After a death in the family, thinking about selling the home can be difficult. But this is something that you will have to face eventually, so depending on your situation, it may be best to take care of the property sooner rather than later.
The probate process happens when a person passes away. A court supervises the process to ensure that all assets are distributed properly. If there was a will, the court will appoint an executor. If there was no will, the court will name an administrator.
Every state has slightly different laws, but you can expect the probate court to almost always get involved. The more you know about the probate process in Las Vegas, the easier it will be to complete it.
Understand the Probate Process in Nevada
Nevada has a simplified probate process for small estates. Probate gives someone, usually the surviving spouse or another close family member, the authority to gather the deceased’s assets and pay debts and taxes. On average, the probate process in NV takes a minimum of 4 to 6 months.
If your loved one had a will and named you the executor, you can hand the will over to the court. If your loved one did not have a will, you will have to file a petition. If you and other heirs can’t decide who should be the executor, the court will decide.
Communicate with Your Family
Keeping the lines of communication open during the probate process is extremely important. You’ll need to have some important conversations. It’s normal for some people to be upset, but know that you can be personally sued if someone feels that they weren’t treated fairly. Be transparent and upfront, and try to let everyone have a part in the process.
Decide What You’re Doing with the Home
No matter what you decide to do with the house, you’ll need to prepare it. Bring a few of the heirs with you so that you can go through your loved one’s belongings. Once you pack up the belongings and give the house a good clean, you’ll need to decide if you want to sell it, live in it or rent it out. There are pros and cons to each scenario.
If you do choose to sell the house, the sale must be approved by the probate court. This is something that you and any other heirs should agree on first, and then you can submit the necessary paperwork. Be patient, as contracts can’t be exchanged until probate has been granted. It usually takes 6 to 8 weeks for probate to come through.
Selling a Las Vegas House for Cash
What if you don’t want to go through the hassle of removing belongings, cleaning, organizing and hiring a realtor? You can sell the inherited Las Vegas property for cash. This is a popular option for people in probate, as it allows them to sell the property without having to do any additional work.
In a cash sale, inspections and appraisals are waived, as are most closing costs. We Buy Any Vegas House is willing to buy ANY property in the area, regardless of its condition. And, since our buyers have the money to purchase your house, the process moves quickly. You and any other heirs can then split the money.
To learn more about selling your house during probate, contact We Buy Any Vegas House today.