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Selling an Inherited House

How Do I Sell an Inherited House?

 If the house gets put into a trust before you need to sell it, you can avoid probate.

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If you find yourself in a situation where you have to sell an inherited house, there are a few factors you need to keep in mind to make the process as hassle-free as possible. 

First, a quick disclaimer: I’m not an attorney, so the following shouldn’t be taken as legal advice. 

Now, the first question people ask in this situation is whether they need a will or not and whether that will help them avoid probate. The answer is no—even with a will, you’ll still need to go through probate when selling an inherited house. This process can cost anywhere from a few thousand dollars to upwards of $6,000 and can last from 30 days to as much as six months. 

One of the ways probate attorneys help people avoid this process is through careful planning. Have you ever heard the saying, “When’s the best time to plant a tree? 20 years ago. When’s the second-best time? Right now.” The same logic applies here. The best way to avoid probate is to start planning now. 

As far as what goes into this planning, a trust is something probate attorneys use a lot. If the house gets put into a trust before you need to sell it, you can avoid probate. You can also do a transfer-on-death deed to avoid probate. 

 

If the house gets put into a trust before you need to sell it, you can avoid probate.


 If the house gets put into a trust before you need to sell it, you can avoid probate.

Another common question that pops up regarding the sale of inherited houses is whether you can use power of attorney to sell the house after the owner passes away. Again, the answer to this is no—the power of attorney is nullified after the owner passes away.

One last thing to keep in mind when selling a property you haven’t lived in is a liability. In Minnesota, you have to provide a seller disclosure form in this situation. To eliminate our sellers’ liability, my team and I have them sign an as-is addendum and then have the buyer check the waiver box of the seller disclosure. 

As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d be happy to help you. 

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