What are my options for my inherited property?

probate-court

Trying to find out what to do with your inherited property?  We understand this can be a stressful time are emotions are running high.  Most people assume that when you inherit a home, you’re happy about it, however, this is not always the case.  It can be challenging to come to an agreement where all the heirs in deciding what option they would all like to take.  One sibling might want to keep the inherited estate, another one might want to sell.  Or perhaps one might want to fix and sell, another might want to rent it…the list of combinations is almost endless.

You as the new owner, have also inherited some new responsibilities.  These include paying the taxes, maintain the upkeep of the home, cleaning out any belongings.  This can be problematic for those who live out of state or far from the property.
sell-my-inherited-property

What happens if there’s no will (ie/intestate succession)?

If there is no will, the home and other assets will need to be probated.

What is the probate process for my inherited property?

Probate is a process in which assets are distributed and all claims are settled.  An executor is the person appointed who will be in charge of handling the estate and other assets.

Does my house need to go through probate?

Not all assets need to go through probate, therefore it’s important to find out if your inherited is exempt or not.  In some states like California you can pass up to $100,000 of property without probate, and there’s a simple transfer procedure for any property left to a surviving spouse.

Do I need to hire a probate attorney?

Hiring an attorney is not required in any state, so you can go through probate without a lawyer.  In some situations, however, it might be beneficial to do depending on the complexity of the situation involving unpaid debts, the will, etc.

Can I sell before doing probate?

If your property is not required to go through probate, then you can sell your home fast without having the sale delayed by the court process.  If your home is required to go through the probate process, then you cannot sell your home until certain steps are completed by the probate courts, however, you can still work closely with a New Jersey Cash Home Buyers during the waiting period to finalize a quick sale once your home is allowed to be sold.

What will the capital gains be?

You realize capital gains or losses from selling things you use for investment or personal purposes. Some examples would be stocks, bonds and real estate.  Typically you have to hold property for at least one year to qualify for long-term capital gains rates, however, with inherited property there is no minimum amount of time for it to be treated as a long-term gain or loss.

I need to sell fast, do I need to list with an agent?

While listing with a real estate agent might be a good idea for some homeowners, it’s not always the best solution.  Apart from hiring a realtor, you can sell our home directly to an investor.  These are typically the “we buy houses” signs that you see.  If you’re looking to sell your new jersey home fast, without having to worry about the hassles of making repairs or listing with an agent, you can sell to us.  We can buy your home in AS IS condition and close on the date of your choice.

please note, this above is not legal or tax advice.  this blog post is for informational purposes only.  all tax and legal questions should be discuss with a licensed attorney or tax accountant

AVAILABLE – Fixer Upper in Camden City

780 Line St, Camden City, 08103.

Property_1411144192.jpg

Summer is over but it’s not too late to pick up a rehab before winter. .

Beds: 3
Baths: 1

Listed : September 19, 2014

Price : $ 35000

Repairs : $ 20000
Instructions : Appt w/Chris

More Pictures

How To Sell Your New Jersey House Fast For Cash

Sell-Your-Home-Fast

There’s a lot of reason why you might want to sell your house fast.

Here are some of the many reasons why people have sold their house to Ryan:

Inherited house and can’t keep it
House needs repairs
Divorce
Need money for a new house
Tired of being a landlord
House vacant after tenants vacated
Facing Foreclosure
Just don’t need the house anymore and would rather have cash fast
Job Relocation
Retirement

Perhaps you’re surprised to see a decent size list with situations that go beyond “facing foreclosure”.  Unfortunately there’s a lot of misinformation out there regarding Cash Home Buyers only purchasing homeowners who are currently in foreclosure.

While we do help and purchase homes that are short sales or in foreclosure, we also purchase many homes that are not in such a detrimental situation.  For example, many of the homes we purchased in 2013 were from homeowners who inherited a property, were tired of being landlords, or just wanted to cash out for retirement.

You Can Sell Your New Jersey House Fast!

Ryan buys houses quickly because he pays cash. This means there’s no bank financing required and he can close in a matter of days.  Being a New Jersey cash home buyer also allows him to buy houses that need a lot of work.  Homeowners frequently have trouble selling homes in need of extensive repairs because the average home buyer will need a mortgage to purchase the home.  When a mortgage is required, a certificate of occupancy (C/O) is also required.  Very often, homes in need of repairs, are unable to obtain a C/O which means the seller has two options: 1. Make the repairs themselves, 2. Sell to a cash home buyer.

You can save a lot of time by contacting Ryan and his team for a fair cash offer in 24 hours or less.  This means you won’t have to make any repairs and still sell your home quickly.  Also, you’ll NEVER pay any real estate commissions!

UNDER CONTRACT – Fixer Upper – Gloucester City

316 Somerset St, Gloucester City, 08030.

Property_1409934963.jpg

Light Rehab. Property will move quick. Cash buyers only!.

Beds: 2
Baths: 1.5

Listed : September 05, 2014

Price : $ 30000

Repairs : $ 20000
ARV : $ 75000

Instructions : Apt w/Chris

More Pictures

Property_1409934962.jpg

REDUCED – FIRE SALE MUST SELL! – Rockaway NJ

332 E Main St, Rockaway, 07866.

Property_1409930109.JPG

Great single family home at a super low price. Property zoned: O-B! Perfect to run your own business out of. House needs some updating. More photos here: www.ryanpal.com/deals/332_E_Main/.

Beds: 3
Baths: 2

Listed : September 05, 2014

Price : $ 180000

Instructions : Apt w/Ryan

More Pictures

Property_1409930110.JPG

Foreclosure Help NJ

Foreclosure Help NJ

foreclosure_help_nj

Not happy with your search results for Foreclosure Help NJ? Maybe we can assist. We have helped hundreds of homeowners facing foreclosure in New Jersey since 2006. Many of theses homeowners came to us scared, confused, and uninformed about the foreclosure process and how to prevent foreclosure in New Jersey.

We are proud to say we started off a Foreclosure Help NJ company and therefore carry extensive experience in helping homeowners stop foreclosure. If you’re in an unfortunate situation of possibly losing your home because you’re currently facing foreclosure, we strongly urge you to do one thing. That one thing is to take some kind of action. Whether you decide to seek the help of our company or another, the worst thing you can do is to freeze up and do nothing. In our opinion foreclosure is the worst option, and it’s quite possible you may have more options available to you then you might think.

If you’re still unsure of what route to take, feel free to reach out to us. There’s absolutely no obligation and all correspondences are 100% confidential. Call or email is today at: 973-699-3804 / ryan@ryanpal.com

REDUCED – Excellent ROI on this rental!

3214 rt 94, Franklin, 07416.

Property_1408654905.JPG

Rent ready. Current tenant is moving out and was payin $900 (was originally $1000 but the landlord gave them a break due to oil price increases). House can use some updating but not required to rent. As per owner, tenant will be painting the inside of the home before leaving.

More Pictures: Coming Soon.

Beds: 2
Baths: 1

Listed : August 21, 2014

Price : $ 45000

Instructions : Appt w/Clay

More Pictures

Property_1408654899.JPG
Property_1408654900.JPG
Property_1408654901.JPG
Property_1408654902.JPG
Property_1408654903.JPG
Property_1408654904.JPG
Property_1408654906.JPG

AVAILABLE – Fixer Upper in Howell, NJ

116 Roosevelt ave, Howell, 07731.

Property_1408653180.jpg

Fixer upper in Howell. Looking for a quick sale. Cash buyers only!

More Pictures: Coming Soon .

Beds: 3
Baths: 1

Listed : August 21, 2014

Price : $ 65000

Repairs : $ 60000
ARV : $ 180000

Instructions : Appt w/Chris

More Pictures

Property_1408653179.jpg
Property_1408653181.jpg
Property_1408653182.jpg
Property_1408653183.jpg
Property_1408653184.jpg
Property_1408653185.jpg
Property_1408653186.jpg
Property_1408653187.jpg
Property_1408653188.jpg

UNDER CONTRACT – Multi-Family Fixer Upper – Newark, NJ

170 N 11th St, Newark, 07107.

Legal 2.5 family, there are 3 kitchens and 3 baths. House needs rehab (updating throughout), plumbing still intact (house was never fully vacant and vandalized).

Repairs: 60k-80k
ARV: 180k-200k.

Beds: 5
Baths: 3

Listed : August 14, 2014

Price : $ 65000

Repairs : $ 60
ARV : $ 180

Instructions : Appt w/Sergio

More Pictures

Property_1408632591.png

Homevestors

Homevestors

Are you looking for Homevestors? You know, those “We Buy Ugly Houses” guys.  Homevestors is a well known company and have done a great job branding themselves as the official “We Buy Ugly Houses” cash home buyers along with their caveman logo.  There’s one slight problem.  Not all sellers have ugly homes for sale.  Sometimes a home might need some updating or in need of a little lip stick but they don’t fall in the same category as ugly homes.

Luckily Real Estate Solution Providers (RESP) does not limit our buying criteria to only ugly homes.  While we do buy ugly houses, we also buy pretty houses and everywhere in between.  Limiting our services to just ugly homes would be an disservice to homeowners like yourself.  We are proud to bridge the gap where Homevestors falls short.

If you have a home in New Jersey that you need to sell fast, it doesn’t matter the location, situation or even the condition.  We can  purchase properties that fall under all categories (foreclosures, inherited properties, fixer uppers, vacation homes, ugly homes, pretty homes, mediocore homes) it really doesn’t matter.  We understand every situation is unique in nature so we work closely with each homeowner to provide a solution that meets their needs.  At RESP you’ll never find a “one size fits all” remedy for your house problem.

Before you call Homevestors or another New Jersey cash home buyer, drop us a line, we’re confident this will be your first and only stop for your a solution to sell your NJ home fast!