Selling an Inherited House in Connecticut

How to Get The Most Money For Your House?

Most people who inherit a house will want to hold onto it for sentimental reasons. So we encourage you to stay in the home and live there for as long as possible if you're able. But sometimes, life happens, and things can't work out that way.

Many people sell their inherited homes quickly because they don't know how valuable they can be. However, if you take care to get the home in shape and find a good real estate agent, your house can get you several thousand dollars more than other buyers will offer!

An inherited property that's in good condition could be worth much more than you realize. If your house is outdated, broken, or in need of serious repairs, it might only bring in a few thousand dollars at most when sold on the market.

Before Listing The Property On The Market

When selling an inherited home, you'll want to ensure that all potential buyers will see your home as a place they want to live in. If you make some renovations and upgrades to the house, you may get a much higher selling price.



Even if the home hasn't been updated in years, you can make it worth more with some paint and carpeting upgrades.

Let's take a look at some things you need to be careful about when looking at inherited properties.

Capital Gains Tax

The inherited house is likely worth a little more than the previous owners purchased it for. This is called appreciation. If you sell your inherited property at a profit, you will have to pay capital gains taxes on the profits (that are based on your taxable income), and pay taxes based on the gains between the date you inherited the property and the date to you sell it.

Fair Market Value

An inherited home is usually sold as-is. Unfortunately, this means you'll have to make all the necessary repairs and upgrades on your own before selling it. If you're lucky, you will be able to recoup some of your costs when the house is finally sold, but this isn't always the case.

The property's fair market value is set at a price it would sell for on the market. So if an appraiser says your house is worth 150,000 dollars, but you need to sell it for 200,000 dollars to make a profit, you'll be unable to.

A Few Ways to Sell Your Inherited House FAST

Now that you are aware of the basics, it's time to get started!

Sell your house as is fast to a local cash buyer

The fastest and least stressful way would be to sell your home to us. After going through a divorce and the stress that brings, you may not want to work with a realtor, pay 6% of the home sale to the realtors, repair your home and make it stage ready. This process alone can take a year. Selling to us, there are no commissions, repairs and we close on average between 7-21 days. That's right, you can receive a cash payment for your home within a 30 days.

Find A Good Real Estate Agent or an Estate Sale Company

First things first, you're going to want to find a good real estate agent that you can work with. An experienced realtor will be able to give you an idea of how much your inherited home may sell for in today's market. If you feel like the price is too high, you can always negotiate with the realtor.

Pay All The Mortgages & Loans

If there are any mortgages or loans left on the home, you'll need to pay them off before selling it. If your house is paid for in full, you can sell it faster and at a higher price point. You should also get the utilities turned off if possible!

The closing costs can be a hassle, but it's much easier if they're all paid before the house is sold. The property taxes are also going to need to be paid off before selling.

Maintenance And Repairs

Once you've decided to sell, there are a few things that should be done right away. First and foremost, you'll want to hire a professional cleaning service to come in and do a deep clean on the entire property for you.

You'll also want to have any problems with the home fixed before showing it to potential buyers. A fresh coat of paint and a brand new furnace filter can do wonders for how you appear on paper!

Apply for probate

If you inherited the home through a will, the executor of the estate should apply for probate at this time. Once your inheritance has been finalized and confirmed by a judge, you should receive all ownership papers, deeds, and contracts from the house in question!

Once everything is done, it's time to take great photos and get ready for the sale.

Sell your inherited property fast.

Once everything is set and done, you'll be ready to put your house on the market for sale! You should take the time and study the real estate market in your area before setting a price for your house.

Don't be afraid to ask for advice from an agent, either. They have years of experience working with properties just like yours and should know everything there is to know about the market!

Generally, you should always be careful about estate tax when you want to sell an inherited house. You should do all the necessary procedures required before selling your house, and then you can sell it with ease.

Selling Your Home After A Divorce Has Never Been Easier

When you are ready to sell your house, it is important that you take the time to choose what's the best for you. Most clients of our that were in this situations loved working with us due to the easibility, speed and service we provided.



Don't hesitate to request a cash offer and discuss your situation with us today.

Some Popular Cities In Connecticut We Buy Houses in:

  Stamford, Waterbury, Norwalk, Bridgeport, Hartford, Danbury , New Haven, Fairfield, Stratford, Norwich, New London, Groton, Manchester, New Britain, Meriden and Many More