
Inherited property – what do I need to bear in mind when selling?
1. Clarify succession and check legal requirements
Before you can sell inherited property, you must ensure that you are entitled to do so. Important steps in this process include:
- Apply for a certificate of inheritance: This officially identifies you as the heir and is often required for entry in the land register.
- Check the land register: Check whether you are already registered as the owner. If not, you must arrange for the transfer of ownership.
- Consult with co-heirs: In the case of a community of heirs, all heirs must agree to the sale. Clarify at an early stage how the proceeds are to be divided.
2. Consider tax aspects
Selling real estate can have tax consequences. Clarify the following points in advance:
- Speculation tax: If the property was purchased by the deceased less than ten years ago, a tax may be payable on the sale, unless the property was used exclusively for personal use.
- Inheritance tax: Depending on the value of the property and your degree of kinship, inheritance tax may also be payable. Find out about tax allowances and possible tax burdens.
3. Have the property valued
A professional valuation will help you determine the realistic market value of the property. A local professional real estate agent usually offers this service free of charge. A professional valuation is essential for a promising pricing strategy. A quality real estate agent knows how to sell your property at a fair market price.
4. Renovate or sell as is?
Whether renovation is worthwhile depends on various factors. Currently, properties with poor energy efficiency are subject to significant price reductions. However, you should carefully consider whether the effort and costs are worthwhile. Seek advice from a real estate expert and an energy expert.
Selling an inherited property requires planning, legal protection, and often professional support. With the right approach, you can not only make the process stress-free, but also achieve a market-driven sale price.
Are you unsure about the best solution for your inherited property? Contact us! We will be happy to advise you.
Notes:
For reasons of better readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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