Is There A Holding Period Before Selling My Inherited Home? – 19135

If you are thinking about selling your inherited property, you might be wondering, “Is there a holding period before selling my inherited home?” This article will answer that question and you might be surprised at what you learn…

If you’ve inherited a property, you might now be wondering what to do with that property. And if you’re thinking about selling it then you’re probably wondering, “Is there a holding period before selling my inherited home?”

Great question. There are a few things you should know in order to answer the question…

Is There A Holding Period Before Selling My Inherited Home

Probate Versus Inheritance

In general, an inherited property is what you get when someone passes away and leaves you their property. Probate is a stage along the way – it’s the step of proving the will and making sure that the right heir gets the right inherited property.

Therefore, if someone leaves you a home and the house is in probate, you might not be able to sell it right away because the will is still being proved and there could be other heirs contesting the will.

However, if probate is complete and you fully own the inherited house, then you can likely sell without waiting.

Generally speaking, if you have the death certificate and power of attorney documents then you are in a position where you are able to sell the home.

There Is A Holding Period (But Not What You Think)

There is a holding period with inherited homes but the holding period doesn’t mean you can’t sell… it’s simply a term used to describe how you will be taxed on the property – and it depends on when the deceased passed away.

However, in most cases, this won’t prevent you from selling the property but you should talk to an accountant to see if the holding period will impact how much tax you pay.

We can also provide you some basic insights into the probate process so please feel free to give us a call or text directly at (719) 286-0053 to speak with one of our live agents and get an instant free quote.

There May Be Other Factors Involved

While there isn’t likely going to be a holding period on the inherited house itself that will prevent you from selling it, you should be aware that there could be other holding periods that will make it more challenging to sell – such as if the house still has a mortgage or some other obligation. But in many cases, these can be sorted out and, in the long-term, shouldn’t keep you from selling.

So, if you inherited a house and are now thinking about selling it, and if you’re wondering, “Is there a holding period before selling my inherited home?” then here’s the good news: You probably don’t have to wait to sell and you can get that process going right away. However, be aware that there could be other factors that may delay the sale, or that could impact the tax you’ll have to pay when you sell.

Here’s a fast solution for you: If you want to sell your inherited house as quickly as possible, give us a call! We’ll give you a fair, fast all-cash offer to buy your inherited house as-is.

Rapid Home Liquidation specializes in buying, rehabbing, and reselling inherited houses in Philadelphia PA, and New Jersey and we can buy your house fast in 7 – 10 days with our own cash!

Our company is privately owned and operated and we run our programs based on a very strict code of ethics and virtues.

Ready to sell fast in Philadelphia? We’re ready to make you an offer right away. Just click this link and fill out the form or call our office at (215) 882-9828.

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