Taxes on an inherited home

Posted by Satyam Patel // December 26, 2018

Taxes on an inherited home When selling a house, one can expect to experience some sort of a tax consequence.  The type of tax consequence will depend on the state you live in and the laws associated to selling property. Taxes could result due to the sale of the home, or on the inheritance of […]

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IRS Reporting of the Sale of an Inherited House

Posted by Satyam Patel // December 19, 2018

Are you considering selling your rental property? What do you need to know about reporting the sale? What do you need to consider in terms of the IRS? First off, you have to report the transaction to the IRS. This is very important to do correctly as the last thing you want is to have […]

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Inherited House: Is There A Mortgage?

Posted by Satyam Patel // December 12, 2018

Times have changed in how people handle their home mortgages. In the past, homeowners would pay off their homes before retirement because they did not want to be left with the burden of payments without the active income. These days, many individuals carry a mortgage that gets passed on to those that inherit the house. […]

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Stress Free Selling of an Inherited House

Posted by Satyam Patel // December 5, 2018

Inheriting When one inherits a house it can appear to be a good thing. Getting a virtually free home can be great, especially if it means getting out of a rental and being able to start saving money. The inherited house can also be looked at from a negative standpoint. Now all of a sudden there […]

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Losing A Loved One

Posted by Satyam Patel // November 28, 2018

Many people struggle after losing a loved one. Someone you loved and cared for is suddenly gone, leaving you feeling down and unable to focus on the things that need to be taken care of. Even when it is expected, their passing can be a shock. On top of dealing with these emotions, the last […]

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Clear Out the Inherited House: What are the priorities?

Posted by Satyam Patel // November 21, 2018

Having to clean out an inherited house can be a daunting task. The family is dealing with the loss of a loved one and may not know what to do with that house. In addition to the situation, cleaning out someone else’s things is not easy. Regardless, it is important to consider clearing out the […]

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Preparing Inherited House for the Sale

Posted by Satyam Patel // November 14, 2018

The decision has been made. The inherited house will be put on the market. It is time to get this house ready for a potential sale. There are several things that can be done to prepare this house for sale. Some of these things include:   Clear It Out: The personal items that have been […]

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Inheriting a House: 5 Top Things You Should Know

Posted by Satyam Patel // November 7, 2018

Inheriting a house can feel like winning the lottery. When inheriting a house, there are a number of difficult emotional and financial decisions to make.  The following are the top five things one should know when inheriting a house:   Bills and Debt come quick It is advisable not to make quick decisions in the […]

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If You’re A First Time Landlord – Read This!

Posted by Satyam Patel // November 5, 2018

On the surface, being a landlord seems pretty simple. You find a tenant and wait for the first of every month for rent checks to pour in. At the end of the lease you repeat the process and start all over again. Anyone who owns rental property knows this isn’t exactly how things work. There […]

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Benefits in Keeping an Inherited Property

Posted by Satyam Patel // October 31, 2018

Inheriting a house can be exciting yet stressful at the same time. You may find yourself struggling between keeping it or selling it.  Avoid going back and forth. Approach it from a logical perspective to help you make the right decision. In this situation, it is best to step back and allow yourself space to reflect […]

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