Inherited House

Need to Sell Your Elderly Parents Home in Omaha, Nebraska?

December 25, 2018 • Owen

It’s come time to prepare to sell your elderly parents home. Everyone typically puts it off as long as possible, but as parents age, the cost of caring for them rises and in most cases, it’s inevitable that you’ll have to face selling your parents house. Caregiving takes its toll financially as well as physically and emotionally. Some medical expenses are covered by Medicare, Medicaid or insurance, but there is always something popping up unexpectedly. Sometimes it’s those midnight runs to the ER or urgent care than take a toll physically and prohibit you from working the hours you need to just to make ends meet.

For many, the toll of caregiving only leaves them the option of selling. As much as you probably hate to face it, you’ll likely need to sell your elderly parents home. It’s important to know how to get a house ready to sell, and how to handle the sell. You may have several questions like Do I know how to sell my parents house?  Can I put it up for sale by owner?  Or How do I sell my parents house before death?  There are plenty of questions and plenty of answers when you are in the position to sell your elderly parents home.

Can I sell my parents house before death?

need to sell your elderly parents home fast

One question that comes up a lot is, “Can I sell my parents house before death?” And the answer is yes. You can, and may need to, look at selling your parents house before they are deceased. You may need that money to help pay for their care in one way or another. You will need their consent or be named their power of attorney with specific stipulations for handling decisions pertaining to property and finances. Read this paperwork carefully and discuss it with a legal professional as there are different types of PAOs that allow for a third party to handle different types of decisions.

How can I put up the house for sale by owner?

If you want to look into the option of advertising the property for sale by owner, you will need to be the “owner.” This method may get the house sold, but it can be a long, drawn-out process for you as well as for your parents. Selling the house yourself rather than going through a real estate agency can save you some money, but then you’ve got to deal with the responsibility of handling all the marketing, finding a buyer and making sure they can handle it financially. You’ll also need to handle all the paperwork and closing costs in order make the sale.

Tips for Selling Your Parents House

tips for when you need to sell your elderly parents home

Selling your parents house can be a huge undertaking. Selling any house can be difficult, but it can be emotional and challenging when you are trying to sell your elderly parents home. Here are a few tips for those asking about how to sell my parents house.

  • What financial obligations are still outstanding?
  • Are the utilities on and are they in your parent’s name?
  • Do your parents have a will? Have they spoken with an estate planning attorney?
  • Who has power of attorney and authority for selling your parents house?

How to Sell Your Elderly Parents Home

You may still be asking Am I sure I know how to sell my parents house?  Having to sell your elderly parents home is not an easy decision and it’s not easy to prepare it to put on the market either.  When they go into assisted living or a nursing care environment, you may have to deal with a lot of stuff they cannot take with them.

How to get a House Ready to Sell

repairs for the house when you need to sell your elderly parents home

If you need to sell your elderly parents home, you may wonder how to get a house ready to sell. Typically, you’ll need to make repairs, make sure everything is working correctly, hire a landscaper for outdoor areas and just get everything in shape in general. This can be a costly endeavor as well as time-consuming. You may need to paint the house inside and out and do all sorts of things to make it marketable. Most of the time if you go through a real estate agent, they will give you a long list of the things that need to be addressed before even putting it on the market. However, before you ask how to get a house ready to sell, look at one more option. You may consider the option to sell your elderly parents home to a cash buyer.

How to get a House Ready to Sell to a Cash Buyer

Are you still asking, how can I sell my parents house before death? And how can you get it ready for a cash buyer without upsetting your parents? It’s actually simpler to get your parents house ready to sell to a cash buyer. You literally don’t need to do a thing except make a phone call. Just call the investor, or contact them online and ask them to come look at the property. They will come out and take a look at the house and make you a cash offer. When an investor buys a house, they make the purchase as-is. That means they take it just like they see it. You don’t have to make any costly repairs or make any renovations. It’s much easier than other options like going through a marketing agency or putting it up for sale by owner.

Selling your parents house is stressful. Although there are lots of ways to do it, using power of attorney takes time and money. Don’t wait for the house to get sold. If you need your parents house sold ASAP then selling to a cash buyer is your best option.

At Red Ladder Property Solutions we specialize in a quick sale so that you can get on with the more important things in life. Don’t stress out about selling your parents’ house. In the event you need to sell your parents’ house before death, give us a call at 402-578-4003. We would love to answer any questions about the house selling process that you might have.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

I Have to Sell Parents House to Pay for Care

December 11, 2018 • Owen

There are many people in a situation where they need to sell parents house to pay for care. Parents often reach the point where they can no longer take care of themselves, or it’s not safe for them to live independently and they need other arrangements. Sometimes when the elderly have the option of living in an assisted living facility, an elderly community or need 24/7 nursing care, their adult children have to sell parents house to pay for care. How does that work? What are the available methods of selling a parents house? Can you sell parents house after death, or do you need to do it before that time comes? Here are a few tips to help you with these difficult decisions.

Tips for Selling Parent’s House

sell parents house to pay for care tips

When selling parents house, there can be many details that need to be discussed. You will need to make sure if there are any remaining financial obligations and if selling the house will prevent them from getting medical housing. Whether you sell before, or sell parents house after death, these are some of the organizations and businesses you’ll need to discuss your parent’s situation with.

  • Check with the bank to ensure there are no outstanding debts or obligations
  • Contact the Social Security Administration
  • Make sure you have necessary paperwork such as power of attorney to make decisions on your parent’s behalf
  • Check the state of the will if you are going to sell parents house after death
  • Discuss the situation with the rest of the family or other interested parties
  • Contact insurance carriers or other services providers such as home insurance providers
  • If you are to sell parents house after death, check with estate planning or will planning attorneys

How to Sell a House by Owner

how to sell parents house to pay for care

Another option you may consider when you need to sell parents house to pay for care is how to sell a house by owner. If your parents are able, and they own the property, this option might work. However, many times when someone needs to sell parents house to pay for care, this is not a viable option. If, however, your parents gave you power of attorney and the legal right to manage and sell their property, you would have this option. However, if you want to use the sell a house by owner option, then you will be doing all the work yourself instead of hiring a real estate agent. There are some benefits to doing the process yourself, but if you don’t know what you are doing, or how to market the house so it will sell, then you may be biting off more than you can chew. You could get stuck sitting on the property indefinitely trying to find a qualified buyer and paying out of your own pocket for your parent’s care. For most people who need to sell parents house to pay for care it is not the best option available.

Can I sell my Parent’s House After Death?

You may also find yourself in a situation where you need to sell parents house after death. If you have power of attorney and the legal right to do so, you can sell parents house after death. But if you don’t, it could end up in probate and take you an extremely long time before you finally end up selling your parents house. It’s much easier in most cases if you can end up selling parents house before they pass away. It can be more complicated to figure out how to sell a house by owner once they are deceased. This is especially true if they did not deed the house to you before their passing, or you did not inherit the house in their will. But if you either inherited the house, or they deeded it to you, it’s much simpler and you may be asking, “How can I sell my house for cash?”

Can I sell my House for Cash or sell parents house to pay for care?

sell parents house to pay for care to cash buyers

If your parents willed the property to you, or deeded it to you, or just gave you the legal power to sell you may be asking, “can I sell my house for cash?” The answer is yes. Selling parents house for cash is often the best choice you have available if you need to sell parents house to pay for care. It’s easy, it’s fast and there’s no hassles involved. You don’t even have to spend the time fixing the house up if you choose to sell it to a cash buyer. There’s no staging, there’s no repairs and you don’t have to wait for a buyer to qualify and secure all the needed paperwork. An investor will make an offer and if you accept it, they will pay you cash on the spot. They also help get all the paperwork done so there’s no waiting for closing. So, if you wondered if you could,” sell my house for cash,” the answer is Yes!

Sell Your Parents House Fast and Simply

Selling your parents house is stressful. Although there are lots of ways to do it, using power of attorney takes time and money. Don’t wait for the house to get sold. If you need your parents house sold ASAP then selling to a cash buyer is your best option.

Here at Red Ladder Property Solutions we specialize in closing on houses quickly so that you can move on to more important things in your life. Selling a house has a lot involved, but not if you’re selling to us. You don’t have to repair your home, we’ll buy it as-is! Have a question about the process or want to get your no obligations offer today? Give us a call at 402-578-4003. We’d love to talk to you!

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Can I Sell My Parents House Before Death?

November 27, 2018 • Owen

When parents age there needs to be some changes made. It often means that the kids have to attend to this. One of the factors may be that I have to sell my parents house before death. This is a big task for you. It is not one that you do everyday. So it is not one that you are familiar with. The sell my parents house before death task is one that many people face.

Sell Your Elderly Parents Home

sell my parents house before death when they're elderly

Selling parents house means that you have a lot to learn. First, you have to know what options are available to you. I have to sell my parents house before death may mean fewer legalities. It is when it’s compared to selling your parents house after they have passed away. This usually means even greater legal issues.

You have some decisions to make  to sell your elderly parents home. It includes which options are you going to pick to sell my parents house before death.

Sell My Parents House Before Death Preparations

Before thinking about selling the house, it has to be ready for sale. For several of the house selling options you have no choice but to do this. Most home buyers will want a home inspection done. If you don’t do the repairs it may not pass inspection. There will be some disappointments when potential sales fall through. All because it didn’t pass inspection. This brings another challenge for you. Now you have to do the repairs which may be unsettling for your parents. Then there is going to be a cost involved.

Legalities for the can I sell my parents house before death question

sell my parents house before death and other leagalities

Added to all of this are the legalities. Permission has to be obtained in answer to the question can I sell my parents house before death. You may need the power of attorney for them. It is a legal document that allows you to act on their behalf.

Sell House By Owner Options

You may be familiar with the sell house by owner option. For awhile it became quite a trend. After seeing how difficult it can be many people no longer try. Still you need to know what it entails. You need to look at all the selling parents house options.

You may decide that to sell my parents house before death this is the best method. Perhaps you are looking at it as a way to save money on real estate fees. It is true that you can do this. But chances are you will have higher legal fees.

There are a lot of legal documents that come with selling a house. If these are not prepared in a proper manner  it can cause problems. It could cause the sale of the house to fall through. It may mean you need to hire a lawyer to do extra work. This is the work that in normal situations the realtor would do.

You also have to accept to sell my parents house before death that this option is difficult. It means you will be the one that always has to be on call for showings. Plus, you are going to have the task of marketing the house. This is time consuming. Plus, it takes a certain amount of expertise. You don’t have all the resources that the real estate agent has. Then added to this is how to set the price. You want a fair price when you need to sell my parents house before death. Chances are they need the money from the sale to live on. They are going to have to move. Finding new accommodations costs money. You need to decide if you have the time and expertise to see my parents house before death. If you are going to use this option.

Using a Real Estate Agency

sell my parents house before death with a realtor

Think about using professionals. It is another option to consider for the sell my parents house before death task . It means now relying on a real estate agent. This will help with some of the burden of selling someone else’s home. For the most part they will look after the marketing. Plus, they look after a lot of the legal paper work.

There are going to be several downsides to this. Your parents may feel unsettled. They have a stranger looking after some of their affairs. This unknown individual is going to be bringing strangers through their home. Then it could take weeks or months for the sale. During this entire time it is stressful for your parents.

The Sell House for Cash

There is one more option for the sell my parents house before death task. It the sell house for cash opportunity. There are professionals investors that are willing to pay cash for the house. In this situation a cash deal may be perfect.

It means that there won’t be any strangers coming through the home to view it.  It eliminates the needs for the repairs that may need doing. Cash buyers will not expect the completion of any repairs . This is a huge relief because it cuts down on the disruption to your parents.

Your parents are now going to have to move somewhere. It may mean they need cash to do this. Buy using the sell house for cash there are no mortgages that need arranging . Which can often be a problem with other buyers.

Then there are the savings  on the real estate costs.  The legalities for selling the house this way are far less of a burden. It can mean a lot less cost in lawyers fees.

The transition that takes place with the sell house for cash is smooth and hassle free. It creates the ideal situation for your parents. For you the sell my parents house before death is a problem solved. You no longer need to worry about where you are going to get the time to do this. Plus, you don’t have to educate yourself about home selling. Your parents don’t need to stew over about what is going to happen to the house. Having cash offered to them may be a great incentive for them.

The cash offer can help to offset the disappointment they may be feeling. It can be upsetting for them to leave their home. The cash is going to give them something to look forward to. There are no worries about home buyers coming back with complaints. Nor is there the frustration of having to deal with real estate transactions. Especially when they  that tend to fall through.

Need to Sell Your Parents’ House Now?

sell my parents house before death to cash buyer

At Red Ladder Property Solutions we specialize in a quick sale so that you can get on with the more important things in life. Don’t stress out about selling your parents’ house. In the event you need to sell your parents’ house before death, give us a call at 402-578-4003. We would love to answer any questions about the house selling process that you might have.

 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Can You Sell a House Without Probate in Nebraska?

March 30, 2017 • Owen

In this article, I will explain everything you need to know about selling a house without probate. We will also look at how probate works, how you can sell a house before and without probate and how Affidavit of Heirship, Small Estate Affidavit and Judicial Determination of Heirship work.

But, first thing’s first.

What is a probate?

First, let’s look at what a probate sale means.

The dictionary identifies several meanings of the word probate, however, in our case, it’s a method of administrating a property after you die.

House with a lot of windows. Can You Sell a House Without Probate?Probate is used to transfer your property in an orderly matter.

Is selling a house without probate possible?

Yes. Your will determines the transfer of your estate during a probate. If you don’t have a will, the transfer is decided by the laws of your state – and that’s when you are able to avoid probate. In this article, I define 7 ways you can avoid probate and sell your house fast.

Beautiful view of clouds and houses.

How does a probate work?

N. Brian Caverly and Jordan S. Simon defined four processes to a probate:

  • Swearing in your personal representative
  • The public and heirs are notified you are dead
  • Your property goes through inventory
  • Your estate is distributed

So how can I get away with selling a house without probate?

Selling a house without probate is a lot easier than you think.

A real estate agent might often tell you that your house cannot be sold unless it’s probated. They are WRONG.

Selling a house without probate is possible and it is, in fact, very common.

Houses with a lake and a forest

SFgate identifies four ways of selling a house without probate:

Trusts

If you’re lucky enough and the decedent placed his property in a living trust, you will avoid probate. If you are named as a trustee, you are able to sell the house without probate court approval.

Jointly Held Real Estate

In California, joint tenancy is free of probate. If you are the executor and the co-owner of the property, you are also free of probate and have full authority after solo ownership.

Independent Administration of Estates Act

Independent Administration of Estates Act doesn’t really avoid probate, at least not completely. Instead, you are able to avoid probate under specific circumstances. 90% rule applies – as the executor, you can sell the house for at least 90% of its value. However, you must give notice to those interested in the property and get an approval from the court. This is bypassed if the deceased clearly states that you are solely responsible for the property after his or hers death.

Summary Probate

Properties of a smaller or limited value can be appraised and filed for a smaller affidavit instead. Depending on the state, these values may differ.

house on wooden background

Do you live in Nebraska?

Here are three more ways you can sell a house without probate in Nebraska.

Affidavit of Heirship, Small Estate Affidavit and Judicial Determination of Heirship

Affidavit of Heirship

You can use Affidavit of Heirship when your loved one died and didn’t leave a will, however, you are still left with a property.

In the case of no will, the probate is not needed. Just file the Affidavit of Heirship and sell your house FAST.

The Affidavit of Heirship requires two witnesses who must swear under Oath. The two witnesses must:

  • State they knew the deceased
  • The date and place of death of the deceased
  • The relations to the deceased
  • A statement of the deceased’s debts
  • A statement that they will not gain financially from the property.

Small Estate Affidavit

The Small Estate Affidavit is filed in the same country in which the Decedent resided during the time of their death.

Along with the same information as was stated in the Affidavit of Heirship, the witness must also provide signatures of all heirs and two objective witnesses.

Please note that this option will only avoid probate if the property value is less than $50,000.

Judicial Determination of Heirship

If the deceased hasn’t left a will, Judicial Determination of Heirship can also be applied. In this case, the court acts in charge and determines the heirs, which can often resolve in a distribution of the property among these heirs.

Out of the three options, the Judicial Determination of Heirship is the most time-consuming and the most expensive. You will have to file an application with the Probate Court, the Court will appoint an attorney who will investigate the identity of the heirs and schedule a hearing once the procedure was done.

When someone dies without leaving a Will, the Court can conduct a formal Determination of Heirship. During this process, the Court will make a formal declaration as to the identity of the Decedent’s heirs. Pursuant to that declaration of the heirs, the Decedent’s property can be divided and distributed among the heirs.

Ready to sell?

Red Ladder Property Solutions, located in Omaha, will give you a cash offer on your property in less than 24 hours of making a request. As a bonus point, your property can be sold in less than a week.

We buy houses in the Omaha area. If you need to sell your Omaha area house fast and would like to get a no-obligation cash offer, call us now at 402-578-4003. Whether you decide to sell your house to us or not, Red Ladder Property Solutions would like to help answer questions you might have about the process.

Categories: Inherited House

What is an Affidavit of Heirship?

March 16, 2017 • Owen

Wondering what is a Nebraska affidavit of heirship? In this article, I’ll explain what it means and how it’s used to sell an inherited house when a will does not exist. I will also provide you with several affidavit samples you can use to draft your form.

signing affidavit of heirship

What is a Nebraska affidavit of heirship?

A declaration and an identifier of the heirs of a deceased person. As simple as that. With an affidavit form, you are able to claim the ownership of a property as well as vehicles – in fact, it works for any personal property, regardless of its size or functions. Nebraska affidavit of heirship estates code  form is your ticket to selling a house FAST, without a will. Freedom is waiting for you!

When do you use it?

Let’s say a family member or your loved one has passed away and left no will. You think a personal property belongs to you, but how do you prove it? Nebraska affidavit of heirship estates code allows you to prove ownership without having to go through probate, as long as you are able to distribute the personal property between other possible heirs if such exist.

Here’s how the state of Texas deals with affidavit cases and what the witness must know before filling the form:

  • The deceased person’s name and his or hers date of death.
  • Family names and names of all heirs.
  • Any outstanding debts of the deceased.

Green door and a green window. What is an Affidavit of Heirship?

What goes in the affidavit of heirship form?

Here are some things you must include in your form. These things might be different depending on each state – please make sure you visit sites such as LegalMatch to get full information on your state’s laws.

SupremeCourtBC identifies 7 parts to the form:

  1. Style of proceeding
  2. Deponent’s statement (“deponent’ is the person making the affidavit)
  3. Knowledge statement
  4. Body of the affidavit (this is the most important part of the affidavit)
  5. The affidavit ending
  6. Exhibits
  7. Backing sheet

Yes, but what do they mean?

Let’s look at them closely.

Style of Proceedings

Style of proceedings is located on the first page of all legal documents. The first thing you absolutely have to do is state the business as well as the file number and court registry name.

The top right corner must include the affidavit number, deponent’s name and the date. You must also make sure to clearly swear under oath that you are telling the truth.

Deponent’s Statement

Deponent’s statement includes your name, full residence, occupancy (those who are retired or not working at the moment, must state that in the form as well) and your oath.

Knowledge Statement

As much as the term might sound confusing, the knowledge statement simply provides the judge of confirmation – you know what you’re talking about and acknowledge all information in this form. You must also state your business – are you the defendant, respondent, petitioner or plaintiff?

Body and ending of the affidavit

The body is the most important part of the entire form, however, it should be kept simple, organized and short. Your judge will be as equally impressed if you are able to express your needs in the simplest way and keeping it simple also means less work for you.

To keep your affidavit organized, stick to a chronological order – the judge will clearly see the timeline of events and will be able to make the decision easily.  Make sure you use a person’s name instead of using personal pronouns.

And, of course, keep it short. Having a long affidavit means the judge will take longer to process all necessary information – edit it down as much as possible, but still ensure everything needed has been said.

MY TIP: Speak to your lawyer. They will tell you what you should add in and give you sound personal advice that will work for you.

Exhibits

This is where your letters and important documents go. Your exhibits must be alphabetised instead of numbered – exhibit 1 becomes exhibit A, exhibit 2 becomes exhibit B, and so on. These letters are best to be put in the middle of the page. You must also include an exhibit stamp, which you can get at most law firms – do this after you see your lawyer.

Backing Sheet

Here’s what you must include in the backing sheet: the style of proceedings, the description of the document and your name, your address, email address, your phone number and your fax number, if applicable. Please note that a backing sheet is optional, however, it will help the court file your document and not lose it.

Vintage blue car in front of a house with a gate. What is an Affidavit of Heirship?

Do you have some samples of the affidavit of heirship form?

To make sure your form is effective, please refer to the steps above – I can guarantee these tips will help you when you’re dealing with selling an inherited house without an existing will.

Here is a sample extract, fully available on FormsBirds:

“I,   (INSERT NAME)  of lawful age, residing at   (INSERT RESIDENCY) , being first duly sworn, upon oath deposes and says: That affiant was personally well acquainted with the above-named decedent, during his (or her) lifetime, having known him (or her) for years, and that affiant bears the following relationship to said decedent, to-wit..”

There are different ways to write your form. Here is another sample extract, fully available on Vernon E. Faulconer, Inc.

(YOUR FULL NAME) , whose address is (INSERT RESIDENCY) hereinafter referred to as “Affiant,” being of lawful age and being duly sworn, upon oath deposes and says that (s)he was well acquainted with  (THE NAME OF THE DECEASED), hereinafter referred to as “the Decedent,” and that the answers and statements given in the following questionnaire are based upon (YOUR FULL NAME) personal knowledge and are true and correct:

Depending on where you live, Nebraska affidavit of heirship might require a waiting period, which can sometimes take up to a year after the death of your loved one. Please make sure you fully speak to your lawyer who can help you figure out what the laws of your Nebraska affidavit of heirship is.

Categories: Inherited House

Can You Sell a House Before Probate in Nebraska?

March 2, 2017 • Owen

Selling a House Before Probate

Many residents of Nebraska find themselves looking for information about selling a house before probate. This is either because they have inherited a house through a will or have been named as executor in this document.

Can you Sell a House Before Probate in Nebraska?

This is a situation that raises the need to find answers to several important questions. One of those important questions is “can you sell a house before probate is granted?”

Can You Sell an Inherited Property Before Probate?

Individuals who ended up with an inherited home often can’t or don’t want to keep it. It could be their parent’s home where both parents are now deceased. One option is to put the house on the market but the question is, “can you sell an inherited property before probate?”

If a will exists chances are a family member who is close to the deceased is aware of this important document. It may be that a particular person is named as the executor in the will. The executor has the duty and obligation to see that the last wishes as outlined in the will are fully carried out. If a property is involved in the estate, such as a house, this most likely will have to go through a probate process.

Selling a house before probate.

Individuals who have inherited a house may not realize that it has to go through a probate process. They may attempt to put the house on the market for sale. If they use a Realtor to attend to this, an experienced agent will know that the house must go through the “selling a house before probate” process. This is in order for a sale to be legal.

The probate laws are in place to ensure that the wishes of the will are carried out as intended. This is the main reason why selling a house before probate is not allowed in many states.

Luckily, in Nebraska there are some controlled exceptions to this. There is an alternative to going through the standard probate procedure. This is using a process called “Muniment of Title”. This is applicable when a will was left but there were no debts secured by real property. This alternative process is done by validating the will in a local county court. Once this court has approved the validation, property titles can be transferred to the beneficiaries.

There is also an alternative that should be looked at in Nebraska. This is for those who are looking at selling a house before probate. This is called Affidavit of Heirship. This can be utilized if the property in the estate only amounted to real property, i.e., a house or houses.

Probate laws and selling the house before probate

With this process, the property titles are transferred to the heirs. It involves two individuals who have nothing to gain from the estate sign the affidavit. Once this is done this document must then be filed with the deed record department in the local county where the house is located.

Can You Sell A House Going Through Probate?

The next question that often is raised is can you sell a house that is already going through probate?

It may have been discovered that selling a house before probate is not allowed in many states. It is important to really know the laws of the state in which the house resides.

In Nebraska for example, the answer to the question of whether you can sell a house going through probate is yes. There are specific steps that must be taken in order for the sale to be legitimate.

Getting a property appraisal

The property has to be appraised by an independent certified appraiser. Often an experienced realtor in probate sales will be able to recommend one.

Getting the petition

For the probate petition, it requires some information to be filled in. This applies to both selling a house before probate and selling one during probate. This includes all the details that pertain to the proposed sale. You may also have to outline the method in which the home will be sold. Once completed properly and submitted to the courts you then have to wait for court approval. A sale before this petition will not be considered valid.

This answers the question can you sell a house before probate is granted. It also shows that when it comes to Nebraska like the other states there are specific rules that must be followed.

texas probate laws

Putting the house on the market

Potential buyers must be told that a sale can only be finalized after court confirmation.

Court Confirmation

Buyers will have to obtain confirmation of the sale from the court handling the probate case.

Local Newspaper advertisement

The public must be informed about the sale that has taken place during the probate period. This is done by running an ad about this in the local newspaper.

Can An Executor Sell A House Before Probate?

Individuals who become an executor  may find different types of property that need to be dealt with.

They first have to understand what their role as executor is.

Being an executor doesn’t mean this individual inherits any of the property. Sometimes an executor is named by the deceased. At other times may be appointed by the courts.

In most cases, probate is needed. If so then the executor or executrix must attend to this either doing it himself or retaining a lawyer to do it.

One of the questions raised by an individual with this responsibility is, “can an executor sell a house before probate?”

It may be that the inheritors of the will want the sale of the house done quickly so they can receive their share of the sale that was allotted to them through the wishes of the will.

Throughout most states, the probate rules and regulations are pretty much the same. There are some differences that do exist in some of the states about selling a house before probate.

Nebraska for example, is considered to have easier rules to adhere to when it comes to probating.

In Nebraska, the will can direct the executor to go after independent administration. This makes the process much easier. It gives more freedom to the executor outside of the control of the court.  If this is granted the executor does not have to ask permission from the court to sell the house named in the will.

Sell Your House Fast in Omaha to Red Ladder Property Solutions

If you want a fast cash offer to buy your Omaha house, click here to get started: get a cash offer within 24 hours.

Sell Your House to a Cash House Buying Company

Another option is to sell your house to a house-buying company. This gives you the best of both worlds! You won’t have to worry about any repairs, you save on commission costs and you can receive a quote in just 24 hours.

Red Ladder Property Solutions gives you a cash offer within one day and you can close it whenever you want. Your house can be sold in a week!

If you need to sell your Omaha area house fast and would like to get a no-obligation cash offer, call us now at 402-578-4003. Whether you decide to sell your house to us or not, we would like to help answer questions you might have about the process.

 

Categories: Inherited House

What is Probate on a House in My Area?

February 23, 2017 • Owen

Introduction to Probate on a House in Nebraska

If you have inherited a house, or became an executor/executrix of a will, you need to know what probate on a house is? This is a legal process.

What is Probate on a House in Nebraska?

Probate on a house is intended to prove that the will outlines the last wishes of the deceased. If claims against the will arise they will be dealt with through the probate process.

Probate on a house is carried out through a probate court. This court determines if the will is valid. It also verifies the executor has the authority to carry out the wishes of the will. It also gives authority to the executor or inheritor to conduct the probate house sale process if desired.

Probate laws can vary amongst the different states, but usually have much in common.

There also can be some differences. It is important that real estate agents in Nebraska, or any other state, involved in this type of sale understand these laws.

Selling a House in Probate Decisions

Often the individual who has inherited the house has some mixed emotions when it comes to selling the home.

It could be that it is the home that they grew up in. Now that the parents have passed there is no need for the individual who inherited it to keep a second home.

Probate laws in Omaha, NE.

Still, having to sell the house can be difficult because of the emotional attachment. Then having to go through a probate case, which is a legal undertaking, adds to the stress.

During this time, it is important to be able to rely on the right professionals. They can walk you through the entire process with as little stress as possible. You will need a probate lawyer to handle the probate legalities.

Then you should also rely on a Realtor that has experience with probate house sales.

If you prefer to sell the house quickly, you should get an offer from a local house buying company.

The Probate House Sale Process

The process of probate on a house determines the authority to handle the probate house sale process.

If there is a will then the probate courts determine the authority according to the will.

Without a will then it will be the person filing for probate, or an Administrator volunteer. During this process, those involved must deal with the person who has authority to sell.

First, the probate on a house legalities are attended to. Then the selling a house in probate format is basically the same as any house sale.

The main focus has been on the title issues because of the owner’s death. Now standard sales issues have to be addressed if there are any. These include issues with easements and encroachments.

Or, there could be problems with encumbrances and mortgages that need to be dealt with.

Just like with any standard home sale any repairs that are needed should be attended to.

If this is not possible, then when determining the sale price this should be taken into consideration.

The need for repairs could become a concern during the home inspection. There is a lot to be considered with the probate on a house process and its sale.

Setting the Selling Price for the House

Setting the selling price for the house on probate.

As with all laws, there are acts that dictate how they must be applied. It is the executor who sets the asking price for the house.

This is in accordance with the Administration of Estates Act.

This individual will have the experience of knowing what the house is worth. His opinion will be based  on the current market value for the home. This will be according to comparable value to other homes in the area and its current condition.

Once the price has been agreed upon, it is then listed with a Realtor, or sold to a cash home buyer. This is all just part of the probate house sale process.

Marketing the Property For Sale

A Realtor that is experienced with probate on a house legalities will see that everything is in order. This is done before marketing the property. The marketing process for selling a home in probate is done the same way as any home sale.

Advertising, signage, and multiple listing opportunities will be taken advantage of. The agent will also schedule and attend to the home showing appointments.

What is Probate on a House in Nebraska?

If you’d rather avoid going through all of this, you can skip it by calling us to get a no-obligation cash offer to buy the house as-is. Call us at 402-578-4003 today and we can get you an offer within 24 hours.

Offer acceptance

Any offer that is being considered must be at least 90% of what the Probate referee has appraised it at. If this is the case, then negotiations can continue.

A Notice of Proposed Action has to be mailed to the heirs. This is if the offer has been accepted. This is in compliance with the probate selling laws.

Objections must be filed within fifteen days. If they are not, then no court hearing will be held.

Notice of the sale may have to be published in a local newspaper. This is if the executor or Administrator does not have full authority under the IAEA. The same applies if there has been an objection by one of the heirs.

The estate lawyer will apply for a court date for the sale execution.

Probate on a house has a lot of rules that must be followed and the process can be time-consuming, but if it is handled by the right professionals, then in most cases it goes smoothly.

Avoiding Probate on a House

If you end up with a house inheritance and have to deal with a probate house sale process, it may get you thinking. You may be worried about your personal situation. You don’t want to put your loved one through the same stress of selling a house in probate.

Avoiding probate on a house in Nebraska can be accomplished with some preventative measures. Instead of looking at leaving the standard type will take a look at writing a Living Trust. Your house and other assets are left to a trust. This puts a trustee in authority over them, on behalf of the beneficiaries. This way the house will not have to be probated because it has already come under the authority of the trust.

Another advantage of using the trust is that it eliminates the cost of having to go through a probate. This is a big advantage. Often the fees associated with the probating of a will are based on a percentage of the entire estate.

These are all important factors that you will want to consider when you are seeking out the answers to the what probate on a house is in Nebraska question.

Summary

When you are involved in a probate on a house you should first begin to fully understand what it entails. Then know which professionals are going to help you the most. Choose experienced experts that can help you through the entire selling a house in probate process.

Sell Your House Fast in Omaha to Red Ladder Property Solutions

If you have probate on a house that the estate is considering selling, why not get a cash offer from Red Ladder Property Solutions in Omaha?

Red Ladder Property Solutions is in the Omaha area so he can make you a cash offer within 24 hours. In just a few days, you’ll be free of your house and able to move on with your life. You’ll have quick cash and can immediately begin prioritizing your financial goals. This is how to sell a house fast in Omaha.

Sell Your House to a Cash House Buying Company

Another option is to sell your house to a house-buying company. This gives you the best of both worlds! You won’t have to worry about any repairs, you save on commission costs and you can receive a quote in just 24 hours.

Red Ladder Property Solutions gives you a cash offer within one day and you can close it whenever you want. Your house can be sold in a week!

If you need to sell your Omaha area house fast and would like to get a no-obligation cash offer, call us now at 402-578-4003. Whether you decide to sell your house to us or not, we would like to help answer questions you might have about the process.

Categories: Inherited House

Inheriting a House in Omaha, NE

February 16, 2017 • Owen

Inheriting a house is a bittersweet experience. While you’ve gained new property that can drastically improve your standard of living, you’ve also lost a loved one. Making rational and financially sound decisions while you’re grieving can seem impossible, especially if you’re inheriting a house from a parent.

Yet, with knowledge, guidance, and a little planning, you can make positive life changes in the wake of a heartbreaking loss.

inheriting a house in san antonio

Inheriting a House

When you inherit a home you’re suddenly faced with a multitude of questions you may not be prepared to answer. How do I claim my inheritance? What do I do with the property if it’s in poor shape? Should I move into my loved one’s home, or should I sell it?

Be prepared to commit to many financial and emotional decisions you make when inheriting a house.

Obtaining your inherited property is a straightforward process but can seem overwhelming to those not familiar with it. Before deciding what to do with your inherited house, the estate must go through probate.

Probate is the legal process for settling an estate, usually involving lawyers and other seasoned professionals to help transfer assets and pay off debts. Most states allow a summary probate to occur; this is an expedited process that avoids litigation.

inheriting a house with brick walls

However, that option is for smaller estates – those not exceeding more than the state laws allow. Many estates with property exceed the proposed maximum and must suffer through the regular probate process.

After your inherited property passes probate, it’s yours to do with as you will. But what should you do when inheriting a house? Most heirs have three options: move into the property, transform it into an investment property, or put it on the market. Although all options can be beneficial to a benefactor, evaluating your inherited property will allow you to choose the best one for your financial future.

Moving into an inherited home appeals to many heirs. The property can hold sentimental attachment if you’re inheriting a house from a parent. You also might want to hold onto the property if you’re already a renter and the inherited home is an upgrade to your current residence. However, moving into your loved one’s home isn’t a realistic option to those already paying a home loan, or happy with their current house.

Inheriting a house that is paid off might lead some heirs to travel the rental route. This happens a lot when it comes to houses inherited in Omaha.

Renting out property can often generate income. But the expenses of maintaining a rental can be overwhelming to new landlords.

Not only do landlords pay for the upkeep of the property, they often need to update an inherited home before renting it out. Old homes can seem outdated to potential renters, so placing a tenant in your inherited home might isn’t guaranteed. Unless you’re willing to take a major risk, the reward for converting your inherited home into a rental property isn’t worth the headache.

Inheriting a house and selling it may be your best option after the initial home evaluation.

Just be careful of the unknowns.

Selling the property not only allows an heir to pay off any debts accrued by the decedent, it also gives the heir freedom from making major repairs that can be costly. If the property needs too much work, selling as-is to an real estate investment firm offers a speedy resolution to a money hemorrhaging home. Getting an inherited home into selling condition might take time, but it offers the smallest amount of risk with the biggest reward.

 

Inheriting Expenses

Inheritance comes in all shapes and sizes. Along with a home, your loved one can leave almost anything behind in a last will and testament: family heirlooms and collectibles, vehicles and motorboats, and sums of money. But did you know the decedent can leave behind unexpected expenses too?

Most heirs don’t realize that inheriting a house and taxes go hand in hand. Although state tax rules and exemptions fluctuate, expect to pay a little something to Uncle Sam once you claim an inherited property. Heirs benefit from a stepped-up basis; they inherit the home at fair market value at the time of the decedent’s passing. This means you’re only taxed on the home’s appreciation after inheriting it. If you make minimal improvements to the property and sell it quickly – with a home buyer for instance – you may avoid a capital gains tax altogether.

inheriting a house with a balcony

What about inheriting a house with a mortgage? Does an heir assume those expenses when claiming the property? The short answer: you only assume a mortgage on an inherited home if you decide to move in or rent it out. If you decide to sell the property during the probate period or soon thereafter, the mortgage can be paid off with the profit of the sale.

On the other hand, if you’ve decided to keep the house, you must transfer the mortgage over to your name and continue payments within the lender’s specified time frame or risk foreclosure. Sometimes an added home loan payment helps heirs choose to sell their inherited house.

Even if an heir decides to sell an inherited home, the property still requires paying for even more expenses. Until the house is sold, expect to pay property taxes, liability insurance, utilities, and general upkeep for maintenance monthly. Unless you have money saved to keep your loved one’s home, these financial burdens can be devastating. Inheriting a house and selling it might be the best option for a property that costs too much to manage.

Inheriting with Siblings

Managing an estate can be complicated when doing it alone. Inheriting a house with a sibling can be much more difficult. If all heirs agree on what to do with the property, the process can be smooth. But what do you do when you and your siblings cannot compromise?

All assets must be divided evenly when inherited to multiple people. This includes property. If the decedent leaves a home to more than one heir, each heir has equal rights to the property. These joint-heirs are considered tenants in common. While each sibling owns a percentage of the property, they’re all entitled to use the entirety of the home. This can be an ideal situation for amenable heirs, but what about siblings that aren’t willing to share?

inheriting a house on a lake

Get all the options out on the table with family members,” offers Richard Koreto, contributor to realtor.com’s blog, House Logic. “There may be a creative solution” to an heir disagreement. If a compromise cannot be made, judicial action can be taken but is not recommended. It’s divisive, expensive, and time-consuming.

Losing a family member is emotionally draining. Processing your loved one’s will and sifting through legal documents can add stress to an already anxiety-inducing ordeal. But understanding the litigation and knowing your options might alleviate some of this stress. Inheriting a house in Omaha, NE doesn’t have to be another financial burden. With the right guide and careful planning, you will know how to handle your loved one’s property with ease.

We Buy Inherited Houses in Omaha, NE

Red Ladder Property Solutions buys inherited houses in Omaha, NE and can make you a cash offer within 24 hours. You can sell your house fastreally fast. We can close within a couple days if needed. Give us a call today at 402-578-4003 to find out what we can pay for the house. There is not cost for us to make an offer and no-obligation. Why not find out if this option is the right one for you?

Categories: Inherited House

Selling a House in Probate in Omaha, NE

February 9, 2017 • Owen

Quite often individuals are left with a family home as a result of the passing of a loved one. This means you’ve likely inherited a house.

In many cases, this means that it is a second home and not one that they wish to keep so they want to sell it. When the Will is going through probate, the heirs often want to sell the house…even while the house is in probate..

Unfortunately, selling a house in probate is not an easy process and can be lengthy and somewhat frustrating.

There are cases where you can sell a house without probate.

selling a house in probate

Selling a House While in Probate

The individual that will be responsible for seeing that everything that has been outlined in the will is carried out will be the administrator or executor. The executor will be the one that has been named in the will to act as such, and if no one has been named then usually the closest relative is appointed to the administration position which can be done by the court or other close relatives.

Selling a House In Probate

When selling a house in probate it has to go through a series of steps that are regulated by the courts. These regulations may include deadlines as a well as documentation that has to be paid close attention to through the entire real estate in probate sale process. There are many details involved in.

Other individuals that may be involved in the sale of the home is the appraiser, the realtor, and an attorney as well as the courts itself.

deciding on selling a house in probate

Selling a House Before Probate Is Granted

When it comes to selling a house in probate the value of it has to be determined first. This is done through a proper appraisal and most often the realtor that you choose to handle the sale of the property will be able to recommend a proper appraiser. The rules are that the property must sell for at least 90% of what it is being appraised at.

It may not always be necessary to have an independent appraiser as some Realtors are experienced in probate and trust sales, and are considered credible when placing a value on the house. This agent will then usually carry through with listing the house for sale.

You can then go through with. A probate sale is granted beginning with this step.

Selling a House Once Probate is Granted

The big responsibility for selling a house once probate is granted partly becomes the responsibility of the chosen Realtor. This professional will work on this by using many different resources.

It usually involves different segments which include the proper signage as well as different types of advertising placed in different media’s.

In addition to this, the Realtor will hold open houses to encourage other real estate agents and potential buyers to attend. Then when viewings are set up the Realtor will attend to the showings.

These are all important steps that help when selling a house in probate.

Selling a House After Probate

Quite often potential buyers are looking for a cheap buy when it comes to a home being sold in probate.

want to be selling a house in probate

What has to be remembered is that there are court rulings in place regarding the sale, which is the offer has to be within the 90% of the sale appraised value. The Realtor again will play a big role here in making sure that the seller is able to negotiate the proper terms that are going to fit in with the requirements for both the buyer and the seller. Selling a house after probate allows the executor or administrator to enter into the necessary contracts.

Once this has been completed and the offer has been presented and accepted, then the court requires a notice of proposed action to be mailed to all the heirs that were named in the estate. This allows the heirs  15 days to present any objections that they may have. If none is raised, then the sale can go ahead without the necessity of a court hearing. This is where it can sometimes become frustrating for those selling a house in probate.

what to do when selling a house in probate

In some cases when selling a house in probate it may be mandatory that the notice of the sale is published in a local newspaper. This could be because the executor or administrator did not have all the powers necessary as stated under the IAEA, or an objection was lodged by one of the heirs.

A court date has to be set for the confirmation hearing which usually takes place between 30 and 45 days after filing of the application and the details again may be mailed to all parties concerned. During this time the realtor will most likely continue to show and advertise the property as there may be an opportunity to increase the sale price.

It is not unusual, for sometimes during the court confirmation hearing when selling a house in probate, the original bid that was accepted becomes overbid by someone else that is interested in buying the home. If this happens the party coming in with the second or higher bid has to attend at the hearing and bring with them a cashier’s check. The amount of this check must be at a minimum of 10% of the offering price they have placed on the home.

If it turns out that there are more than one over bidders then the outcome is, the bidder with the highest bid is awarded the purchase of the home. What happens is that this a bidder submits the cashier’s check to the executor or administrator. This money is then held in escrow for a period of time, which is usually 30 to 45 days following the court hearing.

get cash when you're selling a house in probate

Selling a House Without Probate

There are some stipulations within the estate law that do allow for selling a house without probate. Normally the executor or administrator of the will doesn’t have the necessary authority to sell a house unless probate is in place. Probate may be possibly avoided if the deceased placed the home in a living trust while still living.

It is really important that the proper professionals are chosen to assist you through the probate sale as it can be most complicated and it is taking place at a time where family members are going through the stress of losing a loved one, and this is just a added burden for them to have to attend to. When the process is followed properly it usually flows in the proper manner and the big concern is having the right realtor on board to get the price that has been placed on the home by being pro active and energetic in their selling responsibilities.
Want to find out more? Here’s an article we have that shows you how to sell an inherited house.

If you want to know your options when inheriting a house, read this article.

Cash offer?

Find out whether you can get a cash offer to buy the house in probate. We buy houses cash in Omaha and can make you an offer. We have experience with helping people sell a house fast even when it is in probate or about to go through the probate process.

If you have any questions about how this works, please call us at 402-578-4003. We’re here to help…even if you decide not to sell the house.

Categories: Inherited House

Inherited a House? Here Are Your Options!

February 2, 2017 • Owen

So, you’ve inherited a house?

Do you find yourself thinking, “I inherited a house, now what?

First of all, congratulations! We understand inheriting a house might be a stressful situation for some, but you don’t need to worry. We broke down your options and explored pros and cons. We also provided further steps you need to take after you make your decision.

So let’s go!

Inherited a house? Here are your options!

First thing’s first.

HuffingtonPost states these are the questions you need to ask after you inherit a house:

  • What condition is the house in?
  • How much will my expenses be?
  • How much is the house worth?
  • Should I move in, rent it or sell after I’ve inherited a house?

So, what are your options?

Sell when you’ve inherited a house!

Inheriting a house comes with plenty of unwanted headaches, especially if it’s something you didn’t want to happen. The first thought most have is to sell the house.

What to do when you've inherited a house?

RealtyTimes states that the absolute first step you must take if deciding to sell your inherited house is t0 seek legal action. Are you selling an inherited house to a sibling, at a loss or just wanting to sell? There are a few questions that should be addressed during this process, including the following:

  • Who will take care of getting the house ready for sale?
  • Who is responsible for negotiations and real estate agent hirings?
  • How will you divide the expensive?
  • Who is responsible for caring for the house while it is on the market?

You can also sell your house with a realtor without making repairs, or sell to a cash home buyer. We offer you both of these options! The best part is that you can get a cash offer in just 24 hours – your inherited home can be sold faster than you think!

Selling the house fast would be the best option for those who have no intention of moving in or renting it. There are a few pros as well as cons that come with this decision.

What options do I have when I've inherited a house?

Pros of selling an inherited house:

  • It can be sold FAST!
  • Paying in cash and having flexible payment options.
  • Not having to worry about the future of the property.

Cons of selling an inherited house:

  • You will have less control over who gets your house.
  • You might not be able to sell for the true value of the house.

If you’re considering selling, read this article: how to sell an inherited house in Omaha.

Rent when you’ve inherited a house!

Another option to consider is to rent your inherited Omaha house. If the house is to be rented, the heirs might ask:

  • Who will collect the rent?
  • Who takes the maintenance calls from tenants?
  • Where will the rental deposits and payments be held?
  • How will the income after costs be split among the heirs – each month, quarterly or annually?

Cons of renting an inherited house:

  • NextAvenue states that:”For tax purposes, the house (not the land) is considered a depreciable asset and a certain percentage of its value can be deducted annually.”
  • It can often be time-consuming.
  • You’ll need to make sure your tenants are a perfect fit for the house.

Pros of renting an inherited house:

  • Steady income on a long-term basis.
  • Creating networking relationships with the tenants.
  • Adding your management skills to your resume.

Move into your inherited house!

house

This option might be an obvious one – you could move when you’ve inherited a house and call it your new home.

The question that comes with moving into your inherited house is what to do with your current house. The same answers as above apply – you could easily sell it or rent it if you wish to do so.

Before you do decide to move into the inherited house,HouseLogic suggests to do the following:

  • Investigate the mortgage.

Especially if you’ve inherited a house from your parents at a loss – be aware of the current mortgage situation and know how to deal with it.

  • Physically check the house.

Is the property furnished or unfurnished? Take note of what needs to be fixed and what you want to fix. How does the season change affect the house? Do you like the surrounding area? See if all conditions meet your criteria before you decide to move in. Gather all necessary paperwork on the house and its appliances.

sell inherited house

If you inherited a house from your parents, you need to address the following questions:

  • Are you moving in alone, with your siblings or other relatives?
  • If the latter two, how will you split the costs?
  • What do you want to do with your current property?

Don’t forget to check out Good Housekeeping’s moving checklist – 9 Smart Things to do Before You Move

So, what’s it going to be? These decisions take time and planning. Make sure you check your budget, consult with professionals and get all your documentation ready.

Decided to sell? Give us a call and we will provide you with the best cash offer in just a couple of days!

 

Get a Cash Offer Within 24 Hours

Lucky for you, we buy houses in Omaha. We work fast to get you a no-obligation cash offer for you house within 24 hours.

Our customers comment all the time about our soft approach. You won’t get a hard sell with us. If you are not completely satisfied with the offer we make to buy your house, you don’t have to accept it. No charge. No fees.

We’d love to talk to you today about the house and your situation. We’re here to help even if you decide not to sell your house.

Give us a call at 402-578-4003 or fill out the form below to get started. We look forward to talking with you.

Categories: Inherited House
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