How do you go about selling an inherited house? At My Tennessee Home Solution, we buy houses in Antioch, TN, and have encountered many owners facing a legal process called probate. Learn more about it here so you don’t get blindsided.
What Is Probate?
Probate is the court-supervised system of validating a deceased person’s will (if one exists), evaluating their assets, settling existing debts, and legally transferring ownership to their rightful heirs.
Keep in mind that any real estate in the deceased’s name only requires a full probate if you lack a transfer-on-death deed. You don’t need one for properties held in a living trust, joint tenancies with right of survivorship, or a transfer-on-death deed.
How To Sell an Inherited House Through Probate
Do you need to sell your property as soon as possible? Probate sales can take six months to a year in Tennessee, so the sooner you start the process, the better. Let’s review how it works.
Step 1: Filing the Will
You should file the original will within 30 days of death in the county where the deceased resided. For cases with no will, you need to file a petition for administration.
Filing fees generally range between $350 and $500, but we recommend checking your local probate county’s website or calling them directly to be sure.
Step 2: Appointment of Executor/Administrator
After reviewing your petition, the court will appoint an executor (named in the will) or administrator (when no will exists) to manage the probate process. The executor receives the “Letters Testamentary,” while the administrator receives the “Letters of Administration.” Both documents give a person legal authority to:
- Access and manage the deceased’s assets
- Pay debts and taxes
- Sell property with court approval
- Distribute remaining assets to heirs
Step 3: Seek Court Permission to Sell
The representative files a petition requesting permission from the probate court to sell the real estate. In some cases, heirs need to be notified. If no one objects, the sale proceeds without extensive court hearings.
You can hire a court-certified appraiser to establish the fair market value for the property.
Step 4: Market and Sell the Property
Always disclose the property’s probate status in all marketing and listing descriptions. Even after you review and accept a buyer’s offer, the agreement is still contingent upon final court approval.
The court may require a hearing for the “overbid” process, where other buyers may show up and submit higher competing bids.
Step 5: Close the Sale
When selling inherited property in Tennessee, the judge needs to approve the sale by confirming the final, highest bid. Escrow opens, the appointed representative signs the paperwork, and the buyer receives a clean title.
Navigating Probate Requirements for Selling Property in Tennessee
We hope our inherited home sale process guide helps simplify a potentially overwhelming process. If you’re looking for a buyer with experience in Tennessee probate and inherited homes, My Tennessee Home Solution has you covered. Call (615) 933-5431 if you’re interested in selling an inherited house in “as-is” condition.
Explore more of our blog to learn the process of selling your parents’ house after their death.
