If you are thinking about selling your inherited property, you might be wondering, “we buy houses in Oak Cliff – any holding period before selling my inherited home?” This article will answer that question and you might be surprised at what you learn…
If you’ve inherited a property, you might now be wondering what to do with that property. And if you’re thinking about selling it then you’re probably wondering, “we buy houses in Oak Cliff – any holding period before selling my inherited home?”
Great question. There are a few things you should know in order to answer the question.
We Buy Houses in Oak Cliff – Any Holding Period Before Selling My Inherited Home?
Probate Versus Inheritance
In general, an inherited property is what you get when someone passes away and leaves you their property. Probate is a stage along the way – it’s the step of proving the will and making sure that the right heir gets the right inherited property.
Therefore, if someone leaves you a home and the home is in probate, you might not be able to sell it right away because the will is still being proved and there could be other heirs contesting the will. But, if there is no Will, you can sell the home with an Affidavit of Heirship, fast. We buy houses in Oak Cliff – Any holding period before selling my inherited home?
An affidavit of heirship can be used when someone dies without a will, and the estate consists mostly of real property titled in the deceased’s name. It is an affidavit used to identify the heirs to real property when the deceased died without a will (that is, intestate). The affidavit is filed (“recorded”) with deed records in the county where the decedent’s real property is located.
However, if probate is complete and you fully own the inherited home, then you can likely sell without waiting.
There Is A Holding Period (But Not What You Think)
There is a holding period with inherited homes but the holding period doesn’t mean you can’t sell… it’s simply a term used to describe how you will be taxed on the property – and it depends on when the deceased passed away. We buy houses in Oak Cliff – Any holding period before selling my inherited home?
However, in most cases, this won’t prevent you from selling the property but you should talk to an accountant to see if the holding period will impact how much tax you pay.
There May Be Other Factors
While there isn’t likely going to be a holding period on the inherited house itself that will prevent you from selling it, you should be aware that there could be other holding periods that will make it more challenging to sell – such as if the home still has a mortgage or some other obligation. We buy houses in Oak Cliff – Any holding period before selling my inherited home? But in many cases, these can be sorted out and, in the long-term, shouldn’t keep you from selling.
So, if you inherited a home and are now thinking about selling it, and if you’re wondering, “we buy houses in Oak Cliff – any holding period before selling my inherited home?“ then here’s the good news: You probably don’t have to wait to sell and you can get that process going right away. However, be aware that there could be other factors that may delay the sale, or that could impact the tax you’ll have to pay when you sell.
Here’s a fast solution for you: If you want to sell your inherited home as quickly as possible, give us a call! We’ll give you a fair, fast all-cash offer to buy your inherited home as-is.
- Inherited a home, but you don’t want to pay Probate Atty fees, or Court cost? We will handle that for you.
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- Do you need money so you can move out and move on? We can do that! Ask us how.