What is Probate?
Before anything else, you need to understand what probate is. In West Virginia, probate is a required legal process you need to go through in order to settle the estate of a deceased person. This process covers the transferring of assets and property of the estate in question to its rightful beneficiaries or settling any outstanding unpaid taxes and debts. Probate is necessary to ensure that a decedent’s assets and properties are distributed according to their Will. If the decedent has a Final Will and Testament, the probate process will be a fairly straightforward one. If they don’t, then the West Virginia government steps in and assists in distributing the decedents assets and properties according to the probate laws in West Virginia. If there are any disputes amongst the heirs, beneficiaries, and any other parties involved, a formal probate process will commence. When this happens, a probate judge will step in, and a court will be involved in settling the estate. If there are minors or incapacitated adults involved in the division of the estate, a court must always be involved.Can I Sell a Home in Probate?
Yes, you can. But before doing so, you need to evaluate:- How much the home is worth. You can do this by consulting with a professional appraiser or check out other homes in the area which is similar to the property in question.
- If there is an outstanding mortgage. The property might have been turned over with an outstanding mortgage. Find out how much is left to pay against the mortgage on the home then compare it with how much you can potentially make from the sale.
- If there are any outstanding debts. Apart from the mortgage, you need to check if the previous homeowner left it with any debts like unpaid property taxes or liens.
- How many people are inheriting the home. Usually if you are the sole beneficiary, it’s easier to make a decision regarding what to do with the inherited property. If there are several beneficiaries, this is more complicated. All the beneficiaries are legally required to agree on a decision (whether that’s to sell or to keep the home) before moving forward.
How to Sell the Home in Probate
If all the beneficiaries agree to sell the home, the court will then assign a real estate lawyer to assist you with the succeeding steps. Then, you will need to work with a realtor who’s had experience with probate cases. Once you’ve gotten an offer from a buyer, you will need to wait for the court to approve the sale.
Sell To a Professional Home Buyer
Another option you can try is to sell the home to a professional buyer. A professional buyer such as 3 Oh 4 Investments, LLC purchases home regardless of the state or situation it’s in – including homes in probate.
At 3 Oh 4 Investments, LLC, we buy houses in Kanawha County, whatever its condition may be. We are cash home buyers from West Virginia and we’re ready to give you a fair cash offer for your property! You don’t have to wait or file any paperwork before selling to us. All you need to do is to seek for permission from the court and you’re good to go! If you want to sell your home fast for cash in West Virginia, consider selling your property to professional home buyers like 3 oh 4 Investments, LLC.
Contact us today!
If you live in West Virginia and are looking to sell your property, the experts at 3 Oh 4 Investments, LLC can help you! We are a real estate solutions company that is committed to providing our clients with a variety of real estate services.
Our goal at 3 Oh 4 Investments, LLC is to improve the overall quality of housing for the residents of West Virginia. We buy houses in just about any condition and situation, including foreclosure, late mortgage payments, or fair market value. You are in no way obligated to accept our cash offer. You can decide to move forward with us or take your chances selling the traditional way. For more information about our home buying process, give us a call at (304) 314-4341.
