How to Sell your House during Probate

Sell your House during Probate

How To Sell Your House During Probate In Springfield MA

This article will provide basic information on how to sell your house during probate.  We are not lawyers and this is not intended to be legal advice.  We always recommend you seek the guidance of a probate attorney.

Case Study:

Hampden Homebuyers has purchased many inherited and probate homes in and around Springfield over the years but one recent case study stands out. Two sisters, Margaret and Barbara, were in the process of probating the estate of their late parents. The property had been in the family for over forty years and had been vacant for almost 4 years as their parents were in assisted living facilities.  To make matters worse the Springfield house was filled with personal property similar to hoarders as it had been used for storage.

Up keep, maintenance, property taxes, insurance, lawn care and risk of vandalism where constant concerns and expenses for the two sisters.  They had spent countless weekends, vacations and holiday’s caring for this property………can you imagine mowing a vacant houses yard for almost 5 years?

If you are facing a similar situation, caring for an inherited property and need to sell your house during probate, understand that this is very common.

To complicate the situation even more, due to the amount of time the property was vacant, serious deterioration of the house had taken place.  For example, the roof was leaking and there was some serious foundation cracks that had made the sisters question if the home was salvageable, much less safe to be in now.  They feared that the house would need to be demolished.  This was upsetting due to the fact that the house had been in the family for generations. While they didn’t want to live in it, they also didn’t want to see it torn down.

Hampden Homebuyers was able to step in quickly and help them with some answers.  Our team determined quickly that the house was salvageable. We gave them the piece of mind that the house would be renovated and that another family would get to enjoy it for years to come.

The family explained at closing that they went with us for several reasons:

  • Professionalism
  • Honesty
  • Sensitivity to their situation
  • That we set ourselves apart from all others they spoke with

Our Acquisitions Specialists worked closely with the family from day one.  We were sure to answer all their questions, help them understand the process and help them find the best possible solution to their situation. The key is to be aware of the core need to sell your house during probate.  We were careful to be empathetic to their situation… but also to remember that they were counting on our expertise to push this deal through.  In the end, we were able to make the whole transaction as painless as possible for the two sisters.  They had nothing but good things to say to us.

So how do you sell your house during probate?

Here is some information on the process.

How do you know if you must go through the probate process?

If the property was only in the decedents name at the time of death or if it was in the decedents name and other parties names as tenants in common (without right of survivorship) then probate will be needed in order to transfer the ownership of the property in order to sell the inherited house.

When does the property not have to go through the probate process?

Ownership of the property can be passed on without going through the probate process in the following situations.

  • If the decedent was married at their time of passing and the property was in  the husband and wife’s name as tenancy by the entireties.
  • If the property was held by the decedent and other parties as joint tenants  with the right of survivorship.
  • If the property is held in a trust
  • If the property was in a life estate with the remainder of interest to another.

The Takeaway:

While probate homes offer their own set of legal challenges, the truth is we get a chance to help a family out who is going through a tough time.  When we say, “we solve real, estate problems,” we mean it.  

At Hampden Homebuyers we are experienced  in buying houses in Springfield that have been inherited and are in the probate process. So if you need to sell your house during probate, we can help.

We have years of experience dealing with these types of emotionally charged and highly sensitive situations and have developed a system that makes it as easy on you as possible. Our expert acquisitions team can take you through every step of the process.

So, are you ready to put this stressful situation behind you?

If so, then just contact us by visiting our website www.MyHouseSoldNow.com and entering your information into the form or just call or text us at 413-248-7355 and tell us a bit about your situation. We would be happy to discuss your options with you.

Hampden Homebuyers, llc
1344 Allen St
Springfield, MA 01118

PH: 413-248-7355

104 Roy St Before – Sell a House Springfield MA

We Buy Houses Cash in Springfield, MA

Sell a House Springfield MA

 

Here is a look at the before pictures of a house that we are finishing up the renovations on.

 

This was an awesome purchase for us. We bought this home from an estate, paid cash, bought it “as-is” and closed quickly. The estate loved the ease of the transaction and how fast they were able to get their cash out of this house that needed much work.

 

Our renovation is gonna turn this boring little boxy cape into a masterpiece. We will completely open the wall between the kitchen and living room, creating an amazing open floor plan. We are gutting out the bathrooms and completely renovating them. We are also turning the upstairs half bath into a full……. giving us 4 bedrooms and 2 full baths.

We have to do some electric work, adding a new service line and panel, plus some plumbing work, sheetrock, floors, paint, etc…….

Here is a look at this house which we bought for cash in Springfield MA;

104 Roy St Springfield MA

104 Roy St Springfield MA

103_4002

104 Roy St. Cute Cape

104_4550

Living Room

104_4553

Eat in Kitchen

104_4551 104_4552

Dated Kitchen

Dated Kitchen

Kitchen

Kitchen

We Buy Houses Springfield

Wall to be Removed

Sell House AS IS Springfield

Full Bath

104_4558 104_4559 104_4560 104_4562

Sell my House Springfield

Half Bath

104_4564 104_4565 104_4566 104_4567 104_4568 104_4569

 

So there she is in all her glory. Kind of looks like a time capsule with those dated baths and kitchen. This is a very common thing with all the estate and inherited properties that we buy.

 

Now here is a look at some of the work in progress. You can see the way we have opened up the floor plan to modernize this little gem~~~~;

Kitchen

Kitchen

We Buy Houses Springfield

Wall Between Kitchen and Living Room Removed

Sell House Springfield MA

New Hardwoods Installed

Sell House Springfield MA

Gutted Bathroom

Sell House Springfield MA

New Header for Support

Kitchen

Kitchen

 

Stay tuned for the finished pictures from this great probate property rehab that we have wrapping up.

I’ll be posting those shortly!!!

See you on the Flip Side~~~~~~

 

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A few facts about FlippingSmart.com and HampdenHomebuyers.com in Springfield and Chicopee:

We buy houses in Springfield, MA. Right here; we’ll even show you how we do it.
We buy houses in Chicopee, Hoyloke, Agawam and Ludlow MA, no matter how ugly the house is. Ugly is good from a buyer’s point of view. Ugly house is another expression for “this home has potential”. Fixer-upper? Sure, we buy these ugly homes “as-is”, clean them up nice, and sell them for a profit.
We buy houses for cash in Springfield, MA, no matter how ugly the house is. So, if you want to sell your house fast in Springfield, Chicopee, South Hadley or Holyoke, point your browser at HampdenHomebuyers.com – or, give us a call at 413-248-SELL and sell your house fast, because we pay cash!

 

P.S. Remember, if you like our blog posts you can subscribe using the form right below:

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or you can subscribe in the upper right hand corner under the heading “Subscribe to this Blog” , that way you get an email whenever we make a new exciting, awesome, informative and inspirational post!!!!

P.S.S.   Want to learn to flip houses like a pro; check out our real estate investing Mastery Coaching program. We’ve teamed up with Than Merrill from A&E’s Flip this House to offer this amazing coaching program. Check it out here:  http://masterycoachingmatt.com/

 

Should You Sell Your (Inherited) Estate House As-Is?

We Buy Houses Fast ChicopeeAn “estate house” or probate house is one listed for sale by the estate of a deceased person.

If you are not familiar with the estate process here is a very short overview. When someone passes away with or without a will, all the person’s assets and debts are put into the legal possession of the “estate”. The estate is a temporary legal trust that executes the terms of the will, disposes of assets and settles debts, before transferring the remaining assets to the heirs. Real estate property may be sold by the estate to meet the terms of the will, or to settle debts, or it may eventually be transferred to the heir(s).

The cash needed to prepare an estate house for sale is normally whatever assets are in the estate – that is, whatever the deceased person left behind. You may be the executor or personal representative handling the estate, or you may be working with an attorney or other executor.

 

  • Get a thorough inspection of the house to know the true condition and what is necessary to prepare it for a traditional home-buyer sale. Especially if it was the long-time residence of the deceased person, expect a lengthy list of issues, many of them costly.

 

  • How much cash does the estate have to prepare the house for sale? Are any of the heirs willing to chip in more?

 

  • Is it worth it to put the cash of the estate and/or the heir(s) into the house to sell, or is it smarter to sell as-is, quickly and for cash, to a fix-and-flip company such as Hampden Homebuyers?
    • Fixing the house may be a long process requiring knowledgeable management of sub-contractors and many choices of what and how much to fix.
    • Do you know what the building code requires, and what most benefits the house in this particular market? It is common for first-timers to put too much money into things that don’t improve marketability and overlook even small items that make an impression on home-shoppers.
    • Expect hidden defects to emerge during the fixing-process – even large show-stoppers. There is no control over what it may ultimately cost to get the house into the condition you are targeting.

 

Selling quickly for cash is frequently the best option, by far, to solve the financial and other problems of an estate house. Working with Hampden Homebuyers offers you an easy and fast cash transaction, without going through the hassles and headaches of fixing the house up and preparing for a traditional sale. Call us at 413-248-SELL or fill out our “Sell your house Fast” form to get the process started.

What Do I Do with this Inherited House?

What Do I Do with This Inherited House?

Here are some of your options for an estate property, probate house or an inherited home>>>>>>>>>>>>>>>>>>

 

An inherited house, whether it is in Springfield, Holyoke, Chicopee, Longmeadow, Agawam, South Hadley or Western MA, is an investment that provides an exciting opportunity to make or save money. People who have inherited a house usually have three options: live in it, rent it, or sell it. Since the first two options often aren’t realistic for most people, an inherited house is most often sold by its new owner.

Moving into Your Inherited House

If you’ve inherited a house in the town or city where you already reside and you don’t already own the home you currently live in, chances are you will choose to occupy the inherited house. However, sometimes inherited houses are not in tip top shape and necessitate a remodel.

In these cases, if you don’t have the money to renovate the inherited home and the house you currently live in is in better shape than the inherited house, you may choose to sell the inherited house as is, make some money off the sale, and continue to rent. You may even be able to use the money you make off the sale of your inherited house to make a down payment on a different house you wish to purchase.

If you live outside the area in which your inherited house is located, you will need to decide to either rent out or sell the house if you’re not willing to relocate in order to occupy the inherited house yourself. If the inherited house is in good condition, it may be a good investment to keep as a rental.

Out of area homeowners may be faced with extra challenges as a landlord, especially if the house is older and will needs a lot of maintenance and repairs. You will most likely need to hire a property management company to oversee the rental and deal with any maintenance, repairs, and tenant-related issues.

Selling Your Inherited House

If you are unable to occupy your inherited house yourself and don’t want to deal with the hassles of renting a home or paying someone else to oversee the property, selling the house is an excellent option. The majority of inherited houses are sold and never occupied by the people who inherited them.

However, if the inherited house is not in sellable condition and you are not able or willing to prepare the house to be placed on the real estate market, an excellent option is to sell the inherited house to a company that buys houses. A house buying company like Hampden Homebuyers can buy your inherited house for cash, purchase it as-is and close immediately.

If you would like to sell your greater Springfield area inherited house call Hampden Homebuyers now at 413-248-SELL or fill out our fast and convenient “Sell Your House Form” on our website to get the ball rolling. Click HERE to fill out the “Sell your House Fast” form.

Now that you understand your options, will you live in, rent out, or sell your inherited house?