Selling an Inherited House in Tucson?
If you have recently inherited a house in Tucson that you are trying to sell, then there are three very costly things you need to avoid like the plague! After 23 years as an Investing Real Estate Broker here in Tucson; I’ve seen a lot of crazy things. Most mistakes could have been avoided if people had taken their time and paid attention. Sometimes, they were unavoidable.
Here’s the truth. When you are selling an inherited house in Tucson, you typically have a lot on your mind. If its not handling the estate issues, then it’s helping the family. As the executor of an estate, you have a lot on your plate. Chances are, you will have to make a lot of decisions quickly. Some, not essential or overly important. Other decisions however, need to be made decisively and correctly. Hopefully this article will help!
See Related : How Much Does Probate Cost In Arizona
Missed Payments
If you have inherited a house in Tucson, you may want to check to ensure that the payments are all up to date. It isn’t uncommon for me to meet with people who have inherited a home after the loss of a loved one. Many times, especially in those who have an affliction like dementia to forget payments. While they frequently have someone helping them, sometimes bills to the Homeowners Association forget to get paid. It isn’t uncommon for someone who has been faithful paying their mortgage to forget. Additionally, property taxes on a property that has been completely paid off are often forgotten.
Missed payments to the HOA, or for Property Taxes can result in a foreclosure action and unnecessary attorney fees. If you are selling an inherited property in Tucson, AZ ensure that you find out about any missed payments!
Deferred Maintenence
Another common thing I see when people inherit property in Tucson is deferred maintence issues on the homes they inherit. Deferred maintenence can range from everything from common household debris, to interior and exterior repair issues. Many times, a lifetime of memories will accumulate in a home. If your parents were anything like mine, they probably saved mementos from the years they shared, and the travels they had! While these personal effects were useful when my parents were alive.. they became painful reminders when I was going through their things! Sometimes, people collect a lifetime of things, and then when you are trying to sell their home, it becomes a problem.
Obviously, if you have inherited a Tucson home that has a lot of debris, you more than likely have a few repair issues! Leaky pipes, septic tanks, and roofs that are well past their lifespan are all par for the course! If you are choosing to do some minor repairs prior to selling your home, be sure to not spend too much! There isn’t anything more frustrating than spending a dime, and getting a nickel out!
When you sell your inherited home in Tucson to me at KarlBuysHouses, you don’t have to worry about any of this!
Multiple Heirs
When selling an inherited home in Tucson, it isn’t uncommon to have multiple heirs who have an interest in the home. When the will of your loved one is clear, then many times the problems can be avoided. If you have already gone through the probate process, and you are ready to sell your inherited home fast, then you need to determine the value of the inherited house first!
How do you determine the fair market value of an inherited house?
When you are selling inherited property to a sibling, it’s fairly simple. For tax purposes, you would probably be best advised to seek an appraiser to determine a fair market value. This will help you when you are reporting the sale of inherited property on your tax return.
If you are selling your inherited house in Tucson fast, you can also contact me for a fair, fast offer! I work with all sorts of situations! No matter how difficult, as a self employed real estate Broker, I have 23 years of experience in dealing with homeowners who have difficult properties!
Because I am a licensed Broker here in Tucson, I am able to give you the latest market statistics for your property direct from the Tucson Multiple Listing Service. That way you will know how to determine the fair market value of inherited house!