Inheriting a Home: A Friendly Guide to Navigate Your New Responsibilities

When a loved one passes away, inheriting their home can be a bittersweet experience. It's a tangible reminder of the person you've lost, but it also comes with a host of responsibilities and decisions that need to be made. As an heir or executor of the estate, it's crucial to navigate this process with care and clarity. Here’s a user-friendly guide to help you through this journey before deciding whether to sell or keep the inherited home.

Securing the Property

First and foremost, ensure that the home is secure. Re-keying the locks is an essential step as it's almost impossible to know who might still have a key. Notify the local police department that the property is now vacant, and enlist the help of trusted neighbors to keep an eye on the house. Setting up lights with timers can also give the appearance that the home is occupied, deterring potential intruders.

Managing Mail and Utilities

Make sure that mail is either forwarded to your address or picked up regularly, and ensure no leaflets or newspapers are left on the porch. It's also important to continue making mortgage payments, property tax payments, home insurance payments*, and utility payments to avoid any lapses that could lead to complications down the road.

Maintenance and "Winterization"

Maintaining the home is crucial, whether you decide to keep or sell it. If you can't maintain the property yourself, consider hiring someone for yard and home maintenance. If the property is vacant during our rainy season, check the home regularly to prevent potential damage from heavy rains. *Inform the home insurance company that the owner passed away and the property is now vacant, as this will most definitely affect your coverage. I'm happy to discuss this with you and provide further guidance here.

Handling Personal Belongings

Securing and removing all personal papers, such as wills and bank statements, is essential. Start an inventory of all valuable items in the home for tax purposes and to keep track for all the heirs. Photographing or videotaping the home's contents can also be beneficial. Once the inventory is complete, heirs can begin removing items they wish to keep.

Consulting a Certified Probate Real Estate Specialist

Navigating the sale or maintenance of a probate property can be challenging. It's wise to consult a Certified Probate Real Estate Specialist who can assist with estate sales, cleanouts, trash removal, staging, and repairs. They can provide a free comparable market evaluation of the home's worth in its current condition (selling “as is”) and its potential value with minor upgrades such as fresh paint, new flooring, and other small projects.

Making the Decision: Sell or Keep the Home

Once you have all the necessary information and evaluations, it's time to have a family meeting to discuss the options. This is a crucial step in making an informed decision about whether to sell or keep the inherited home. In California, you can sell the home at any time during the probate process once you have your letter of administration from the probate court. There's no need to wait for six months, giving you the flexibility to make decisions that are best for your situation.

Get Expert Help and a Free Ebook!

Handling an inherited home can be overwhelming, but you don't have to do it alone. As Certified Probate Real Estate Specialists, we specialize in helping heirs and executors navigate the complexities of probate real estate. Our team of Specialists is here to guide you every step of the way. For more detailed information and personalized assistance, visit our website for details. We're offering a free ebook that provides comprehensive guidance on managing inherited properties. This valuable resource is designed to help you make informed decisions and ease the burden of handling a loved one's estate.

Download your free ebook today and take the first step towards managing your inherited property with confidence and peace of mind. At Probate Real Estate LA, we're committed to supporting you through this challenging time with compassion and expertise.

Visit our website to learn more and get your free ebook: Probate Real Estate LA.

By following this guide and leveraging the resources available to you, you can navigate the complexities of inheriting a home with confidence. Remember, you're not alone—our team is here to help you every step of the way. Download your free ebook today and let us assist you in making the best decisions for your inherited property.