If a loved one recently passed away and you've inherited their house, you may feel blessed or you may feel overwhelmed with all the things you need to do. Inheriting a house is not always a simple process and it can be filled with unpleasant surprises if the home has problems or liens. Here are some important steps you may need to take.

Get Advice From An Attorney

You may be working with an attorney anyway as your loved one's estate goes through probate, and getting advice on how to deal with an inherited home is essential. You could move into the home, rent it, or sell it depending on several different factors. You'll need professional help when it comes to understanding the taxes involved with inheriting a house. Understanding how inheriting a house will affect your finances is an important step in helping you decide if you'll keep the home or sell it.

Get A House Inspection

You'll probably have no idea what shape the home is in since you didn't live in it yourself. There could be substantial problems that are expensive to repair and that would keep you from renting the house unless the problems are fixed first. Finding out the condition of the house and getting estimates on repairs helps you decide if it is worth it to keep the home or if you need to get rid of it. Other things you need to consider include the amount of money still owed on the house and any liens or back taxes that might be owed. This helps you know if the house will be a financial nightmare or a financial benefit for you to own.

Decide How You Want To Sell The House

If you've decided you don't want to live in the house or rent it, then decide on the way you want to sell the house. If the house is in bad shape, you may want to sell it to an investor that buys ugly houses and take what you can get out if it without having to invest anything in fixing it up. If you want to sell the home for a profit by making improvements and putting it on the market, then you'll want to work with a real estate agent who can help you decide on the best way to present your property, how to price it, and when to accept a good offer.

You'll probably need to have an estate sale and empty out the house first, clean it up, and then let the real estate agent stage it to be more attractive to buyers. In any case, dealing with an inherited house could be a lot of work unless your loved one kept the house in excellent shape and ready for you to put on the market. For more information on how you can easily sell an inherited house, call your real estate agent today.

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