How to sell an inherited house?

How to sell an inherited house?

Do you want to sell your inherited house? In this case, it is necessary to familiarize yourself with all the peculiarities of this process. To avoid losing your own money, paying attention to the legal aspect is essential. First, after receiving an inheritance, it is necessary to ensure its proper processing and registration of ownership rights.
The selling or buying of real estate can be carried out if two conditions are met. The owner must have a certificate of inheritance and must be in the general register. If the apartment was pledged or purchased on credit, these issues must be resolved in order to dispose of it fully. Otherwise, the transaction will be considered invalid.

Documents required to sell an inherited house

Once all the formalities have been completed, and the house has passed in possession of its new owner, it is possible to sell it. It is necessary to collect a full package of documents to do this. As a rule, the following procedure is standard: the parties conclude a contract, leave a deposit and visit a notary for the housing registration.
The following documents are required for a successful transaction:

• passport or a document certifying the identity of all process participants;
  preliminary contract of sale;
• permission from the guardianship authorities, in case of minor owners;
• certificate of right to inheritance.

In addition, the house owner must provide the buyer with technical documents and extracts from the personal account, which confirm the absence of debts on utility bills. The buyer is charged a fee for executing the registration of the ownership title transfer. The entire registration process takes an average of seven to nine days.

When is it possible to put an inheritance up for sale?

Not everyone wants to keep an inherited house or apartment for personal use. As a rule, most heirs think about selling their homes and getting money for it. The main question is: when is it possible to dispose of the new property to the fullest extent?
It is possible to sell an inherited house or apartment after the official entry into the inheritance according to civil law rules. It is recommended to follow the steps mentioned below:

• Draw up and obtain an extract from the registry, confirming real estate ownership.
• Check and correct the technical and cadastral documents in the new owner’s name.
• Invite an appraiser to establish the current value of the home.
• Seek the help of a realtor and conclude the final contract for the transaction.

In general, the whole procedure is standard and does not require much effort. Unforeseen problems with the registration may arise in the presence of other potential heirs. In this case, the sale can be delayed for at least three years, and it may be challenging to obtain additional documents.
Thus, the registration of the sale transaction of the inherited property can be carried out in a few days. However, given all the peculiarities, it is essential to check all the documents and comply with all the formalities not to burden yourself with additional problems.