I Inherited a House I Don’t Want: What Are My Options in Georgia?

Inheriting a house sounds like it should be a good thing, right?

Well, not always.

Sometimes an inherited house can feel more like a burden than a blessing. Maybe it needs a lot of work. Maybe you already have your own home. Maybe you live several hours away. Or maybe you simply don’t have the time, money, or patience to deal with another property.

So, what can you do if you inherited a house you don’t want?

Hey guys, I’m Brad, the Probate House Guy. I’m an active real estate investor and a licensed real estate agent in the state of Georgia. Over the last 10 years, I’ve helped more than 300 sellers get their properties sold, whether through a cash deal or by listing the property for sale traditionally.

I’ve learned a thing or two about probate and inherited properties over the years, so I’m sharing what I’ve learned with you.

And just to be clear, I’m not an attorney, so don’t take anything I say as legal advice. For your specific situation, I highly recommend talking with a probate attorney or real estate attorney.

With that said, let’s talk about your options when you’ve inherited a house you don’t want.

Why Would Someone Not Want an Inherited House?

We deal with this surprisingly often.

You might think, “Why wouldn’t someone want a house?”

Well, there are actually a lot of reasons.

An inherited house can be expensive to maintain. It may need repairs that you don’t have the money to make. You may not have the time or patience to deal with renovations. Or maybe you already own a house and simply don’t need another one.

Distance can also be a problem.

For example, my family is currently going through the probate process after my grandfather passed away. My dad and his sisters inherited his house along with the rest of the estate.

This is a house they grew up in. It’s a house I remember visiting every Sunday as a kid. We’d swim in the pool during the summer, go there after church, and spend Christmas, Thanksgiving, and Easter there.

There’s a lot of history and memories attached to that house.

But my dad has his own house. My aunt has her own house. And my other aunt lives all the way down in Florida.

So even though it’s a meaningful property, keeping it doesn’t necessarily make sense for them.

For my dad, it’s about an hour’s drive to get there. For my aunt in Florida, it’s obviously even farther.

Eventually, they decided they were going to sell the house.

Finish Probate Before Selling the Inherited House

Of course, there are some things that need to happen before you can simply sell an inherited property.

In our situation, we need to finish the probate process first.

Fortunately, my grandfather had a will and my aunt was named as the executor. I’ve been helping my aunt and dad work through the process with the county where the property is located.

Once everything is completed and we’re ready to sell the property, we’ll be able to move forward with the sale.

That’s an important part of the process when you’re dealing with an inherited house. You need to make sure the appropriate person has the authority to sell the property before moving forward.

Once you have that figured out, there are several different things you can do with an inherited house.

You can:

• Sell the house as-is
• Fix it up and sell it
• Keep the house
• Rent it out

The right option depends on your particular situation.

Should You Rent Out the Inherited House?

Let’s work our way backward and start with renting it out.

First, you have to be honest with yourself:

Do you really want to be a landlord?

Being a landlord isn’t always easy.

I’m a landlord, and sometimes it’s easy. You get a good tenant, they pay the rent, they take care of the property, and everything works out.

But then you get a bad tenant.

And man, that can really put a bad taste in your mouth.

I’ve had some great tenants over the years, and I’ve had some terrible ones. Ironically, the worst tenants I’ve had were tenants I inherited when I bought a house that already had renters in place.

You can end up dealing with maintenance, repairs, collecting rent, and all the other responsibilities that come with being a landlord.

So yes, you can make good money renting out an inherited house. But you also need to understand that being a landlord comes with ongoing responsibilities and expenses.

The cost of maintaining a property can really add up over time.

Just look at something like an HVAC system. If that goes out, you’re potentially dealing with a major expense. And that’s just one of the many things that can go wrong with a rental property.

So before you decide to rent out an inherited house, ask yourself if you actually want to take on the responsibility of being a landlord.

Need Help Deciding What to Do With an Inherited House?

If you’re dealing with an inherited property and trying to figure out what your options are, we’d be happy to talk with you about it. Simply fill out the form on this page. A member of our team will be in touch with you as soon as possible.

What If You Want to Keep the Inherited House?

Another option is simply keeping the house.

If you’re going to keep it, you’ll want to consider whether there’s a mortgage on the property and how those payments will be handled.

I’m not going to get into all the details because those situations can vary, but there are federal laws that address certain situations involving inherited property and mortgage payments. You’ll want to make sure you’re communicating with the mortgage company and understand what applies to your specific situation.

And even if there isn’t a mortgage, you’re not completely off the hook.

You still have property taxes, insurance, maintenance, and other ongoing expenses.

You need to make sure the property remains insured and that the taxes are paid.

I’ve actually bought a property from a gentleman whose father had passed away. The insurance on the property had lapsed, and the family didn’t realize it. Then an incident happened at the house.

Unfortunately, there was no insurance in place to cover it.

That turned into a very expensive mess.

So if you’re keeping an inherited house, don’t forget about the basic responsibilities that come with owning property.

Should You Fix Up the Inherited House Before Selling?

Now let’s talk about fixing up the house and selling it.

Generally speaking, if you want to get the most money possible for a house, you want to fix the things that are broken, make the property look good, and put it on the market with a good real estate agent.

That’s how you can position the property to potentially get top dollar.

But here’s the catch:

Do you have the time, money, patience, and expertise to do all of that?

Those are the questions you really need to ask yourself.

If the house needs significant repairs, you need money to pay for those repairs. If you don’t have the money, how are you going to get the work done?

We’ve had people reach out to us saying, “We’re going to fix it up.”

Then we don’t hear from them for two or three years.

The problem is they never got the money they planned to use for the repairs.

Meanwhile, the house is just sitting there.

And while it’s sitting there, the property can continue to deteriorate.

That’s something you need to think about before deciding that you’re going to fix up the inherited house yourself.

Can you do it?

Do you want to do it?

Do you have the money?

Do you have the time?

Those are all important questions.

Selling an Inherited House As-Is

The other option is selling the house as-is.

People sell houses as-is all the time, and that’s actually what we’re planning to do with my grandfather’s house.

We’re going to do a few things to the property first. There’s a swimming pool in the backyard that hasn’t been opened in several years, so we’re going to get that cleaned up. It may need a new pump, but fortunately, the liner was replaced a few years ago.

We’ll also have someone power wash the house and clean things up.

Fortunately, my grandfather took impeccable care of the property. He built the house back in the 1960s and maintained it extremely well.

It’s dated inside, and it doesn’t have modern finishes, but it’s in good condition. Someone could move into it tomorrow. The roof is new, the HVAC is new, and everything works.

So we’re not going to completely renovate the house.

We’re going to sell it as-is.

And hopefully, someone who wants a little project can buy it, move in, paint the walls, update things over time, and eventually raise a family there.

That’s part of what makes selling an inherited house interesting.

A house that may no longer make sense for you could be exactly what another family is looking for.

Selling an Inherited House to a Real Estate Investor

There’s also another way to sell a house as-is.

You can sell it to a real estate investor.

We buy houses as-is all the time.

Depending on the condition of the property, selling to an investor may be an option worth considering, especially when the property needs significant repairs.

Sometimes a house is in such poor condition that selling it to a traditional homeowner can be difficult. A lot of homeowners use mortgage financing, and the condition of the property can affect whether a lender will finance the purchase.

That’s something you need to consider when deciding how you want to sell your inherited house.

If you’re not sure whether your property could be sold as-is on the traditional market or whether selling to an investor makes more sense, that’s something we can talk through with you.

Comparing Your Options for an Inherited House

So let’s quickly run through the different options again.

Sell the House As-Is

The advantage: You don’t have to take on a major renovation project.

The downside: You may not get as much money as you potentially could by fixing the property up and selling it after renovations.

Fix It Up and Sell It

The advantage: You may be able to get more money for the property.

The downside: It takes time, money, effort, and patience to fix up a house.

And sometimes, it takes a lot more of all four than you originally expected.

Keep the House

The advantage: You continue to own the property, which can potentially appreciate over time.

The downside: You have to deal with the mortgage, property taxes, insurance, repairs, maintenance, and upkeep.

Rent the House

The advantages: A good renter can provide rental income, and there can also be tax considerations and potential appreciation over time.

The downsides: You have to deal with renters, collecting rent, maintenance, repairs, and the possibility of dealing with a bad tenant.

And as I said earlier, a terrible renter can be the worst part of being a landlord.

So, What Should You Do With an Inherited House You Don’t Want?

There isn’t one answer that works for everyone.

You need to look at your situation and decide what makes the most sense for you.

Do you have the money to fix the property?

Do you have the time?

Do you want to become a landlord?

Do you want to keep the property?

Would you rather sell it as-is?

Could the house be sold traditionally, or would an investor make more sense based on the condition?

Those are the questions you need to work through.

For my family, we’ve decided that selling my grandfather’s house as-is makes the most sense.

But your situation may be completely different.

Need Help With an Inherited House in Georgia?

If you’ve inherited a house you don’t want and you’re trying to figure out what to do next, we’d be happy to talk with you about the property.

We’re happy to discuss the different options and help you understand whether selling as-is, listing the property, or another option may make sense for your situation.

Fill out the form on the site. A member of our team will be in touch with you as soon as possible.

And remember, I’m not an attorney, so if you have legal questions about probate, the estate, or your rights concerning an inherited property, talk with a qualified probate or real estate attorney.