Selling an Inherited Property
When it comes to selling an inherited property it may seem like a daunting procedure, firstly there is an emotional impact when it comes to dealing with a loss of a loved one, and there is also the legal responsibilities, paperwork and financial matters to keep in mind.
The costs of inheriting a property
- Repaying mortgages and loans
- Property insurance
- Travelling & inspections
The three types of inherited property taxes
- Inheritance Tax
- Capital Gains Tax
- Income Tax
How to sell an inherited property
First, you must complete the grant of probate, meaning the legal process that transfers ownership of the property from the deceased person into your ownership (either by yourself or with other beneficiaries).
If the property is dated or in need of repair, it may be less popular with buyers, however undergoing costly and time-consuming refurbishments is simply not an option for many people and can often cost more money than it adds to the property’s value.
Gaffsy specialise in properties in need of refurbishment, get in touch today for a fair, no-obligation offer for your inherited property.
Advantages of Selling your house after Inheritance to Gaffsy:
- We can buy your home quickly, pledging to complete on a date of your choosing.
- We manage all aspects of the sale.
- We do not charge for sales assistance.
- By selling to us you will save time and work.
- Our service is fast, transparent, and entirely tailored to your needs.
- You receive cash immediately after the sale is finalised, we complete sales faster than any other buyers.