Inherited or probate house
Inherited a house in Indianapolis? Here are your options.
Settling an estate is a lot to carry. Whether your family wants to keep the house, list it, or sell it as-is, here is a plain guide. If a quick, simple sale fits, we can make you a written offer.
- We can buy with the belongings still inside
- We work with the personal representative and the estate's attorney
- No repairs, no cleanout, no showings
- If listing would net your family more, we will say so
First: who can sell the house
- Most inherited houses go through probate first. When the owner passes away, the court usually appoints a personal representative (often called the executor) who can sign for the estate. In Marion County, estates are opened in Marion Superior Court.
- Some houses skip probate. A house held in a trust, or one with a transfer on death deed, can pass without it. An estate attorney can tell you which applies to your family.
- Everyone on the title has to sign. If several heirs inherit the house together, all of them usually need to agree to the sale.
- The title company checks all of it. Before closing, it confirms who can sign, and pays off any mortgage, back taxes or liens from the sale.
Your options
- Keep it. Move in, or rent it out. The family takes on the taxes, insurance and upkeep.
- Fix it up and list it with an agent. Usually the highest price, if someone has the time and money to manage repairs. The agent's commission and the repair costs come out of the proceeds.
- List it as-is with an agent. Works well when the house is livable. Buyers using a loan often cannot buy a house that needs major work.
- Sell it as-is to a cash buyer like us. A lower price than a fixed-up house would bring, in exchange for no repairs, no cleanout and a closing date that fits the estate.
When a cash sale makes sense
- The house needs real work, and nobody in the family wants to manage contractors.
- Heirs live out of town, or there are several heirs who want a simple, clean split.
- The house is full of belongings and clearing it out would take months.
- The estate is paying taxes, insurance and utilities on an empty house.
When it does not
If the house is updated, in good shape, and nobody is in a hurry, listing with a good local agent will likely put more money in the family's pocket. If someone in the family wants to keep the house, that is worth talking through first. We would rather tell you that up front than make an offer that is not your best choice.
How we handle an estate sale
We work with whoever has authority to sign, usually the personal representative, and with the estate's attorney if there is one. We can set the closing date around the court's timing. Take the things that matter to your family and leave the rest; we handle what is left after closing.
Questions families ask
Can we sell before probate is finished?
Often, yes. Once the court appoints a personal representative, they can usually sign a purchase agreement, though some estates need the court's approval for a sale. It depends on how the estate was opened, so check with the estate's attorney. We set the closing date to fit.
Do we have to clean out the house first?
No. Take what you want to keep and leave the rest. That includes furniture, clothes and anything in the basement or garage.
How is the money split between heirs?
The title company pays the estate, or the owners on the title, at closing. How it is divided among heirs is set by the will, the court or your family's agreement, not by us.
More questions?
See our answers to common questions, or send us the address and we will call you.
Want to see what the house would bring as-is?
No pressure and no obligation. A real person here in Indianapolis will call you back.