Hello. My husband and I inherited a house from his mother, after she passed away. We would like to sell the house, as we have no need for it, and don't want to continue paying taxes on it.

Our problem is that neither of us have ever sold a house before and have no idea where to start.

The house was built in 1971 and is totally paid off (paid off before my mother-in-law's death.) We have only been paying the taxes.

The house is in Carrollton, TX.

Minimal updating has been done to the house, but it seems to be in decent shape, except for some cosmetic details.

How do we even go about starting the selling process? Should we sell ourselves or use a realtor? How do we know how much to request for the house? How do we even choose a realtor?

I'd appreciate any input on this. Thank you.

My condolences for your loss, but hopefully you will be able to sell the home with the least amount of hassle possible.

The best way to ensure your home sells in the quickest amount of time for the highest price is to have the home clean, well-maintained and decluttered. The best time to prepare your home is BEFORE you list it. That way buyers will see it at its best and offer accordingly. Take a weekend or a week to get as much as possible ready.

You want to make the space to look as spacious, bright, warm and inviting as possible. Wash the walls, ceilings and trim or consider painting the rooms in light, neutral colours. Repair any cracks, loose knobs, towel racks, switch plates, outlet covers, doors, windows, squeaky floorboards, leaky faucets or loose stair banisters. Clean and repair caulking around tubs and sinks. All light switches should work! Replace any lightbulbs, including any exterior lights.

Remove any unnecessary furniture or clutter from each room. Each room should reflect its purpose. A dining room should look like a dining room. A garage should look like a garage (and not a storage locker!). The buyers need to be able to get through the home easily. All closets should be organized and decluttered. Remove any items you plan to take with you, such as chandeliers. This will help to eliminate any potential confusion down the road.

It can be hard to decide whether to use a Realtor or not, but the best way is to interview potential Realtors and ask them what they can do for you to get your home sold. Get it all in writing in a contract before you hire them. Ask them questions, if they can't answer them for you, keep looking.

Realtors in your area should be able to help you with all your questions. Call a few brokerages and find out whether they have information packages for you on what to do.

Also, you can try looking on MLS.com for comparable homes similar to this one are selling for.

Hope this helps!

Since you use the word "inherited" I presume that all of the issues associated with Probate are behind you, and that the Court awarded your Husband Ownership of the Property, and he is now free to convey Title.

I ask because often Heirs get a little ahead of themselves and sometimes begin marketing a property when the Probating of the Estate has not been concluded (and sometimes not even begun!).

Call a Real Estate BROKER not a new agent.

It's common for people that inherit property to just want the money too close that chapter of their life on move on with living.

So you need to meet a broker that will give you 2 values: AS-IS and AFTER REPAIR VALUE.

AS-IS means what could the property sale for today in it's current condition. ARV value means what the possible sale would be after cosmetic fix-ups and mechanical and structural repairs.

You have to decide if you want to take on weeks to months of renovations and put your life on hold to eek out a few more dollars or do you just want to sell and be done with it?

The house actually might have less value than the land depending on where the parcel is located.I would fix it up if the 2 values
were way different. Example 200k in current condition and 350k fixed up. If it was more like 50k current condition and 70k fixed up I would probably opt to just sell AS-IS. The reason being repairs always run higher as you find hidden little gems you didn't count on.

I would help but I am in Georgia.

Good Luck

Thanks for all the advice!

I will begin working on cleaning up and de-cluttering.

Do we actually need to go through probate for just the house? There really wasn't any other property/assets that she owned.

Going through Probate insures that the Estate has no other Claims against it.

I'll let someone who knows Texas Law comment on whether there is any way to avoid Probate as your Attorney Friends have suggested.

The Clerk of the Probate Court in the County where your Mother-in-Law passed away would be a good source of ACCURATE and FREE information on how these matters are handled in your Jurisdiction.

I look into that; thanks for the advice.

When looking for a realtor, what kinds of things do we need to ask about? How much they think the house is worth, how will they go about selling it, and ??? And how do you tell a good realtor from a bad realtor?

And what is the difference between a broker and an agent?

In most states not all a broker has more experience than an agent. This does not mean that there are not some agents that are better than the brokers. It just means on average that brokers have more experience,training, and have been in the business longer.

An agent could have gotten their liscense yesterday.

For instance in my state we have to be liscensed as an agent for at least 3 consecutive years (no-inactive or lapsed liscense time counts)before we can become a broker and must take additional training and pass more tests.

Whoever you choose get promises in writing because talk is cheap. Have a termination clause if they are not doing their job. On your side be REALISTIC about selling price. Find out if your local market is declining,flat,or appreciating in value. Look at how long it takes to sell a similar property at a particular price point.

For instance a 3/2 ranch is selling for 110k in 30 days listing time,120k in 90 days,135k in 180 days.

So you have to look at the relation of time you want to sell in as to what price you will list it at. The more yo ulist under current market value the faster it will sell. Buyers want deals not overpriced junkers.

good luck

In Texas, a person can be licensed as a broker with two years experience, additional education and an exam. However, many excellent salespeople choose to not pursue a broker's license due to the additional costs, and the fact that they don't have any interest in owning a brokerage - they just want to sell! Also, the additional education can be credits awarded from college courses taken umpteen years ago and not current, relevant education - so that can be a little deceptive.

While a broker may be more educated or experienced than a person who holds a salesperson license, it is not always the case. And a broker may be running a brokerage and only be able to pay your listing fragmented attention. An associate broker (has a brokers license but is not the broker in charge at their office) may be a better choice.

When choosing someone to sell, find someone with verifiable experience and references from other sellers, has a clear plan to market your home and the time to get it done and is someone you can communicate openly and easily with. There are thousands of agents in your area that are qualified and have the same tools to sell, so essentially it all comes down to the human element and whether or not you can see yourself in a working relationship with the one you choose. Good luck!

Thank you!

Should we consult an agent/broker before trying to repair any cosmetic defects? Will they advise us on what it worth fixing and what isn't?

In looking at different agents' websites, I notice that they have a buyer/seller ratio listed. Is it important to go with someone who has a bigger ratio for selling or does it matter?

Do they typically charge for a consultation? We're worried about talking to someone and finding out that we're committed to using them based on one conversation.

Sorry for all the questions - I'm handling this all by myself and have NO idea what I'm doing. :)

Hi,

You should absolutely consult with a Realtor before spending any money or time fixing up your house.

I'm not sure where you're getting your agent website information from but I wouldn't pay much attention to buyer/seller ratios. All you and they need to be concerned about is how you're going to get your house sold.

Most Realtors do not charge any fees for an initial meeting with you.

The only foolish questions are the ones you don't ask.

Usually the consultation is free. The agent will come and tell you about what services they offer, how they will market the property, etc, trying to market themselves to you so you will sign a contract. They will no doubt try to sign you on the first visit. You are not committed to using them until you sign a contract (and there are several different types-- the American Realtors can tell you in more detail since it differs across the borders).

Great - thanks so much.

I'm going to start looking for some agents/brokers tomorrow.

Appreciate the advice/suggestions!