If the house came through probate, expect to wait about 6 months to a year - the money has to go into the estate account, creditors have to be paid before heirs, the account has to be reconciled, and then the court has to approve the cash disbursements.
Depends upon what you mean "inherit". If you were joint tenant with right of survivorship, it isn't actually "sold" unless your name is on the deed selling it to someone else and you receive payment immediately. If it is being probated from an estate, and you did not receive an "undivided share" of the house, then the estate would be selling it and giving you the proceeds, assuming all the other estate debts have been settled. If you did get an undivided share, then (again), it's not actually "sold" until you put your name on the deed as one of the part-owners of the property and receive the money from the buyers immediately.
Read the contract as it should have a closing date. That's presuming it's been through probate. If it hasn't then you can't legally sign a contract until probate has been filed and an executor is named.
Well, you don't get a penny until probate is finished regardless when the closing occurred. And then, all debts from the estate must be settled before the proceeds are disbursed.
Assuming you were titled to the house before it was sold, it will only take 4-6 weeks to close, sometimes sooner. But if the house is still part of the estate, it could be 6 months to a year before you see a penny as it will all be subject to probate.
I recently inherited part of a house that has been "sold" in the normal way, through a Realtor. When can I expect to get my hands on the money?
