I want to sell the house I inherited from my parents.
Costs, procedures, and sales methods
Easy-to-understand explanation
Have you inherited your family home after your parents' death, but are now worried about things like "how to sell it," "how much it will cost," or "the procedures are complicated and I don't know where to start"?
This page is about selling the inherited family home.Costs, procedures, and sales methodsI will explain it in an easy-to-understand way.
Common problems when selling an inherited family home
Common questions and concerns regarding the sale of inherited family homes:
- The inheritance registration is not yet complete.
- The brothers are divided on whether or not to sell it.
- There are still a lot of belongings left at my parents' house.
- I'm concerned about leaks and deterioration.
- When I consulted a real estate company, they didn't take any proactive steps.
- Property taxes and maintenance fees continue to be incurred every year.
Costs associated with selling the inherited family home
- Inheritance registration fees:The cost of hiring a judicial scrivener is approximately 30,000 to 100,000 yen (this will become mandatory from 2024).
- Brokerage fee:If going through a real estate company, the maximum amount is 330,000 yen (including tax, for properties priced at 8 million yen or less).
- Capital gains tax:This occurs when a profit is made from the sale (there are special provisions for sales within 3 years of inheritance).
- Cost of removing remaining items:Depending on the amount of luggage, the price ranges from 50,000 to over 1,000,000 yen.
- Surveying and boundary determination costs:For land, the price is around 300,000 to 800,000 yen.
- In the case of a private sale:No listing fees or brokerage fees. Leave any remaining items as they are.
The process of selling an inherited family home
Complete the inheritance registration.
Since April 2024, inheritance registration has been mandatory. First, you must consult with the Legal Affairs Bureau or a judicial scrivener to change the ownership to the heir's name. You cannot sell the property until this is completed. The cost is approximately 30,000 to 100,000 yen.
Obtain the consent of all heirs.
If there are multiple heirs, the consent of all of them is required. It's important to reach an agreement among siblings regarding whether or not to sell the property and what the selling price should be. This is a common point of contention, so it's recommended to discuss it early.
Choose a selling method
There are several ways to sell your property, including through a real estate company, a vacant property bank, or private sale. The best method depends on the property's condition, price, and urgency. Trying multiple methods simultaneously will increase your chances of selling.
Selling property
When listing a property on a private sales website, you can list it even if it includes leftover items and is sold as-is. However, if you go through a real estate company, you may be required to clear out belongings or make repairs.
Sales contract, handover, and name change
Once a buyer is found, a sales contract will be drawn up. For private sales, it is safer to use the J Home 2 U format or to entrust the process to a judicial scrivener. The change of ownership (registration of transfer of ownership) should also be entrusted to a judicial scrivener.
How to sell an inherited family home
Method 1| Post on a personal trading site
One of the best ways to sell an inherited family home is through a private sale. You can list properties with remaining belongings, sold as-is, and at a low price, and there are no brokerage fees whatsoever.
Even properties that real estate companies aren't actively pursuing can attract DIY enthusiasts and investors.A buyer who wants it in its original condition.We can deliver directly to your address. We can also send messages to buyers both domestically and internationally.
- No listing fees or brokerage fees.
- Items left behind; sold as is.
- Low-priced properties are also welcome.
- Direct appeal to domestic and international buyers
Method 2| Request a real estate company
This is a common method of selling property. However, if the inherited family home is inexpensive, real estate companies tend to prioritize it less because the commission they receive will be low. It is important to consult with multiple real estate companies and choose one that has experience handling inherited properties.
Method 3| Sell to a buyer
For those who want to quickly convert their items into cash and minimize the hassle of the process, using a buyback service is an option. While the price is often lower than the market value, there are cases where they will buy items even with remaining items inside and in their current condition.
This is suitable for situations where there are many heirs and you want to distribute cash quickly.
Method 4| Consult with a judicial scrivener or tax accountant
For procedures requiring specialized expertise, such as inheritance registration, capital gains tax, and inheritance tax filing, consulting with a judicial scrivener or tax accountant is advisable.
especiallyThere are special tax provisions for selling property within three years of inheritance.These may apply. Consulting with a tax accountant before selling can sometimes lead to unexpected tax savings.
Summary and comparison of selling methods
| method | Suitable people | cost |
|---|---|---|
| 1. Personal trading site | I want to sell this with no commission fees, including any remaining items, and as-is. | free |
| 2. Real estate company | I want to leave it to the experts. | Brokerage fee applies.(Maximum 330,000 yen, tax included) |
| 3. Buyers | I want to cash it in quickly. | free(Prices may be lower) |
| 4. Consult with legal professionals. | Properties with complex registration and tax issues. | Consultation fee applies. |
The inherited family home transforms from a "burden" to "liberation."
Leaving an inherited family home unattended will only increase property taxes and maintenance costs, and the building will continue to deteriorate.Before giving up and thinking "it won't sell anyway," try the option of selling it privately first.With J Home 2 U, which offers properties with remaining items, sold as-is, and with no listing fees, you can promote your family home as is, both domestically and internationally.