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Selling an Inherited House Should be Easy, Right?

by Hailey M. We Buy Houses that are Ugly or Old. Sell your hous
Selling-an-Inherited-House-Should-be-Easy-now

Do you want to sell an inherited house?

Do you have an inherited house you have been renting out?

We are going to help you find all the answers. It will take time but we have summarized all the best info about inherited houses and how to sell your inheritance right here.

Any links will take you to the best and most up to date info on selling your inheritance.

Let this be a journey of joy. The house you inherited can become a living memory going forward. It could become a college fund for your daughter (see the really cool story from that link)

Did your long time tenants move out of the inheritance and now you are wondering should i renovate or should I sell?

Did you inherit a house and you are out of state?

 It's OK if you want to sell the house you inherited.

 In fact over the next 40 years Boomers will inherit over $27 TRILLION. A large amount of those inherited properties will be sold so the person who inherited the house can use the money to help them and there families.

 "I inherited a house from my father. He lived in Denver and I lived in Indianapolis. I sold the inheritance as it was difficult to manage as a rental. I then took that money and invested it in a college fund for my daughter. I also used a little to pay of the mortgage and take a vacation to Florida to visit friends. The whole time I was thinking of Dad and it felt really good."

 Today I will present, in summary, a few ideas about how to proceed with the houses you inherited and will include an actual case study. I will talk the following options for you inheritance:

 Understanding the variables of an Inheritance:

  • What is the inherited house worth?
  • Is there money owed on the inherited property?
  • Are you the only person inheriting the property?

 

What tax implications are there when selling a house you inherited?

  • Inherited houses don't qualify for tax exclusion home sale.
  • Inherited properties can use the stepped up tax basis.
  • How to report house sale proceeds of the inheritance you sold.
  • What is the difference between inheritance and estate tax?

 

Next Step: Prep the inheritance for sale.

  • Clean out all the personal stuff
  • Wait for the inheritance to go through Probate
  • Who has the legal responsibility and rights to handle the selling of the inherited house?
  • What is the Best Way to Sell a Inherited House?
    • Sell with a real estate agent: PROS and CONS
    • Sell For Sale by Owner: PROS and CONS
    • Sell inheritance to a cash home buyer: PROS and CONS.

 

CASE STUDY: Indianapolis Inherited House Purchased by Watson Buys.

This case study of a inherited house bought by a cash home buyer will take you through an actual situation where 4 siblings inherited a house in Indianapolis. They decided they wanted to sell it. You will get in-depth insight and reviews from the siblings about the entire process from start to finish.

 This highlights the complexity of selling a house you inherited. However if you choose to take a methodical approach and ask for the right help the process of selling your inheritance can be easy and simple and profitable.


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About Hailey M. Junior   We Buy Houses that are Ugly or Old. Sell your hous

3 connections, 0 recommendations, 12 honor points.
Joined APSense since, September 27th, 2020, From Denver, United States.

Created on Sep 28th 2020 11:27. Viewed 292 times.

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