Can an executor sell a house in Colorado even if all the heirs don’t agree?
With an inherited house, what role does an executor play?
An executor, commonly known as a “personal representative” in Colorado, is usually named in the deceased’s will. If there’s no will, heirs will choose someone to be executor, or probate court will. The executor’s main responsibilities are to pay taxes and debts, then split what’s left to the heirs. Executors must also apply for a death certificate as well as notify creditors, banks, and the local probate court.
The only requirements in Colorado are that the executor be over 18 years old and of sound mind. It’s an honor to be named executor; however, it’s also a huge responsibility.
The executor of a will works with “probate.”
Probate is a series of government-outlined steps—the legal process by which the estate of the deceased passes on to the heirs. In Colorado, the law generally requires some type of probate unless the value of the deceased’s estate is less than $65,000, in which case it requires only an affidavit process. Most inherited property goes through informal probate, which is just monitored by the court. Formal probate is sometimes required in complicated cases and is overseen by a court. Things can get especially tricky if family members don’t agree about what to do with the house of the deceased. That is an instance when formal probate is needed.
Does the executor have the final say if heirs disagree?
Can an executor sell a house if there’s a dispute regarding the inherited house? No, the executor’s hands are tied, and the Denver-area inherited house will sit until the disagreement is resolved. Only then can the house be sold and assets divided.
Mediation is often an effective solution for inherited-house disagreements. It requires a neutral person to facilitate communication between the heirs; you’ll want to choose someone who is ethical, trustworthy, diplomatic, and logical. In Colorado, you can hire a trained mediator from a private service. You can also choose one from people you know—often a trusted family friend.
If mediation fails, going to court is your last option.
If mediation doesn’t solve the inherited house problem, taking it to court is unfortunately the next step. Hire a good attorney with experience in Colorado estate law. It’s not advised to go this alone, as estate laws and procedures can be complicated.
Going to court over an inherited house will require more work for the executor and the heirs, and it can get quite expensive. It’s also time-consuming. The judge will make a ruling, factoring in all the information received.
Why selling an inherited house fast in Colorado is important
If you’re going to sell your inherited house, it’s sensible to sell quickly. There are several reasons for this.
While the house is awaiting sale, required payments such as taxes, utilities, and insurance will continue. If the house is vacant, there is also more of a risk of vandalism and vagrancy.
According to RocketMortgage, “Typical homeowners insurance policies don’t cover most claims on a vacant property because they often have vacancy clauses, which restrict or exclude coverage on properties that have been vacant for a certain time—usually 30 or 60 days. Since vacant homes are often more vulnerable to things like theft, vandalism and other damage, insurance companies would rather not take on the risk (and additional expense) by allowing coverage within the typical homeowners insurance policy.”
According to Insurance.com, “Because the risk increases when no one's around to keep an eye on things, vacant home insurance costs 50%–60% more.” Bills and continuing maintenance costs can also add up.
How to sell an inherited house in Colorado fast and in “as is” condition
If you’re selling your house through a real estate agent or FSBO (for sale by owner), you may have to make repairs and updates before putting the house on the market. Selling the traditional way is also time consuming, since you will need to deal with photography sessions, staging, and repairs.
We Buy Ugly Houses® buys houses in “as is” condition, meaning you don’t have make repairs or even do any cleaning. If there are possessions in the inherited house that you don’t want to keep, you can just leave them there, and we will take care of them. We charge no commissions, have no hidden fees, and pay typical closing costs. Our offers are typically discounted below market value in exchange for speed and convenience.
Simply contact us for a free, no-obligation, in-person consultation with one of our friendly Colorado property buyers. We’ll take a tour of your inherited house and answer your questions. We can sometimes give you an offer on the same day. If you accept our offer, we can sometimes close in as little as 3 weeks!
We Buy Ugly Houses has a high 95%* customer satisfaction rating from our satisfied sellers nationwide, who give us great reviews. Contact us to learn more about selling your inherited house in Colorado with We Buy Ugly Houses.
This blog is for informational purposes only and should not be considered legal advice.
