Sell My Inherited House in Kansas City, Missouri
Help Me Sell My Inherited House Fast in Kansas City, Missouri
When inheriting a house, you may feel overwhelmed by the probate process and the responsibility of maintaining the property. You may also be wondering how to sell an inherited house, especially if it's in poor condition.
Fortunately, selling your inherited house for cash provides a fast and easy solution. Kansas City Cash Closings can work with you to buy your house as-is and pay cash. Whether you need quick money to pay off leftover debts or you simply don’t need the property, we can assess your house, make an offer, and close in as little as a week.
Below, we look at what an inherited house is, the probate process in Missouri, the challenges that can impact the sale of an inherited house, and the benefits of selling your inherited house for cash.
What is an Inherited House?
An inherited house is a property that you have received as part of an inheritance. In most cases, an inherited house is passed down to you after the death of a loved one. However, inheriting a house can also happen in cases where a property owner decides to transfer ownership while they are still alive.
What is the Probate Process in Missouri?
The probate process in Missouri involves administering the estate of a deceased person, ensuring their assets are distributed according to their will (if one exists) or state law. The steps involved in the probate process in Missouri typically include:
Filing the Petition
The probate process begins with filing a petition with the appropriate probate court in the county where the deceased person resided. This petition requests the appointment of an executor (if named in the will) or an administrator (if there is no will) to manage the estate.
Notice to Beneficiaries
Once the executor or administrator is appointed, they must notify the deceased person's heirs and creditors of the probate proceedings. Creditors typically have a specific timeframe, usually six months, to file claims against the estate for any debts owed by the deceased.
Inventory and Appraisal
The executor or administrator is responsible for creating an inventory of the deceased person's assets, including real estate, personal property, bank accounts, and investments. These assets are then appraised to determine their fair market value.
Payment of Debts and Taxes
The executor or administrator must use the estate's assets to pay valid claims from creditors, as well as any taxes, funeral expenses, and administrative costs associated with the probate process.
Distribution of Assets
After debts and expenses have been paid, the remaining assets are distributed according to the terms of the will or, if there is no will, according to Missouri's intestacy laws. In general, assets are distributed to the surviving spouse, children, or other close relatives.Note: Not all estates require probate in Missouri. Small estates (valued at less than $40,000) may qualify for a simplified probate process, and certain assets, such as those held in joint tenancy or with designated beneficiaries, may pass outside of probate.
Challenges of Selling a House During Probate
There are several challenges that you may need to address when selling your house during probate.
- One of the biggest challenges of the probate process is the amount of time it takes. In Missouri, the probate process can take anywhere from six months to a year or more to complete. During this time, the inherited house may need to be maintained, which can be costly and time-consuming.
- Another challenge of the probate process is the potential for disputes among heirs or beneficiaries. If there are disagreements about how the assets should be distributed, it can lead to delays and additional legal costs.
These challenges can impact the sale of an inherited house because potential buyers may not want to wait for the probate process to be completed, or they may not want to deal with the potential for disputes among heirs.
Reasons for Selling an Inherited House
There are many reasons why someone may choose to sell an inherited house.
One common reason is retirement. If you have inherited a house but already own a home, you may not want to take on the responsibility of maintaining two properties. Selling the inherited house for cash can provide you with the funds you need to enjoy your retirement without the extra burden.
Another reason for selling an inherited house is downsizing. If the inherited house is larger than what you need, selling it can provide you with the funds to purchase a smaller, more manageable property.
Additionally, if the inherited house is located far away or requires extensive maintenance, you may choose to sell it to avoid the hassle and expense of upkeep.
Moving to a Nursing Home
Finally, if the inherited house belonged to a loved one who required nursing care, selling it can provide you with the funds to pay for their medical expenses.
What is a Cash Home Sale?
You may have heard of a cash home sale and wondered what it entails. A cash home sale is when we purchase a property without using any financing, such as a mortgage. In these transactions, we pay the full purchase price upfront, using cash or other liquid assets. This type of sale is faster, more reliable, and involves fewer contingencies than a traditional financed sale.
As a seller, you can enjoy several benefits from a cash home sale. First, the closing process is typically shorter, as there is no need to wait for mortgage approval or appraisal contingencies. You sell your home and receive your funds more quickly. Additionally, cash buyers are often considered more serious and committed, so there is less risk of the deal falling through due to financing issues.
Get a Cash Offer for Your House from Kansas City Cash Closings
At Kansas City Cash Closings, we buy houses as-is and can pay cash for your house. This means that we will purchase your property in its current condition, without the need for repairs or renovations. This can save you time and money, as you won't have to worry about fixing up the property before selling it.
Our house-buying process includes the following easy steps:
Step 1: Contact Us
Once you get ready to sell your house, simply give us a call and schedule a quick walkthrough of the property. We can come by any time and assess the property. There is no obligation to sell, and you can feel free to ask questions.
Step 2: Get a Cash Offer
Once we look at the property, we will make a cash offer on the house based on our assessment. Our offers typically come in at just below your home’s property value. In most cases, we can make an offer within 24 to 48 hours of seeing your house.
Step 3: Get Cash for Your House
If you agree to our offer, then now is the time to sell your house! You can schedule a convenient closing date. You simply fill out the paperwork and walk away with no strings attached. We pay the closing costs. Selling your house has never been easier!
Simply contact us and provide us with some basic information about your property. We will then schedule a time to visit your property and assess its value. Based on our assessment, we will provide you with a fair cash offer for your property. If you choose to accept our offer, we can close the sale quickly, often within a matter of days. This can provide you with the fast cash you need to move forward.
As a homeowner, considering a cash home sale can be an attractive option for various reasons. When you choose to sell your home for cash, you can reap several benefits that make the process smoother, faster, and more convenient for you.
What are the Advantages of a Cash Home Sale?
Sell Your Inherited House Fast
One of the biggest advantages of a cash home sale is you can sell your house fast. Since we don't need to secure financing or mortgage approval, the process can move much more quickly than with a traditional sale. We can finalize a cash sale in as little as a week, allowing you to move forward with your plans without delay.
Less Risk of the Deal Falling Through
When you accept a cash offer, you reduce the risk of the deal falling through due to financing issues or other contingencies. This gives you more certainty and peace of mind, knowing that we have the funds readily available to complete the purchase.
Sell Your House As-Is
We buy your house as-is without making any repairs or improvements. It can save you time and money, especially if your home requires significant repairs or updates that you cannot afford or do not have the time to complete.
No Closing Costs
We cover all of the closing costs, which can save you money and simplify the transaction. Additionally, a cash sale may require fewer professional services, such as appraisals or inspections, potentially reducing the associated fees.
A cash sale is a more straightforward process compared to a traditional sale. With fewer parties involved and no need to coordinate with a mortgage lender, you can enjoy a more streamlined and less stressful experience.
Close When You Want
We are more flexible with the closing date, allowing you to choose a timeline that suits your needs. This can be especially helpful if you need to relocate quickly or coordinate the sale of your current home with the purchase of a new one.
Sell Your House Fast in Kansas City, Missouri
If you need to sell your house fast but don’t want the hassle of a traditional home sale, contact KC Cash Closings. We buy houses as-is. No repairs are needed. Avoid closing costs and realtor commissions. Close in as little as seven days. Call 816-659-2259 to get a fast cash offer from our local home buyers in Missouri.
Frequently Asked Questions About Cash Home Sales in Missouri
A cash home sale is a real estate transaction in which we pay the full purchase price upfront, without needing a mortgage or other financing.
Cash home sales are typically faster and more reliable than traditional home sales, as they don't involve mortgage approval, appraisal contingencies, or financing issues.
Sellers often prefer cash home sales because they are quicker, involve fewer contingencies, and have a lower risk of falling through due to financing issues.
Some benefits of selling your home for cash in Missouri include a faster closing process, reduced risk of the deal falling through, and potentially lower closing costs.
The timeline for a cash home sale in Missouri typically ranges from one to two weeks, depending on the efficiency of the parties involved and the complexity of the transaction. In some cases we can close the sale of your house in as little as seven days.