616-379-3099
Call Us: 
Sell Your Inherited House
Inheriting a home might seem like a gift at first, but it can also be wrapped in extra responsibility and stress. If you don’t want the property or the obligation that comes with it, you have options — including one that’s fast, hassle-free, and puts money in your pocket.
Get Your Free Cash Offer
We purchase homes in any condition, as-is — no repairs, cleanup, or staging necessary. It’s a streamlined, hassle-free selling process that can help get an unwanted property off your hands fast. Give us a call at (616) 379-3099 or fill out this form for your free cash offer.
You Inherited a House You Don’t Want. What Are Your Options?
Sometimes inheriting a home from a loved one is a blessing. Other times, it’s more of a hassle. If you’ve recently inherited a property that you’re on the fence about, you may be wondering what your next step should be. Here are some common options.
OPTION 1
Keep the Inherited House and Live In It
With a few renovations, maybe you see potential to turn it into your dream home. Just know that you’ll be responsible for maintaining it, paying mortgage and property taxes payments, etc.
OPTION 2
Keep the Inherited House and Rent It
If you don’t want to live in the home, but still want to keep it in your name, renting is a great option that can help you bring in extra income. However, it can be a lot of work to manage a rental property, especially if you can’t find suitable tenants.
OPTION 3
List the Inherited House For a Traditional Home Sale
Putting a traditional listing on the market can be a good option, especially if the mortgage on the home is already paid off. However, listing and selling a home the traditional way can take a lot of time and energy.
OPTION 4
Sell the Inherited House to an All-Cash Buyer or Real Estate Investor
In many cases, inherited a home is stressful. If you want to get the property off your hands as soon as possible, your best bet is to sell to an all-cash buyer or real estate investor. They’ll provide you with a fair cash offer based on the market and the condition of the home. Then, they’ll go through a streamlined selling and closing process that allows you to have the home off your hands in as little as five days.
Selling Your Inherited House FAQs
Have more specific questions about selling your inherited house and what that process looks like? Here are some frequently asked questions we get from people in similar situations. You can also get more tips on selling unwanted properties by visiting our blog.
It isn’t always possible to completely avoid capital gains on an inherited property. However, there are various ways you can reduce capital gains.
- Sell the inherited property quickly. If you inherited a property valued at $300,000 and sell it quickly for the same price or less, you won’t incur any capital gains tax.
- Make the inherited property your permanent residence. Taxpayers can exclude up to $250,000 (or $500,000 on joint returns) of capital gain form the sale is they live in the property for at least two of the five years before the sale.
- Disclaim the inherited property. To disclaim the inherited property, you’d sign a Disclaimer with your attorney and voluntarily choose not to inherit the property. It would then go to the next person in line to inherit.
- Deduct selling expenses from capital gains. You can subtract any closing costs and expenses used to prepare the house for sale, so it minimizes capital gains.
Most inherited homes must go through probate before they can be sold. This can take anywhere between nine months to two years. Going through with a traditional home sale will add another couple months to that timeline.
If you want to avoid waiting longer to sell your inherited house, you may choose to do a non-traditional, as-is sale to a real estate investor. Often, these companies can help you sell and close on your home in less than a week.
If you inherit a house with siblings or other family members, ownership of the property is distributed equally — unless the will states otherwise. From there, the family members included can work together to determine what’s done with the home.
Sell Your Inherited House Stress-Free. Contact Hometown Development.
If you’ve inherited a home that you’d like to sell, there’s no better choice to sell to than Hometown Development. We buy homes in any condition, no cleanup or repairs necessary — and we’ll provide you with a free, no-obligation cash offer within just 24 hours of learning about your home.
