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Your mom words the deed as a life estate and she passes and you want to sell the property how do you go out selling the house?
Wiki User
∙ 2007-05-15 02:13:36
You'll need to make sure the house is in your name before you sell it. Then, interview a few real estate people. You can get names from friends who have used them, or use someone whose name you see on the neighborhood for sale signs. They can tell you the small things you'll need to do to make the house saleable. Do those, and then hire one of them. This may cost you money in commission (5 to 7%, may be negotiable). Otherwise, you can go to one of those "sell by owner" places and they will help you for less money. The final choice is to go directly to a title company and they will handle the closing transaction for you and your buyer. A real estate agent told me once that it is always worth trying to sell it on your own for 3 weeks before signing with a real estate agent. However, if you haven't gone through the process before, the easiest is the real estate agent.
Wiki User
∙ 2007-05-15 02:13:36
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Do you need real estate license to buy and sell notes?
If the house will be yours then you can buy the house without a license. If the house belongs to you then you can sell it without a license. However, I highly recommend that you use a real estate agent when buying and selling real estate. When buying real estate, title searches need to be performed to determine who is the rightful owner and what debt and taxes are levied against the property. When selling real estate, the buyer's credit and financial ability has to be determined before selling the property to the buyer. If these things are not done properly you could end up getting ripped off big time.
What has the author Greg Rand written?
Greg Rand has written: 'Crash boom!' -- subject(s): House buying, Real property, Real estate investment, Purchasing, House selling
Should you use your tax ID or the estate tax ID when selling the house?
Should you use your personal tax ID or the estate tax ID when selling the house of a decendant?
Is a joint owned house in an estate?
No. Real property owned by two (or more) people as joint tenants passes automatically to the surviving joint tenant upon the death of the other.
What do you call A person who sells their house?
An estate agent is the person usually employed to sell a person's property. Usually with the aid of a solicitor employed by the seller/owner of the property.
What has the author William Monroe Shenkel written?
William Monroe Shenkel has written: 'Real estate investment decisions' -- subject(s): Investments, Real estate business, Real estate investment 'Modern real estate appraisal' -- subject(s): Real property, Valuation 'Real estate finance and analysis' -- subject(s): Finance, Housing, Mortgages, Real estate investment, Real property 'Marketing real estate' -- subject(s): House selling, Marketing, Real estate business, Real property
What does estate mean?
A person's estate is all the property owned including real and personal property. In another sense an estate is a large piece of landed property with an elaborate house on it.
Can a house in an estate be rented?
The executor can rent the house. They are responsible for making sure the estate stays solvent and the property is taken care of.
How do you sell a house when a parent dies and no will is left but all surviving children agree to sell the house and split whatever is left?
First, the estate must be probated in order for legal title to the real estate to pass to the heirs. You need to consult with an attorney who specializes in probate law in your area. The attorney will assist you in filing the probate and then advise you about selling the property. The property could be sold through the estate or by all the heirs once the estate is settled.
Is there capital gains tax on selling a house left in an estate?
Yes this is possible.
Does the devise of the dwelling house include only the house?
Generally the devise of the dwelling house mean the home and real property on which it stands. The contents of the house are personal property. Usually a will provides more explicit instructions for the distribution of the personal property inside the house. If not, that property may pass into the "residue" of the estate and would be shared by the heirs as intestate property. You should seek the advice of the attorney who is handling the estate. The estate must be probated if there is real property in order that the title to the real property will vest in the devisee.
Can you insure a house that's in the estate of?
The executor should make sure that insurance is current on property in the estate.
