Is It Possible to Sell a Property I Just Inherited Without Going Through a Realtor in Texas
In Texas, you can inherit a property and generate a continuous side income or a one-time financial gain. But you have to follow some procedures before you can do so. Read on to learn how you should transfer the title of the inherited property to your name following Texas laws.
When you inherit a property, it becomes a responsibility to follow all the legal norms as appropriate in Texas. Most people who inherit a property try to sell it as quickly as possible, because most of them don’t want to invest more time and resources in maintaining the property. As a natural response, people look for realtors to sell their houses quickly.
However, it may also be the case that the owner of the house doesn’t get the appropriate value of the property from the realtor. So, if you have inherited a property, you might want to sell it by yourself without contacting a realtor. The process might be challenging, but you can definitely sell your property without a real estate agent. All you have to do is follow some legal steps.
First Things First: Confirm Ownership
A naturally-inherited property will include a will made by the property owner before he or she dies. Otherwise, a long legal process might be involved to claim a property legally after the property owner dies.
When a decedent dies without leaving a will for his property, you, as an heir to the property, should file a petition for the transfer of ownership. It is called starting the probate process in Texas.
The clerk of the county court will then issue a public notice asking other potential heirs to contest to be the heir of the property. If no other party comes to contest the heirship of the property, the county court gives official permission to the estate executor to manage the estate legally.
During the time of probate, you can file an affidavit for the transfer of property ownership.
Can You Legally Sell Without a Realtor?
Yes, selling an inherited property without a real estate agent is possible under Texas laws. But you must have the skill and knowledge to sell the property by yourself to the best buyer in the market. You can sell inherited property for cash to save the realtor’s commission on the property sale value.
Besides, you have to handle the marketing, pricing, and contract preparation all by yourself to save cost of operation.
Pros and Cons of Selling Without a Realtor
The first thing is that you may save a lot of realtor commission, but you would have to take responsibility for other work. Let’s look at the following table for a better understanding:
| Selling Property Without a Realtor | |
| Pros | Cons |
| Save commissions for the realtor | You have to manage all the legal aspects of the sales |
| No third party is involved during the communication with buyers | You may lack the skill of a professional negotiator |
| You may have more control in terms of sales | Your property might get limited exposure to buyers due to a lack of connections |
Table 1: Pros and Cons of Selling Property without a Realtor
How to Sell Inherited Property Without a Realtor
If you are willing to sell the inherited property for cash, without contacting any realtor, then you would have to follow a few steps. Let’s look at them.
Get the Property Appraised or Valued
Hire a professional property appraiser who can evaluate your property, considering the necessary repair work for the property and other factors. He may also compare the local property values and help you decide a suitable price.
Prepare the Home for Sale
The looks and appearance of the property play a crucial role in getting the asking price for the property. Clean the property and do some mild repair work to attract potential property buyers. A good first impression on the property buyers can have a positive impact on them.
Market the Property
Look for some online platforms where you can list your property. It will attract a high number of prospective buyers. If you are lucky, you may get a fast cash offer to sell your property quickly.
Alternatives to Traditional Selling
You can also sell the inherited property for cash to iBuyers that purchase your property as is. No repair work is needed, and you would face no legal hassles. Sell your property directly to such organisations, and you are free from the responsibility of maintaining it for a long time.
Sell Your House to Cash Buyers
Try to look for a cash buyer who would buy your house in the same condition as it is. It will save you a lot of time and effort to go through the process of finding a reliable buyer. Moreover, you would get cash for the house you inherited. So, no issue of funds getting in instalments.
