Selling an Inherited Property in California Is Easy!

Have you inherited a property? Be aware that selling it can feel like pushing a Subaru Outback up Telegraph Hill.

How?

Let’s start with the costs.

Selling an inherited property means having to pay closing costs. In Southern California, these costs can be at least 1% of your home’s sale price. It may not seem like much, but that’s easily $7,000 out of your pocket if your inherited property is worth $700,000.

There are also realtor fees. Realtor commission rates in Southern California are among the highest in the country, averaging 5% to 6% of your home’s sale price. And legal fees? Expect to pay at least $1,000, excluding property taxes, especially if you’re selling an inherited house in Southern California.

In short, selling your inherited Southern California property is not just time-consuming, but doing so can also burn a hole in your wallet even before you close a sale.

Does this mean selling in this part of the state is hard? It is — unless you find a buyer who’s willing to buy your property for cash.

Find out why a cash sale is the easiest way to sell your home fast in SoCal.

The Problems With Inheriting a Property

Inheriting a property may seem like getting a house or piece of land for free. However, there’s more to it than that. Despite some of the perks (and there are, indeed, just some), expect several problems as you take possession of the property, including the following.

Legal Problems

The person who passed and gave you the property is likely someone you know well. But how much do you know about the property that was handed over to you?

Is there a lien on it?

Were there any deed or title-related issues at the time you inherited the property?

Unless you’re sure that you have answers to these questions (and others), you’re likely to run into some legal problems when you hold on to your newly inherited property.

Property Taxes

Under California’s Proposition 19, your newly inherited property must undergo reassessment. Reassessment is the process by which a property’s value is appraised again after its transfer.

What does this mean for you? It means that depending on the results of the reassessment, you may owe more or less property taxes on your inherited house or lot. Either way, inheriting a property puts you on the hook to pay property taxes.

Occupants

In California, it is possible to inherit a rental property. The problem is when the property still has occupants. As the new owner, you’re also taking on the responsibilities of a landlord, which can be too much if you’re dealing with the passing of a loved one.

Problems Selling

Last but not least, there will be hurdles if you try to sell your inherited property. From title transfers to legal fees, expect a lot of paperwork, processes, and fees. Let’s also not forget how costly it can be to repair your inherited property before you list it.

What Nobody Talks About After Inheriting a Property: The Emotional Toll

Here’s something few will tell you:

Yes, you’ve inherited a property. However, there’s no doubt that you’ll also be dealing with the emotional effects of losing a loved one. While you mourn, the property may just remind you of the deceased, adding to your emotional anguish.

Losing a loved one is an emotionally challenging experience in and of itself. To make moving on easier, the best option would be to sell your home — which can be easy if you can find the right buyer in Southern California.

Do Yourself and Your Family a Favor: Get Closure and Sell Your Home Fast

Selling your inherited property is the best way to move on following your loved one’s passing. Unfortunately, there are numerous legal and financial hurdles that await you when you try to sell traditionally in Southern California.

Luckily, we at My Home Sold understand what you may be going through and are here to offer you a quick and easy solution — sell your house fast and for cash.

We Buy Houses As-Is With Any Issue

Whether your inherited property is about to be condemned or has code violations, we’re ready to make you an offer for it. Sell it fast and as-is to us even if it has the following issues:

1. Vacant properties: Your vacant house sitting idle and deteriorating is valuable to us, and we’ll purchase it regardless of how long it’s been unoccupied.
2. Death estates: When inheriting a property after a loved one’s passing, we understand the emotional burden and will purchase it from you with sensitivity and care.
3. Bad rental property tenants: Those problematic renters who’ve damaged your property or stopped paying won’t stop us from making you a fair offer.
4. Foundation problems: Whether it’s minor cracks or major structural issues, we welcome your property despite its compromised foundation.
5. Hoarder homes: Accumulated items shouldn’t be your burden. We’ll buy your property as-is with all its contents.
6. Code violations: Your home’s failure to meet local building regulations will not stop us from purchasing it at a fair price.
7. Damaged homes: From storm destruction to fire damage, we gladly take properties regardless of their condition.
8. Trash-filled properties: Let us handle the cleanup while we purchase your house — even with all its debris and unwanted items.
9. Rundown buildings: Years of neglect and deterioration cannot prevent us from seeing your property’s potential.
10. Fixer-uppers: That outdated house requiring extensive renovations is exactly the kind of property we’re looking for.
11. Properties in bad shape: Peeling paint, broken windows, and crumbling walls will not diminish our interest in purchasing your house.
12. Abandoned homes: Whether neglected for months or years, we’re ready to purchase your property no matter how long it has been abandoned.

No matter your inherited home’s condition, we’re just a call away and ready to make you a competitive offer for it.

Get a fast, fair, and free cash offer today and find out how much we’ll pay you for your inherited property in Southern California.

Read How We Buy Houses in San Diego, Orange County Riverside, Pomona, Orange County, San Bernardino and Upland

We get it if you’ve got questions or are unsure about whether to sell to us or not. If you need proof of how much we’ve helped home sellers in Orange County, Riverside, Pomona, San Diego, Chula Vista, San Bernardino, and Upland, check out our reviews.

You can also see how we buy homes and how easy it is to sell in Southern California when you read about us.