When someone inherits a property, there are several things that come with it. If the inheritance came because of the death of a loved one, the acquisition of the property can be painful. In addition, there might be financial obligations that accompany the property. For example, some people inherit homes that still have mortgage payments and making these monthly payments can be a financial burden. In addition, the property might need repairs or updates that can be costly.
If you’ve been charged with the responsibility of selling a property on behalf of an estate or if you have inherited a property you can’t afford or don’t want to possess, we can buy the home quickly and relieve you of the financial burden. We are comfortable with working with heirs and can give you an offer that is acceptable to all parties involved, allowing you to move on with your life.
It’s simple, let us help you by filling out the quick quote form to the right – We will send you a fast, fair price offer for your home!
Selling an inherited home is the right move for many people. Inheriting a home may leave you feeling overwhelmed. When siblings inherit equal interest in the family home, they may not have the warm, fuzzy feeling that mom and dad intended. You may face responsibilities such as mortgage payments, expensive repairs or updates. The financial burden of inheriting a home is simply too much for many people, who must consider their options.
When you inherit a home, you have several options. You can live in it, but what if you inherit the home along with siblings? Arguments may ensue regarding who should live in the home. If you do live in the home, you have the financial burden associated with taxes, ongoing upkeep and other expenses.
You can rent the home, but do you want those headaches? You have to pay for ongoing upkeep and hope the tenant does not damage the home or fail to pay rent on time.
For many people, selling the home for cash is an ideal choice. The burden is gone and you have cash on-hand.
When you sell your inherited home to iBuy Utah Homes, you are free of the financial burden and headaches.
Consider these additional benefits:
When everyone with interest in the inherited home agrees to sell it, the process is usually smooth and easy. Problems may occur when heirs disagree about what to do with the home. When siblings reach an agreement, selling the home likely becomes a stress-free process. Sometimes the home is sold to settle debts, at which time a court may rule against a sibling wanting to retain the home.
Inherited homes often need repairs or upgrades before being placed on the market. Even small updates such as a fresh coat of paint or increasing curb appeal can make a significant difference in the selling price and marketability of a home. An inspector can recommend repairs that you may not notice need attention.
Zacks explains your tax basis upon sale of your inherited home by saying, “Your basis for inherited property is usually the property’s value on the date of death for the person who bequeathed it to you.” The difference between that value and the amount realized from the sale is the gain you will owe taxes on. In event of several heirs, each reports their share on their taxes.
We can quickly relieve you of the burdens associated with your inherited home. We easily work with heirs, giving you a quick and fair quote acceptable to all heirs. Fill out the form to the right or give us a call at (801) 513-1382 to see if we can help!