When a loved one dies, the last thing you want to deal with is a complex situation
When a parent, grandparent, or loved one dies it can be devastating to your family. If you have inherited a home, you have several options – taking over the mortgage (if there is one) and living in it, renting it out, or selling it. However, it’s critical that you find out exactly what your legal options are because holding onto the property isn’t always a good idea. It could drain your family’s financial resources for a number of reasons – because the mortgage is too high, the home is no longer worth what is owed on it, or keeping it will force you to refinance the mortgage in your name.
Many are unaware that an inherited property must go through the process of probate, which means that you are responsible for finding and collecting all your loved one’s assets, paying their last expenses, filing the taxes, and distributing the money that’s left to the creditors they owe money to and their heirs. This can be costly and time-consuming. We can give you the information you need to come to the best solution in determining if selling the property might be a more financially sound decision. If you decide to sell your property, we will help explain the entire process to you – and handle all the leg work for you. In many cases we can put cash in your hands in as little as 48 hours.
