What to do with an inherited home?

What to do with an inherited home?

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It’s estimated that young people will inherit millions of dollars worth of property over the next few decades in Orange County, CA. If you have received a house from your parents or other member, it’s important to educate yourself on what to do with inherited homes so as to make an informed decision when selling it.

JAM Properties is a reputable real-estate solutions provider with several years of experience buying inherited property all across the region. Our goal is to equip you with the knowledge and skills you need to sell your home profitably in the market, and with minimal stress to worry about. Below are some tips we recommend when selling your inherited home:

I) Confirm you have original claim to the property

If your parents left you with a written will giving you ownership of the house, then no issues will arise during the re-selling process. However, if the document is missing and the deed to their property doesn’t include a joint ownership plan with the children then problems may arise. Any home in Orange County, CA can’t be sold with a clear title-deed until these heirship issues are resolved.

Therefore, it’s advisable to contact a real estate attorney who works directly with title companies to help prepare the necessary documents that will prove your ownership to the home.

II) Improvements to the home

By upgrading your inherited home, you stand a better chance of getting a competitive market-price for the property than when no renovations are done at all. Often, inherited homes are not furnished in the modern style of most homes in the region, and this will impact its overall pricing. At JAM Properties, we DO NOT require you to do any improvements like repainting rooms, landscaping the yard or repairing broken fixtures. In fact, we will purchase the home from you as-is, trash and all. We specialize in buying distressed properties from heirs quickly and easily. If you don’t want the hassle of having to fix up an inherited home, sell it 100% AS-IS to JAM Properties LLC. Also, since we are NOT realtors, you never have to pay commissions.

III) Property Value & Insurance

Usually, property handed over as an inheritance isn’t considered a form of income by the beneficiary. Additionally, the value of a home is calculated based on the fair market rate during its time of inheritance. It’s therefore wise to get the latest accurate appraisal of the house from experts before any listing is done, as this will ensure that you get the highest returns possible for your property.

Likewise, it’s important to take a vacant-home insurance policy to protect the house from any liabilities that may occur before the final sale date. The coverage will take care of matters such as utilities, property taxes and maintenance expenses, so that your vacant home isn’t flagged for not being fit for sale. These fees can be costly and avoided however, by simply selling the inherited property to JAM Properties quickly for cash. We can take all of the costs off your hands.

In conclusion, if you are wondering what to do with inherited homes, then the best advice is to sell it to a trustworthy real estate investment company. JAM Properties is a highly professional property acquisition firm that assures you the best prices for your Orange County, CA inherited house. We have many years of experience in the industry and know all the tips you need to sell your property profitably. For any questions or queries about our services, please feel free to contact us today.

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