If you’ve inherited a home, you probably have some decisions to make.
- Should you make it your new home?
- Should you rent it out?
- Or should you sell it?
If you decide to sell an inherited home, you need to be aware of some unique situations during the sale. So make sure you retain the services of an experienced Realtor to help you through:
- Correctly determining the home value.
- Learn what’s owed on the mortgage and any outstanding debts including property taxes or utility bills.
- See if there is a “due-on-sale” clause with the mortgage.
- Whether there is a reverse mortgage in place.
- Your tax responsibility on the inheritance.
- Whether to sell “as-is” or to make renovations.
Click below to understand how to sell an inherited house.