Selling an Inherited Home in Myrtle Beach, SC

Selling an inherited house in Myrtle Beach begins with the probate court, which in South Carolina has exclusive original jurisdiction over decedents' estates. The estate is opened in the county where the owner was domiciled, the Horry County Probate Court for an owner who lived in Horry County, or, for an owner who lived outside South Carolina, in a county where they owned property. A personal representative generally may not sell the estate's real property unless the will authorizes it or the sale follows the procedures the probate code sets out. For a property in a trust, the trustee's authority usually comes from the trust document. Local to Coastal Realty asks for the paperwork before listing, and so will the closing attorney.

South Carolina's disclosure law does not apply to a transfer by a fiduciary in the course of administering a decedent's estate or a trust; the attorney confirms whether your sale qualifies. A sale to a buyer carries the deed recording fee of $1.85 per $500 of value, $1,387.50 on $375,000, while a deed of distribution passing the property to an heir under the probate code is not subject to it. For tax purposes, an inherited house generally takes a basis equal to its fair market value on the date of death, or the later alternate valuation date the personal representative chooses, according to IRS Publication 523. When heirs disagree, the estate attorney decides how it is resolved, and every heir gets the same comps from me. See what your Myrtle Beach home is worth and selling your home in Myrtle Beach, and call me when you are ready.