Options for Inherited Properties

Every year, thousands upon thousands of people end up inheriting homes as a function of a loved one passing away. For many, these homes are in another state.

Knowing what your options are is critical.

There are often three options for those who find themselves in this position: Sell it, move into it or rent it.

Selling a home you’ve inherited can often be the simplest, most hassle free approach. It is also worth noting that there can be tax advantages to selling. In many states, capital gains taxes are only paid on the appreciation of a home at the ‘date of death’. This means that you only pay capital gains for whatever ‘gain’ there has been since you inherited the home. In this scenario, selling a home quickly can be especially prudent – particularly in rapidly expanding and growing housing markets.

Whether you’re in Florida or in another state and you are in a situation where you need to sell a home or know someone who is, we’d love to speak with you.

RD Homes Florida, LLC