’s time to sell your inherited house.
Start with a probate attorney who can help you collect the necessary documentation and give you the green light to sell. He or she will advise you throughout the process and can even point you in the direction of an experienced real estate agent.
However, if you’re thinking “How can I sell my house fast in San Bernardino CA?”, then you can skip the real estate agent altogether. Reach out directly to cash-for-house companies like We buy houses for cash California, CA, and go from cash offer to closing in just a few days.
Pitfall #2: Mishandling or neglecting the property
When a loved one dies, it’s easy to forget about their home until it’s time to sell. But consider that the probate process can often take months before you’re able to even think about selling. There’s a lot that can happen during this time: break-ins, leaks, wood rot, storm damage, and failed HVAC systems, to name a few.
These can be costly items to repair when it’s finally time to sell. And if they’re too expensive and you’d prefer to sell the house as-is, you could be giving up a large chunk of your inheritance due to decreased value.
Even if you don’t plan on living in the property, you should make an effort to maintain it until it’s time to sell. This includes cutting the grass, cleaning the gutters, watching for damage, and keeping the property in good condition. This helps to preserve its value and could make it easier to sell when the time is right.
Pitfall #3: Miscalculating the costs of selling the home
Many heirs don’t realize how much it costs to sell my house fast San Bernardino, CA. At least 6% of your home’s final selling price is wrapped up in real estate commissions. There’s also the cost of making repairs prior to listing, fixing anything listed on the disclosures, and paying for part of the closing costs. Understanding these costs can help you price your home attractively.
Leaving the house vacant for an extended period
Sometimes disagreements among stakeholders can delay a probate sale, meaning the property sits vacant for an extended period of time.
This can create a number of issues—if a pipe breaks and no one discovers it for weeks, that may cost thousands of dollars to repair.
If the lawn starts to look shabby and overgrown, that could result in a fine by the city for a code violation.
That’s not to mention insurance companies don’t like to cover empty houses. If a house sits empty for more than 60 days, it’s possible that the insurance policy could revoke important coverages.
Prevention tactic: Get the probate process rolling quickly and keep up with all necessary property maintenance.
Don’t dilly dally in your handling of the estate. File the petition to set a court date as soon as possible to get the ball rolling on the distribution of assets. If infighting starts to stall progress, consult your lawyer and get the probate court involved as necessary to make a decision.
Don’t let home maintenance slide if no one will be living there in the interim, and be sure to maintain the homeowners insurance policy on the decedent’s house until ownership is officially transferred to the new buyer of the home.
Conclusion:
Sell your house in probate should be handled quickly, and with the help of experienced, well-vetted professionals. By not rushing to sell on the one hand, but also proceeding with some degree of urgency to avoid the home languishing in disrepair, you can obtain a cost-effective, hopefully, satisfied family result—even in your grief—and return to your life.
Sell My House Fast San Bernardino, CA!
Selling a home in probate is never easy, but there are ways to speed up the process. Call We Buy Houses San Bernardino, CA at 909-442-5782 to get a quick cash offer.
