Have you inherited a Houston TX house recently? Are you thinking of selling a Houston house in probate ?
At lunch at boomtown today ( I highly recommend this spot if you live or work around the area or are downtown for any reason, nice coffee shop with great wifi!), my mind flashed back to a recently concluded Probate deal. I got a call from a seller selling a Houston house in Probate. This deal was quite different from other deals I have closed. Reason being the seller didn’t understand what it meant to be selling a Houston house in probate. The seller had just inherited the house in Houston and wanted to sell the inherited house in Houston. She was thinking of selling a Houston house in Probate. The seller, was named the “executor” of the Will by the court but didn’t really understand what this meant, and also what the next line of action to be taken should be. If you are in this position this will be a very informative read for you.
If you want to sell a Houston house in probate and sell your inherited house in Houston TX, my advice for you would be to read this article carefully. Familiarize yourself with all the information I am going to share as this might become very useful to you in the near future when you do decide to start selling a Houston house in Probate. For those interested in selling a Houston house in probate now, we would be willing to make you a reasonable offer and help you throughout the probate process. In addition, we will be educating you on the process should you decide to keep the house as well.
Every year we buy many, many houses from people looking to sell a Houston house in probate and we are quite familiar with the process. We also buy inherited houses in Houston, in other situations as well. We have a wealth of experience in probate situations as we have been doing this for quite some time now. So rest assured that you are dealing with a professional that knows the probate process and can help you every step of the way to selling your inherited Houston house in probate.
What is the Probate Process? How does it work?
Before I go on about selling a Houston house in probate, I realize some of my readers might not even understand what the Probate process is all about or what probate even is? Let me give you a brief insight into the probate process just in case you recently inherited a Houston house and you want to sell your Houston house in Probate. In that case, you need to know a bit more about the probate or inheritance process.
The truth of the matter is that most sellers usually do not understand the process involved if they want to sell inherited houses in Houston. But they need not worry as we are here to guide you guys through every step in the whole Inheritance and Probate process.
So, let’s start with a brief explanation of Probate.
In the dictionary, probate is defined as the official proving of a will. According to Wikipedia,” Probate (often abbreviated pr.) is the legal process whereby a will is “proved” in a court and accepted as a valid public document that is the true last testament of the deceased.
The granting of probate is the first step in the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person’s property under a will. A probate court decides the legal validity of a testator’s (deceased person’s) will and grants its approval, also known as granting probate, to the executor. The probated will then becomes a legal instrument that may be enforced by the executor in the law courts if necessary. A probate also officially appoints the executor (or personal representative), generally named in the will, as having a legal power to dispose of the testator’s assets in the manner specified in the testator’s will. However, through the probate process, a will may be contested.
Probate is a process of improvement that proves a will of a deceased person is valid, so their property can in due course be retitled (US terminology) or transferred to beneficiaries of the will.”
Huh……I’m thinking of selling a Houston house in probate but this is still confusing…
You’re not alone, this is a complicated process and the only reason we understand it so well is because we have been through it many, many times. We have bought a lot of homes in probate but this is likely your first time selling a Houston house in Probate. This is likely your first time going through this process so it is no surprise that you are a bit confused by the process (almost all people are the first time they go through the probate process and I was as well)
Can you give me the quick simple version?
YES! To sum all that up in simple terms. If someone passes away and has a Will then someone else will inherit their house. BUT….before they actually can get full ownership and possibly sell the home (or keep it) the house has to go through probate. Which means a judge has to review the Will documents and approve them. That is the gist of the inheritance and probate process in real estate. And it is all you really need to know when selling a Houston house in Probate.
What is the reason for wanting to sell a Houston house in Probate? And why do you buy so many inherited homes or homes in Probate?
Usually, what happens in most cases is that a recently deceased family member leaves a house, usually accompanied with a will. His relatives (who usually are his/her children or siblings) then inherit the properties. But before the Will is acted upon, it has to go through a court process for verification and confirmation. In this instance, the court or family usually appoint someone to act as an “executor” of the estate. This is what the Probate process and you will go through it if you inherited a house in Houston and are looking to sell a Houston house in Probate.
Usually, these houses are older, have not been updated or maintained in many, many years (decades usually) and the inheritor usually does not have a use for the property. The Inheritor usually already has a home of his own to live in. Also, siblings usually do not want to share the responsibility of rehabbing and renting an old property (or maybe they live in a different city). So they decide that the best course of action is to sell the house fast and split the proceeds accordingly)
Why not just keep it and not rent it, if you don’t really need to sell the inherited house in Probate?
Well if you keep it vacant you will run a weekly risk of having the house vandalized or having someone come in and take the A/C or copper from the house. You will be paying monthly property taxes for something you don’t use. You will have a pretty high insurance bill (insurance for vacant homes is pricey). Plus you will have a home that is just getting older and falling apart as the years go by….continuing to pay for something like that does not make a lot of sense. A lot of times it is better to just sell the Houston house in Probate fast.
It may make sense to keep the house if the house is in an area that is rapidly appreciating in Value (The Heights in Houston or Montrose or something like that)…because maybe it will be worth a lot more in the future….But even then it’s questionable due to costs of property taxes going up and headaches involved in keeping it. Outside of that, and even in that case, it doesn’t really make sense to keep the house in Probate. So people sell a Houston house in Probate to us all of the time. In fact, almost half of the homes we buy are in some sort of Probate or Inheritance situation.
I am the “Executor” of the Will…What does that mean? What do I have to do?
Many of you inherited a house in Houston and found us by typing “selling a Houston house in probate” or “sell my inherited house in Houston” in a search engine like google or yahoo. My guess is that you are the executor of the Will and we can help you out. We are Houston’s largest Will/Probate/Inheritance fast home buyer. An executor is a person named in a will or appointed by the court, that has been given the legal responsibility to take care of the remaining financial obligations of the deceased person. This involves taking care of everything from disposing of property to paying outstanding bills and taxes. This is likely you and you are in charge of selling a Houston house in Probate.
Yep i’m the executor or probably will be appointed executor by the family or courts in the near future…what am I supposed to do.
Executors usually carry out quite a lot of duties; this depends most times on the complexity of the deceased person’s financial status and also on the family circumstances. In a normal scenario, an executor must:
- Locate the deceased person’s assets and coordinate them until they are distributed to inheritors. This may involve taking decisions on whether to sell real estate or securities owned by the deceased person.
- Decide whether or not probate court proceedings are required. Usually, co-owned assets are passed to the surviving owner, without the need for probate.
- Find out who inherits property. If the deceased person left a will, the executor will read it to ascertain who is entitled to what. In the absence of a will, the person in charge (also known as the administrator) will have to have a look at the state law (called “intestate succession” statutes) to determine who the deceased person’s heirs are.
- File the will (if any) at the local probate court. This step is required by law, even if no probate proceeding will be necessary.
- Handle day-to-day details. This sometimes might include terminating leases and credit cards and informing banks and government agencies.
- Set up an estate bank account. This account will hold money owed to the deceased person.
- Pay debts. If there is a probate proceeding, the executor must officially notify creditors of it, following the procedure set out by state law.
- Pay taxes. A final income tax return must be filed, covering the period from the beginning of the tax year to the date of death. State and federal estate tax returns are required only for large estates.
- Supervise the distribution of the deceased person’s property. The property will go to the people or organizations named in the will or those entitled to inherit under state law.
As you can see above…you’ve got a big job and we would like to make it easier on you by at least helping with one part of the process. We can buy your home fast, helping you liquidate the inherited house quickly so that you can move on to the rest of your responsibilities (and have funds to pay any taxes/debts etc…) Selling a Houston house in Probate should not be difficult and when working with us it isn’t we make the process easy!
Again as we have discussed….there are several reasons why you might to sell a Houston house in Probate and quickly get rid of the inherited house in Houston during the Probate process. Some of the usual reasons we get for a fast sale in Probate is that the family doesn’t intend on paying taxes continuously on the property. Or the property is currently in an uninhabitable state. Or has not been updated in decades. Or simply that the family has no use whatsoever for the property. In rare cases, it might actually be the wish of the deceased that you dispose of the property. So the family is just following the wishes of the deceased sometimes when they are selling a Houston house in Probate.
Usually, there is the need for selling a Houston house in Probate FAST. A need to sell the inherited house fast, but this isn’t always the case. And sometimes the process can be a drawn out and complicated one (we make it as simple and fast as possible and usually can with our experience). But if it takes a long time to get through Probate due to unforeseen issues or incorrect Will paperwork, it can sometimes lead to disagreements among family members. Which can tend to put a strain on family relations (which is why we move as fast as we can)? (As the owner of the company I have actually been through this process myself). So I move as fast as possible to make selling a Houston house in Probate as easy as I possibly can for all family members involved.
In summary most times that people have decided on selling the Houston house in probate, they want to get it done quickly. A lot of times (as it was when I went through the process) the main reason is to avoid family scuffles and disagreements and also avoid the stress that comes with the process. Along with a lot of other reasons.
If you came across our site by searching for “selling a Houston house in probate” then we are just what you are looking for and we are willing to guide you through the Probate process so you can sell the inherited house in Houston quickly with as little family or paperwork issues as possible.
HEY, GUYS…..I AM NOT AN ATTORNEY AND IN NO WAY GIVING OUT LEGAL ADVICE OR ADVICE OF ANY SORT; I AM SIMPLY STATING MY VIEWS ON THE SUBJECT MATTER WHICH IS A REFLECTION OF MY EXPERIENCE BUYING INHERITED HOUSES FROM PROBATE SITUATIONS AND GOING THROUGH THE PROCESS MYSELF.
I SINCERELY HOPE THAT IT HAS BEEN OF HELP TO YOU.
BEST OF LUCK WITH THE SALE OF YOUR INHERITED HOUSTON HOUSE IN PROBATE!
Below are some pictures of the last inherited house we bought in Houston when a seller was trying to sell his house fast in Probate in Houston.