How to sell a flat you have inherited?

After inheriting a property such as a flat, the question often arises: what to do with it. Many people decide to sell, because it brings an immediate inflow of cash and may be more advantageous when dividing the estate among the heirs. However, the process is not simple and requires a number of formalities to be met. In this article you will learn how to prepare for selling a flat you have inherited.

When can you sell an inherited flat?

The decision to sell an inherited flat can only be made after the court and official formalities connected with acquiring the rights to the property have been completed. These include, among other things, submitting a declaration of acceptance of the inheritance and obtaining a notarial deed (akt notarialny) confirming the rights held. However, selling an inherited flat is only possible once six months have passed since it was acquired. This is the period during which the heirs may reject or accept the inheritance.

Documents required to sell an inherited flat

Selling an inherited flat is a process that requires careful preparation of documents. These include:

• a document confirming acquisition of the inheritance;
• a notarial deed confirming acquisition of the property;
• a certificate confirming that property tax has been paid;
• an extract from the land and mortgage register (księga wieczysta) of the property;
• a document in which the heirs state their joint consent to the sale of the property;
• a certificate confirming that there are no outstanding charges.

Decide whether renovation is necessary

An inherited flat may need renovation or modernisation. Before you decide to sell, consider whether it is worth investing in repair work that can increase the value of the property and attract potential buyers. Costly renovations are not always necessary, but sometimes minor improvements can make the flat more attractive to a future buyer.

Choose a sales method

You have several options for selling the flat. You can try to sell the property yourself by placing adverts on the internet or in a local newspaper. Another option is to use professional services. An estate agent will help you find potential buyers and carry out the entire sales process.

Concluding the contract and completing the transaction

Once a buyer has been found and the terms of sale agreed, a sale and purchase agreement must be concluded. After it is signed, all that remains is to complete the transaction, that is, to hand over the property to the buyer and settle all financial obligations.

Summary

Selling an inherited flat may seem a complicated process, but proper preparation can make it much easier. The key is to gather all the necessary documents, choose a method of sale and make sure the transaction is completed correctly.