Coping with the death of a loved one is a psychologically-trying time, burdened with a sense of uncertainty, grief, and emotional distress. It is certainly not the right time to make any rash decisions under these circumstances, especially if there are pressing matters such as dealing with the general operating costs of any dwelling (payment of taxes, mortgage or rent, insurance policies, unpaid debts, pending maintenance costs, etc.), requesting the cancelation of all the regular services and utilities (electricity, gas, water, Internet, telephone, cable TV, security system, household personnel, etc.), in addition to clearing out the deceased person’s belongings. Ideally, all the above-mentioned tasks should be carried out with the unanimous consent of all the parties involved. However, this is not very common, since disagreements arise from the many and different emotions and interests at stake.
Unlike other very prestigious law firms specialized in real estate and inheritance, we offer a unique and all-encompassing approach towards the inheritance of real estate. The key factor is understanding that we are not dealing with clients looking for legal and financial assistance regarding the real property they just inherited… we are dealing with grieving individuals who need sound advice and emotional support in order to make the best decision possible.
Inheriting Real Estate Property
Notwithstanding the foregoing, the inheritance of real estate is indeed a legal process. It is actually subject to formalities, technicalities, and legal requirements that may vary from one jurisdiction to another jurisdiction, and the governing laws in force.
Even after the most suitable attorney is assigned to a specific case, many people realize that this is a time-consuming process. They acknowledge they are not willing to go through the tedious process of dealing with the bureaucratic legal maze it implies. Again, our law firm is one step ahead of our competitors. We offer an avant-garde solution to this special situation: The possibility of buying your inheritance. This will immediately benefit you since you will free yourself from all the long and tiring inheritance process imposed by this legal procedure. This may take months or even years. Also, consider its consequent emotional toll and possible disappointment due to financial matters not resolved in due time.
After completing this procedure, and having settled all unpaid debts and liens, the real property is ready to be sold. The first thing to consider is hiring a home inspector to determine the actual condition of the property. You should also obtain an accurate appraisal in order to establish a fair market value. Afterward, you will decide whether to fix and improve the property or just to sell it as it is.
Real Estate Agent vs. Real Estate Attorney
Hiring an estate agent may save you the trouble of going through all this pre-sale process mentioned before. However, take into account that there are some disadvantages involved. For instance, estate agents usually require a 6-month contract in order to sell a property. But there is no guarantee that a sale will take place within that period of time. This contract also includes high fees (often as much as 2% of the sale price). Also, there are penalties if you sell the property on your own.
Another important issue to consider is that inherited property is subject to inheritance and estate tax law. Even if you sell the property, you will still be subject to taxes on any proceeds from the sale. Even from inheriting the property itself.
We fully understand that these are sensitive matters that require confidentiality and expertise. Therefore, we take the utmost care in providing you with the best legal assistance and customized service.