Probate and Inherited

  • sell an inherited house
    Permalink Gallery

    How to Sell an Inherited House Fast: 3 Options for Selling an Inherited House in Louisville, KY

How to Sell an Inherited House Fast: 3 Options for Selling an Inherited House in Louisville, KY

If you need to sell an inherited house in Louisville Kentucky there are several options to consider. The most common options when needing to sell a house in probate are a traditional sale through a real estate agent, for sale by owner, and selling to a real estate investor. As an owner of an inherited home or a house in probate, you may be feeling overwhelmed with the addition of another property on your plate. We hope this information helps make the right choice for your family when selling an inherited house in Louisville, KY.

  • sell a house in probate in Louisville
    Permalink Gallery

    How to Sell a House in Probate in Louisville, Kentucky Quickly and Easily

How to Sell a House in Probate in Louisville, Kentucky Quickly and Easily

Can you sell a house in probate in Louisville, KY? This is one of the questions that you may be trying to answer after your loved one passed on and left an inherited property behind. While you and your family will be mourning the passing of your loved one, it is also important for you to take care of other critical issues such as selling an inherited property left behind. Fortunately, you can reduce the stress and hassle of selling a house in probate in Louisville, Kentucky by consulting the right people, following the legal process and finding the right buyer for your inherited house.

What is Probate Court in Louisville KY How Do I Sell an Inherited House or Property?

So you inherited a house from your great aunt Claire or grandpa Bob, and at first it seemed like a really great thing, like a blessing. All of your friends and family told you how lucky you were, and it made you smile to think of getting a “free” house. But then, once the probate court process was over and ownership of the house had been transferred to you, you finally realized just how much work this “free” house was REALLY going to take. Often repairs can add up to thousands of dollars you just don’t have!

I can help.

Sometimes the emotional strain of cleaning out and fixing up the inherited home of a loved one, such as a mother or father, is so painful that you would rather sell it quickly and be done with it. This happens all the time.

I can help.

Or maybe you noticed the neighborhood is not as nice as you remember it, and now you really don’t want to live there after all.

I can help.

If you have a house that you’ve inherited in the city of Louisville, KY call me. A lot of people don’t have the time (or the money) to get a home ready to sell on the open market with a Realtor. Real estate agents will often kindly, but plainly say that they just don’t take listings on a houses that need too many repairs. They don’t want their company to get a reputation for selling ugly houses, and you can’t blame them, can you?

If you need to sell an inherited house in Louisville, KY and just want to see how much you can get in today’s investor market, give SnH Homes a call at 502-694-0246. It’s […]

  • probate louisville ky
    Permalink Gallery

    6 Key Points You Should Know About the Probate Process in Louisville KY

6 Key Points You Should Know About the Probate Process in Louisville KY

Probate refers to the legal process by which a person’s assets and finances are handled after they pass way.

The probate process does the following:

• Pays debts the deceased owes
• Collects debts owed to the deceased
• Transfers assets to the deceased’s beneficiaries

A simple probate process can be settled within six months after the appointment of an executor or administrator. It is usually initiated in the county that was the deceased’s legal residence when they died. If the deceased owned property in various states, there will be a probate process for each property in its particular state.

There are basic steps involved in each probate process. The process may differ somewhat depending on which state you are in.

1. Appointment of an executor or administrator

If the deceased had a will, they could name someone in it to be their personal representative. This person will be in charge or the deceased’s estate.

Tasks the personal representative would have to do on the deceased’s behalf include:

• Caring for all the deceased’s property
• Notifying creditors and the public about the deceased’s death
• Receiving payments due to the deceased’s estate, including interest, dividends and other income
• Collecting debts, claims and notes due to the deceased’s estate
• Determining the names, ages, addresses and degree of relationships to all the deceased’s heirs and beneficiaries
• Investigating the validity of all claims against the estate and paying all outstanding obligations
• Carrying out the instructions of the probate court and distributing the deceased’s assets to his or her heirs or beneficiaries.

The first responsibility of the personal representative would be to obtain the right to handle the deceased’s estate’s affairs. They would have to file a document called a “Petition for Probate of Will and Appointment of Personal Representative” […]

  • inherit a house
    Permalink Gallery

    5 Things to Consider When You Inherit a House in Louisville, KY

5 Things to Consider When You Inherit a House in Louisville, KY

Inheriting a house can be complicated. Because both emotions and finances are involved, it could potentially become a minefield.

You need to make important decisions when you inherit a house – whether to sell it, rent it, or live in it. Making the wrong decisions now could cause serious financial hardships later on or can lead to family feuds.

1.  Don’t let the house stand empty

Get someone to look after the house until you decide what to do with it. An empty house can only cause you headaches. Is there a family member or friend that could stay in it? Do you need to install a security system? You need to ensure that the house keeps its value while you decide what to do with it.

2.  Determine what the house is worth

Whether you decide to buy, sell or rent it, find out what the current market value of the house is. You can get various estimates from local realtors who are familiar with the current market conditions.

3.  Is there a mortgage on the house?

If the home is worth less than the remaining mortgage amount, you may decide to let the house go into foreclosure or do a short sale. If the value is worth more than the mortgage, you can maintain the mortgage payments if you can afford to and wish to keep the house. If you don’t maintain the mortgage payments, the lender has the right to foreclose on the property.

Find out whether the home has a reverse mortgage. In this case you can only keep the home if the estate (or you) can pay it off. If not, the bank will sell the house and you’ll inherit the remaining equity. Reverse mortgages cannot be assumed […]

Powered by WP Robot